The Nigerian Exchange (NGX) extended its bullish undertone on Wednesday, closing marginally higher as selective bargain hunting offset profit-taking across key sectors.

The All-Share Index (ASI) inched up by 0.01 per cent to 166,267.60 points, while market capitalisation rose by N6.9 billion to N106.44 trillion, reflecting sustained investor confidence despite mixed sectoral performance.

Market breadth remained firmly positive, underscoring the dominance of gainers over losers. A total of 54 stocks advanced against 24 decliners, pointing to broad-based participation.

On the performance board, MCNichols Consolidated Plc led the gainers’ chart, followed by NCR Nigeria Plc, RT Briscoe (Nigeria) Plc, Jaiz Bank Plc and May & Baker Nigeria Plc, as renewed interest in select mid- and small-cap stocks buoyed sentiment.

On the flip side, UPDC Real Estate Investment Trust, Champion Breweries Plc, Neimeth International Pharmaceuticals Plc (NSLTech), Wapic Insurance Plc and Ecobank Transnational Incorporated recorded the steepest losses.

Sectoral performance closed mixed, reflecting cautious positioning by investors. The Industrial Goods index led the gainers with a modest 0.09 per cent increase, supported by interest in cement and construction-related counters. The Consumer Goods index followed with a 0.03 per cent uptick, as selective buying persisted in food and beverage stocks. However, the Insurance index topped the losers’ table, shedding 1.01 per cent, amid profit-taking after recent rallies. The Oil and Gas index declined by 0.94 per cent, while the Commodity index fell by 0.42 per cent. The Banking index also closed lower, down 0.27 per cent, reflecting mild sell pressure in tier-one and mid-tier banking stocks.

Trading activity painted a mixed picture. Total volume traded rose by 3.43 per cent to 822.74 million shares, indicating improved participation. Transaction value surged by 24.81 per cent to N24.93 billion, suggesting increased interest in higher-priced equities and block trades. However, the number of deals declined by 4.10 per cent to 43,548 transactions, pointing to fewer but larger trades during the session.

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