Mr Viral
November 12, (THEWILL) — The Nigerian equities market staged an impressive rebound on Wednesday, reversing the previous day’s losses as renewed investor confidence spurred a broad rally across sectors.
Market capitalisation opened at N89.884 trillion and climbed to N92.480 trillion by the close of trading. Similarly, the All Share Index (ASI) advanced from 141,327.30 points to 145,403.83 points, reflecting improved buying interest and positive sentiment in the market.
A total of 65 gainers and 11 losers were recorded—marking a sharp contrast to Tuesday’s bearish performance and underscoring a shift toward bullish momentum.
Top Gainers:
ACCESSCORP appreciated 10.00 percent, (from N22.00 to N22.00).
MANSARD gained 10.00 percent, (moving from N12.10 to N13.31).
NB rose 10.00 percent, (from N12.10 to N13.31).
OANDO climbed 10.00 percent, (advancing from N36.00 to N39.60).
PZ appreciated 10.00 percent, (from N35.00 to N38.50).
Top Losers:
VITAFOAM recorded a -10.00 percent loss, (dropping from N94.00 to N84.60).
AUSTINLAZ shed -10.00 percent, (falling from N2.90 to N2.61).
TRANSPOWER declined -10.00 percent, (from N342.00 to N307.80).
REDSTAREX lost -9.80 percent, (from N10.20 to N9.20).
ABBEYBDS fell -9.72 percent, (slipping from N7.20 to N6.50).
Unchanged Stocks:
BUA Foods
Cadbury
E-Tranzact
Eterna
Dangote Cement
Investor sentiment turned strongly positive, with market participants taking advantage of earlier price corrections to increase exposure to fundamentally strong stocks. The surge in the number of gainers compared to losers suggests renewed confidence and improved market breadth, buoyed by bargain hunting and expectations of favourable corporate earnings.
Analysts expect the upbeat momentum to persist in the short term if current buying interest continues, though selective profit-taking may occur as investors lock in recent gains. The overall outlook remains cautiously optimistic heading into the next trading session.
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Ogochukwu Onwaeze
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