The Nigerian Exchange (NGX) closed on a strong note on Wednesday, recording a ₦360 billion single-day gain as two firms, Chellaram and FTN Cocoa Processors, led the market rally.

The growth was fueled by increased buying interest and bargain hunting in both medium- and large-cap stocks. Other top gainers included Berger Paints, Sunu Assurances, and Livestock Feeds, among 33 stocks that posted impressive performances.

At the close of trading, the market capitalisation rose by 0.41%, climbing to ₦88.813 trillion, up from Tuesday’s ₦88.453 trillion. Similarly, the All-Share Index (ASI) gained 569.25 points to settle at 140,356.36.

However, it wasn’t all positive, as 27 stocks closed in the red. FG162029S1 topped the losers’ chart with a 49.49% drop, while May & Baker, Union Dicon Salt, and Thomas Wyatt Nigeria also recorded losses.

Trading activity remained vibrant, with 767.7 million shares worth ₦40.64 billion exchanged in 24,837 deals. This marked an increase from Tuesday’s 659.2 million shares valued at ₦12.5 billion. FCMB Group emerged as the most traded stock, with 287.7 million shares worth ₦3.1 billion changing hands.

With investors showing renewed confidence, analysts say the mid-week rally reflects strong market sentiment, especially in consumer and financial stocks.