— Omatek, Red Star, RT Briscoe Lead Gainers
By Taiye Olayemi | Naija247news Business Desk
Lagos, July 9, 2025 — Nigeria’s equities market extended its bullish momentum for the third consecutive trading day, recording a gain of ₦212 billion on Wednesday, with robust buying interest in mid- and small-cap stocks driving the rally.
Market capitalization surged to ₦76.970 trillion from ₦76.758 trillion at the close of Tuesday’s session, while the Nigerian Exchange All-Share Index (NGX ASI) rose by 335.74 points or 0.28% to close at 121,989.67.
The positive sentiment in the market was primarily fueled by aggressive accumulation in stocks such as Omatek Ventures Plc, Red Star Express Plc, RT Briscoe Nigeria Plc, and C&I Leasing Plc, all of which posted double-digit percentage gains.
Omatek Ventures and RT Briscoe were among the top movers, each soaring 10% to close at ₦1.21 and ₦3.85 per share respectively. Red Star Express also climbed 10% to ₦11.11 per share, while C&I Leasing added 10% to finish at ₦7.26 per share.
Bond instrument FG20203151 led the overall gainers’ chart, appreciating by 12.10% to settle at ₦108.20.
Meanwhile, market breadth remained solidly positive with 60 stocks advancing and 21 declining, signaling continued investor appetite in select sectors despite ongoing macroeconomic uncertainties.
On the losers’ side, Legend Internet dropped 8.05% to ₦8.00 per share, Guinea Insurance shed 7.14% to ₦1.04, while Eterna Plc declined 4.65% to close at ₦41.00. ETranzact and Regal Insurance also dipped 4.44% and 4.35% to end the session at ₦8.60 and 88 kobo respectively.
Despite a slight dip in trading volume compared to the previous session, market turnover remained strong. A total of 888.70 million shares valued at ₦15.61 billion exchanged hands across 24,303 deals, slightly lower than Tuesday’s 1 billion shares worth ₦19.48 billion traded in 24,770 deals.
Ja Paul Gold Plc led the activity chart by volume, transacting 137.34 million shares worth ₦410.88 million. Access Holdings followed closely with 83.04 million shares valued at ₦1.85 billion, underscoring the renewed interest in banking stocks.
Insurance sector players AIICO and Universal Insurance also posted significant volumes, trading 50 million and 41.95 million shares respectively. Ellah Lakes Plc closed the top five volume drivers with 31.94 million shares valued at ₦330.97 million.
Market analysts say the continued bullish sentiment is underpinned by bargain-hunting, expectations of improved half-year corporate earnings, and confidence in fiscal reforms under the Tinubu administration.
“Investors are reacting positively to improved regulatory clarity and anticipations of sectoral gains from ongoing policy reforms, especially in agriculture, banking, and logistics,” said Abdulhakeem Oladimeji, an investment analyst at GTI Capital.
The Nigerian stock market has remained one of the top-performing exchanges in Africa in 2025, and Wednesday’s rally further cements its bullish position, with the ASI now inching closer to the 122,000-point mark.
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Reporting by Naija247news in Lagos, Nigeria.
