Reported by Tahir Ishaq Shehu 

The Nigerian Exchange Limited (NGX) staged a strong recovery on Wednesday, gaining N378 billion in market capitalisation after four consecutive days of losses.

The market capitalisation rose by 0.5 percent to N76.179 trillion, up from N75.801 trillion on Tuesday. Similarly, the All-Share Index (ASI) climbed by 598.67 points, or 0.5 percent, to close at 120,339.90, compared to the previous session’s 119,741.23.

This positive momentum was driven by renewed investor interest across 62 stocks, resulting in a broadly positive market breadth with 61 gainers and 16 losers.

Top Gainers

Leading the gainers’ chart:

C&I Leasing: +10%, closing at N5.06

Cutix Plc: +10%, at N3.96

Ellah Lakes: +10%, ending at N9.24

International Energy Insurance: +10%, at N1.98

Omatek Ventures: +10%, finishing at 88k per share

Top Losers

On the downside:

Deap Capital: -9.09%, at N1.00

John Holt: -5.41%, ending at N7.00

Dangote Sugar: -5.32%, closing at N44.50, following the retirement of its chairman, Aliko Dangote

Universal Insurance: -4.76%, at 60k

Oando Plc: -4.73%, at N52.35

Trading Activity

Market activity saw a notable increase, with 1.05 billion shares valued at N12.17 billion traded across 21,964 deals. This contrasts with 527.1 million shares worth N11.28 billion exchanged in 21,546 deals on Tuesday.

Royal Exchange led the volume chart with 218.7 million shares worth N229.11 million, followed by Ja Paul Gold, Ellah Lakes, Wema Bank, and CHAMS.