The Nigerian equities market closed the midweek trading session on Wednesday on a bullish note, as gains in Nestle Nigeria Plc and others pushed the overall market capitalisation up by N71bn.
Precisely, the All‑Share Index rose by 109.41 points, representing a gain of 0.04 per cent, to close at 244,912.24 points. Similarly, market capitalisation appreciated by N71bn to close at N158.087tn.
The upturn was driven by price appreciation in large‑ and medium‑capitalised stocks, including Nestle Nigeria, First Holdco, AVA Capital, VFD Group, and FCMB Group.
However, investor sentiment remained negative as 27 decliners outpaced 20 advancers. Linkage Assurance emerged as the highest price gainer with a 9.94 per cent rise to close at N1.77 per share. AVA Capital followed with a gain of 9.55 per cent to close at N10.90, while Fortis Global Insurance rose by 7.69 per cent to close at N2.80 per share.
McNichols appreciated 7.34 per cent to close at N5.85, while Wapic Insurance advanced 5.51 per cent to close at N2.49 per share. Related News Dangote eyes $5bn IPO to finance refinery expansion Linkage Assurance records 74% profit growth in H1 FirstHoldCo hits historic N6tn market capitalisation milestone
