…Equities gain 0.1% as 31 stocks advance; market turnover falls, signalling cautious investor participation
THUR OCT 15 2026-theGBJournal| Nigeria’s stock market staged a modest recovery on Wednesday, offering investors a welcome reprieve after weeks of relentless selling pressure, as gains in banking, oil and gas stocks helped lift the benchmark index into positive territory.
The Nigerian Exchange All-Share Index rose 0.1% to close at 247,673.66 points, buoyed by advances in Aradel Holdings, Access Holdings, eTranzact International and Wema Bank.
The rebound was hardly a decisive comeback, but it offered a glimmer of relief in a market that has endured a bruising bearish run, with investors looking for signs that the worst of the selling may be easing.
eTranzact led the charge among the heavyweight gainers, jumping 9.8%, while Wema Bank added 2.7%. Aradel Holdings advanced 1.7%, and Access Holdings gained 1.4%.
The positive close lifted the market’s year-to-date return to 59.2%, although its month-to-date performance remained negative at -1.4%, underscoring the recent weakness that has weighed on sentiment.
Market breadth offered further evidence of a tentative improvement in investor mood.
Thirty-one stocks advanced against 17 decliners, producing a positive breadth ratio of 1.8 times.
AUSTINLAZ topped the gainers’ table, climbing 10.0%, narrowly ahead of eTranzact’s 9.8% advance.
At the other end of the market, UPDC Real Estate Investment Trust plunged 10.0%, while UPDC fell 6.0%.
Yet, beneath the green close, investors remained cautious.
Total trading volume dropped 20.1% to 314.91 million shares, valued at N28.59 billion across 30,956 deals.
The decline in turnover suggested that the recovery had yet to attract a broad resurgence of trading activity.
Access Holdings dominated transactions by volume, with 99.37 million shares changing hands, while Seplat Energy led by value, accounting for N14.46 billion in trades.
Sectoral performance was mixed but tilted towards the upside. The oil and gas index gained 0.6%, insurance advanced 0.4%, and banking rose 0.1%.
Consumer goods stocks slipped 0.2%, while industrial goods ended unchanged.
The session’s performance suggests that buyers were willing to return selectively, although the weaker trading volume indicates that conviction remains limited.
Whether Wednesday’s advance marks the beginning of a sustained recovery or merely a pause in the sell-off will depend on the market’s ability to attract follow-through buying in subsequent sessions.
NASD Market Extends Gains
Elsewhere, the NASD over-the-counter market also closed higher, with its Securities Index rising 0.95% to 4,347.17 points.
Market capitalisation increased 0.93% to N2.61 trillion, lifting the index’s year-to-date return to 22.67%.
Trading activity, however, weakened sharply.
Volume fell 72.64% to 511,344 units, while transaction value declined 16.15% to N38.94 million.
SDFCWAMCO led the gainers, advancing 9.99%, while SDMRS fell 7.57% to lead the decliners.
Naira Firms as External Reserves Edge Higher
In the currency market, the naira strengthened marginally at the official window, with the exchange rate appreciating 0.1% to N1,332.73 per dollar.
Nigeria’s external reserves also continued to improve, rising 0.004% to $55.10 billion as of October 13, extending the recent increase in the country’s external buffers.
The combination of a positive equity close, a firmer official exchange rate and rising reserves offered some encouraging signals across Nigeria’s financial markets.
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