NGX ends Wednesday on a high note, driven by gains in Nestle and other stocks, adding ₦71bn to the market.

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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.

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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.

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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.

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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.

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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.

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On the flip side, Honeywell Flour Mills and PZ Cussons Nigeria led the losers’ chart, dropping 9.94 per cent each to close at N16.30 and N74.75, respectively. Zichis Agro Allied Industries followed with a decline of 9.74 per cent to close at N20.76 per share.

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Learn Africa depreciated 9.62 per cent to close at N9.40, while Neimeth International Pharmaceuticals declined 8.33 per cent to close at N8.25 per share.

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The total volume traded fell 47.3 per cent to 824.06 million units, valued at N25.47bn and exchanged in 48,114 deals.

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Transactions in the shares of FCMB Group led market activity with 358.395 million shares worth N3.948bn. Chams Holding Company followed with a volume of 33.923 million shares valued at N146.721m, while Access Holdings traded 25.332 million shares valued at N661.210m.

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First Holdco traded 21.911 million shares worth N2.780bn, while Linkage Assurance traded 18.437 million shares worth N31.539m.

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