The Nigerian equities market extended its bullish run on Wednesday, closing firmly in positive territory as sustained buying interest in large- and mid-cap stocks lifted key market indicators.

The benchmark All-Share Index (ASI) advanced by 1.28 per cent to settle at 168,030.18 basis points, reinforcing the market’s recovery trajectory. In tandem, total market capitalisation expanded by N1.37 trillion, or 1.28 per cent, to close at N107.86 trillion, underscoring renewed investor confidence.

Further details from the trading session showed that the bullish close was driven largely by gains in heavyweight and bellwether stocks. Shares of MTN Nigeria Communications Plc rose by 2.9 per cent, Aradel Holdings Plc climbed 3.7 per cent, First HoldCo Plc surged by 9.9 per cent, while Lafarge Africa Plc (WAPCO) appreciated by 5.1 per cent. These gains collectively pushed the ASI higher by about 1.3 per cent on the day.

As a result, the market’s Month-to-Date return improved to 1.6 per cent, while the Year-to-Date return strengthened to 8.0 per cent.

Market sentiment remained decisively positive, with gainers significantly outnumbering losers. A total of 53 stocks closed in the green compared with 26 decliners, translating to a positive market breadth. Among the day’s top performers were Berger Paints Nigeria Plc, Daar Communications Plc, FTN Financial Services Group Plc, RT Briscoe Plc, and First HoldCo Plc, all of which posted strong price appreciations.

On the flip side, Red Star Express Plc, Deep Capital Management Plc (DEAPCAP), Union Homes Real Estate Investment Trust (UHOMREIT), McNichols Plc, and eTranzact International Plc led the laggards’ chart.

Sectoral performance was broadly positive, reflecting widespread buying interest across the market. The Banking index led the gainers, rallying by 2.33 per cent, buoyed by renewed demand for tier-one and select tier-two banking stocks. The Oil and Gas index followed with a 1.52 per cent increase, supported by gains in upstream and downstream names. The Industrial Goods index rose by 1.20 per cent, while the Consumer Goods and Commodity indices advanced by 1.09 per cent and 0.82 per cent, respectively. In contrast, the Insurance index was the sole decliner, shedding 0.84 per cent amid profit-taking in select counters.

Despite the positive price performance, trading activity weakened compared with the previous session. Total volume traded declined by between 2.2 per cent and 5.7 per cent to 694.79 million shares, while transaction value dropped sharply by 16.61 per cent to N20.57 billion. The number of deals also fell by 8.54 per cent to 42,095 transactions. CHAMS Plc emerged as the most actively traded stock by volume with 57.44 million units, while Seplat Energy Plc topped the value chart, accounting for N2.56 billion worth of trades.

Overall, the market’s strong close suggests that investor appetite for equities remains resilient, even as liquidity conditions tighten and trading volumes moderate. Market watchers expect sentiment to remain cautiously optimistic in the near term, with movements likely to be shaped by earnings releases, macroeconomic signals, and portfolio rebalancing ahead of month-end.

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