Nigeria’s equities market opened the new month on a bullish note on Wednesday, as fresh listings by FCMB Group Plc and VFD Group Plc boosted investor sentiment and lifted overall market value.

The Nigerian Exchange (NGX) All-Share Index (ASI) rose by 0.21 per cent to close at 201,703.55 points, while market capitalisation surged by N599.41 billion to N129.81 trillion, largely driven by the admission of new shares into the market.

On the gainers’ table, International Energy Insurance Plc led with a 9.91 per cent increase, trailed by RT Briscoe Plc, Mutual Benefits Assurance Plc, Zenith Bank Plc and Guaranty Trust Holding Company Plc.

However, market breadth closed negative, as 41 stocks recorded losses compared to 21 gainers. Omatek Ventures Plc and Nestlé Nigeria Plc topped the losers’ chart with a 10 per cent decline each, followed by FTN Cocoa Processors Plc and Chams Holding Company Plc.

Sectoral performance reflected a broadly positive sentiment, with the Banking index advancing by 3.21 per cent. The Insurance and Industrial Goods indices also posted marginal gains, while the Consumer Goods and Oil & Gas sectors recorded declines.

Trading activity was influenced by the listing of 5.07 billion ordinary shares of 50 kobo each by VFD Group Plc, alongside 23.18 billion ordinary shares by FCMB Group Plc, stemming from its public offer of 16 billion shares priced at N10.00 per share.

Market analysts said the listings injected fresh liquidity into the bourse and supported price appreciation in select banking and blue-chip stocks, as investors took positions in fundamentally sound counters.

Despite the positive close, trading performance was mixed. Total volume traded declined by 4.67 per cent, while the value of transactions jumped by 23.15 per cent, reflecting increased activity in high-value stocks.

Data from NGX showed that investors exchanged 815.48 million shares valued at N33.29 billion in 52,641 deals during the session.

Wema Bank Plc emerged as the most traded stock by volume, accounting for 9.56 per cent of total transactions. It was followed by Guaranty Trust Holding Company Plc, Access Holdings Plc, First Holdco Plc and Zenith Bank Plc.

Guaranty Trust Holding Company Plc also dominated the value chart, contributing 26.97 per cent of total traded value, underscoring strong institutional interest.

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