The Nigerian stock market continued its upward trajectory on Wednesday, with the All-Share Index (ASI) crossing the 146,000-point threshold for the first time, signaling sustained investor optimism and strong market momentum.
The ASI advanced by 756.85 points, or 0.52%, to close at 146,570.71, up from 145,813.86 in the previous session. Market capitalization rose correspondingly, adding over ₦400 billion to reach ₦92.7 trillion.
Top Gainers: Guinness Shines, Four Stocks Hit 10% Limit
Leading the rally was Guinness Nigeria Plc, which recorded a 9.98% gain to close at ₦141.60 per share. The brewing giant was joined by AIICO Insurance, University Press Plc (UPL), AXA Mansard Insurance, and Cornerstone Insurance, each of which hit the maximum daily gain limit of 10% — a strong signal of bullish sentiment in the insurance and publishing sectors.
Trading Activity: Surge in Volume and Deals
Market activity intensified with 1.98 billion shares traded in 35,291 deals, a notable increase from the 1.7 billion shares exchanged in the previous session.
Linkage Assurance led the volume chart with 372.4 million shares, followed by Prestige Assurance (249.3 million), Veritas Kapital, Sterling Financial Holdings, and Lasaco Assurance.
Top Value Drivers: Banking Stocks in Focus
In terms of value, Guaranty Trust Holding Company (GTCO) led with ₦2.9 billion worth of shares traded. Other major contributors included Zenith Bank (₦2.8 billion), Dangote Cement (₦2.7 billion), Okomu Oil (₦1.5 billion), and Access Corporation (₦1.3 billion) reaffirming the dominance of banking and industrial stocks in driving market value.
Market Outlook: Path Toward 150,000?
With the ASI now firmly above the 146,000-point level, analysts are optimistic that the market could soon test the 150,000 mark if current momentum holds. Strong earnings reports, sector-specific rallies, and increased foreign interest continue to underpin the bullish sentiment.
