NGX Closes Mixed as Jaiz Bank and Okomu Lead Top Gainers

Trading on the Nigerian Exchange Limited (NGX) ended on a mixed note on Wednesday, as investor activity rose but market breadth remained negative. Market data showed that 1,375,310,472 shares changed hands in 70,143 deals, with total turnover valued at ₦45.73 billion, while overall market capitalisation stood at ₦124.8 trillion.

Compared with Tuesday’s session, transaction volume improved by 22 per cent, but the number of deals slipped by 3 per cent. Out of 131 equities that recorded activity during the day, 54 closed lower, while 22 posted gains, reflecting continued caution across several counters despite selective buying in banking and consumer-linked names.

Jaiz Bank Plc led the gainers’ table after its share price advanced by 9.95 per cent to close at ₦14.03. Okomu Oil Palm Plc followed with a 9.93 per cent rise. Trans-Nationwide Express Plc gained 9.77 per cent, while Fortis Global Insurance Plc appreciated by 9.72 per cent.

Other stocks that finished in positive territory included Champion Breweries Plc, which rose by 5.39 per cent to ₦17.60 per share, and Africa Prudential Plc, which added 4.17 per cent to close at ₦35.00. Market participants said the gains in selected equities showed that investors were still searching for value, even as sell pressure persisted in other segments of the market.

Analysts said the session reflected a market that is still balancing profit-taking with bargain hunting. They noted that a rise in traded volume, alongside weaker breadth, often points to rotation rather than a broad-based rally. For short-term traders, the focus remains on momentum counters, while long-term investors are expected to keep watching earnings strength, dividend outlook, and valuation levels before taking larger positions.

Brokers added that sentiment may remain mixed in the near term as investors react to company disclosures and wider macroeconomic signals. They said sessions with uneven breadth can still create opportunities in fundamentally strong stocks, especially where earnings momentum is backed by resilient demand and stable balance sheets. For now, the NGX tone remains selective, with funds moving quickly to counters that show clearer upside potential.