The 1.83 per cent rise recorded by the Nigerian Exchange (NGX) Limited on Wednesday got the portfolios of investors swelling by N1.441 trillion at the close of transactions.
According to data from Customs Street, the market capitalisation closed at N81.585 trillion during the session compared with the N80.144 trillion recorded on Monday.
Business Post reports that the Nigerian bourse did not open for business on Tuesday because of a public holiday observed to honour the immediate past president of Nigeria, Mr Muhammadu Buhari, who died on Sunday in a London health facility. He was buried two days later.
At the resumption of trading activities at midweek, the market participants were upbeat, mopping up shares with sound fundamentals, helping the All-Share Index (ASI) to grow by 2,277.54 points to 128,967.08 points from 126,689.54 points.
Secure Electronic Technology gained 10.00 per cent to sell for N1.21, Omatek appreciated by 10.00 per cent to N1.76, Eunisell improved by 10.00 per cent to N14.85, Nestle Nigeria jumped by 10.00 per cent to N1,650.00, and Tripple Gee rose by 9.92 per cent to N4.32.
Conversely, NPF Microfinance Bank lost 10.00 per cent to quote at N2.43, FTN Cocoa declined by 10.00 per cent to N7.02, C&I Leasing gave up 9.97 per cent to trade at N7.13, Champion Breweries depreciated by 9.96 per cent to N12.29, and McNichols shrank by 9.95 per cent to N3.89.
At the close of business, the NGX finished with 41 price gainers and 44 price losers, indicating a negative market breadth index and weak investor sentiment.
Yesterday, investors bought and sold 11.7 billion equities valued at N363.4 billion in 36,635 deals compared with the 1.3 billion equities worth N32.2 billion transacted in 39,431 deals in the preceding session, representing a shortfall in the number of deals by 7.09 per cent, and a surge in the trading volume and value by 800.00 per cent, 1,028.60 per cent, respectively.
First HoldCo was the most active stock after it traded 10.5 billion units for N324.5 billion, UBA sold 157.5 million units valued at N7.6 billion, Access Holdings transacted 124.6 million units worth N3.3 billion, Universal Insurance exchanged 124.1 million units valued at N90.0 million, and Zenith Bank traded 66.3 million units worth N5.1 billion.