GTCO, Zenith, drive intraday rally in Nigerian stock market, Exchange recovers with N2.6trn Equities investors gain

With strong interest in banking names like GTCO, Zenith Bank, and Access Holdings, the Nigerian stock market Nigerian equities market rebounded strongly on Wednesday, driven by bargain-hunting in blue-chip stocks, including some heavily priced banking names. The Exchange equities market capitalization climbed ₦2.59 trillion to ₦92.48 trillion, reflecting renewed buying momentum after a depressed performance the previous day.

Market breadth was decisively positive, as 65 gainers overwhelmed 11 decliners yielding a robust 6x ratio. ACCESSCORP, MANSARD, NB, OANDO, and PZ topped the gainers’ list. Specifically, the market index (All-Share Index) added 4,076.45 basis points in today’s trading session, reflecting a 2.88% increase to close at 145,403.83. Total Volume of all trades and the total value traded increased by +22.93% and 72.77% respectively. Stockbrokers reported that approximately 806.39 million units valued at ₦50,777.60 million were transacted across 24,509 deals. Investment firm Cowry Asset hinted that deal count fell 17.08% to 24,509 trades.

This reflects heightened institutional activity through large block transactions, signalling strategic positioning as investors capitalize on attractive entry points following Tuesday’s sharp correction. GTCO led the volume chart, accounting for 13.04% of all traded volume, followed by ZENITHBANK (10.80%), STANBIC (5.43%), ACCESSCORP (4.47%), and FCMB with 4.42%. ARADEL accounted for 25.45% of the total value of all trades executed in the market, thereby making it the highest traded on the exchange. ACCESSCORP, MANSARD, NB, OANDO, PZ, ROYALEX, ETI, GTCO, SOVRENINS, WAPIC, and ZENITHBANK all topped the best performer’s chart, gaining +10.00% each, and fifty-three others.

A total of eleven stocks depreciated. On the worst performers’ chart, VITAFOAM, AUSTINLAZ, and TRANSPOWER saw a price depreciation of -10.00% each, followed by REDSTAREX (-9.80%), ABBEYBDS (-9.72%), and ASOSAVINGS (-4.44%). Hence, the market breadth closed on a positive note, as there were 64 gainers and 11 losers. Sectoral performance was broadly bullish: Banking surged 7.39%, followed by Insurance (+6.95%), Oil & Gas (+4.11%), Consumer Goods (+2.27%), and Industrial (+0.43%). Only the Commodity Index registered a marginal decline of -0.03%. Trading activity showed mixed dynamics: volume jumped 22.94% to 806.40 million shares, and transaction values soared 72.77% to ₦50.78 billion.

,stockbrokers said in their intraday update. The local bourse staged a strong rebound in the early trading hours of Wednesday as bargain-hunting in bellwether stocks lifted market sentiment, Cowry Asset Management Limited told investors in an emailed note. The marker lost more than N4.61 trillion in a sweep on Tuesday, plunging market capitalisation of all listed stocks below N90 trillion.  During early trading hours on Wednesday, there is sharp rebound as key performance indicators showed green.  The Nigerian Exchange All Share Index was up 3.34% as investors begin to take fresh positions in stocks with strong fundamentals. The investment firm said several large-cap names hit their daily limit, signalling renewed investor appetite following last week’s steep losses.

Top gainers included GTCO (+10.00%), Zenith Bank (+10.00%), Access Holdings (+10.00%), Ecobank Transnational (+10.00%), and Nigerian Breweries (+10.00%), as buying interest dominated across the banking and consumer goods sectors.

Conversely, the laggards’ chart was topped by Austin Laz (-10.00%), NEM Insurance (-9.82%), and Abbey Building (-9.72%), reflecting mild profit-taking among mid-tier counters. The day’s activity suggests renewed accumulation as investors take positions.