The Nigerian equities market maintained a strong bullish momentum on Wednesday, as trading activities closed on a positive note across major market indicators, lifting the All-Share Index to an all-time peak.

The benchmark All-Share Index advanced by 0.23 per cent to settle at 251,191.02 basis points, up from 250,614.66 points recorded in the previous session.

Consequently, the total market capitalisation expanded by over N374bn to close at N163.06tn, compared to N162.68tn reported on Tuesday. This upward trajectory reflects sustained investor interest and key portfolio realignments across blue-chip counters and high-yield instruments.

A broader assessment of market trends over the trading week highlights an uninterrupted upward movement from Thursday, September 17, when the All-Share Index stood at 246,315.38 points with a capitalisation of N159.89tn.

Across the five-day trading period, the market index averaged 249,616.48 points, recording its lowest level at 246,315.38 points before peaking at Wednesday’s high of 251,191.02 points.

Market sentiment has remained resilient despite macro-environmental factors, including the Central Bank of Nigeria retaining its benchmark Monetary Policy Rate at 23.00 per cent.

Sectoral performance across the local bourse showed broad-based gains led by banking, insurance, and consumer goods stocks, which offset modest pullbacks in heavy industrial counters. The NGX Banking Index climbed to 2,748.63 points from 2,725.39 points, driven by investor demand in tier-one and tier-two lenders.

Similarly, the NGX Insurance Index gained ground to close at 1,093.23 points, up from 1,081.54 points on Tuesday. The NGX Consumer Goods Index advanced to 4,092.56 points, while the NGX Oil and Gas Index nudged higher to 6,014.43 points.

On the other hand, the NGX Industrial Goods Index slipped to 10,463.54 points from 10,479.35 points, impacted by slight price depreciation in major cement producers.

In the banking and financial services sector, investor demand remained robust across both Premium and Main Board listings. Zenith Bank Plc experienced an upward shift, closing 2.27 per cent higher at N135.00 after trading over 32.85 million shares across 3,102 deals.

Access Holdings Plc and First HoldCo Plc also recorded positive performance, appreciating by 1.16 per cent to N30.50 and 1.35 per cent to N165.00, respectively. Guaranty Trust Holding Company Plc saw steady trading to close at N137.50, while Fidelity Bank Plc dominated execution volume in the sector, exchanging over 170.71 million shares.

Eterna Plc emerged as the top gainer, rising by 10.00 per cent to close at N38.50 per share. Thomas Wyatt Nigeria Plc followed closely with a 9.88 per cent gain to settle at N2.78, while Critical Minerals Financing Corporation Plc appreciated by 9.76 per cent to N2.70. Haldane McCall Plc and Omatek Ventures Plc also posted notable gains of 9.70 per cent and 9.63 per cent, closing at N3.28 and N1.48, respectively.

Other high-performing equities included John Holt Plc, Sovereign Trust Insurance Plc, Nigerian Aviation Handling Company Plc, and Honeywell Flour Mill Plc.

Conversely, Caverton Offshore Support Group Plc topped the losers list after dropping 9.09 per cent to close at N4.00 per share. University Press Plc recorded a 9.00 per cent decline to settle at N4.55, while Coronation Insurance Plc lost 6.30 per cent to close at N2.23.

Veritas Kapital Assurance Plc declined by 5.45 per cent to N1.04, and United Capital Plc shed 5.00 per cent to end the session at N17.10. Profit-taking activities were also witnessed in C&I Leasing Plc, Africa Prudential Plc, and NPF Microfinance Bank Plc.

Overall, investors exchanged a total of 1.59 billion shares valued across 49,736 deals. Transactions on the Main Board constituted the vast majority of volume, accounting for 31,617 trades and over 1.46 billion shares.

Market analysts expect the overall positive sentiment in the equities market to persist in near-term sessions, anchored by strong corporate fundamentals and targeted institutional buying.