Equity Investors Gain N1.67trn over Strong Year-End Rally
Equity investors trading highs and lows in the Nigerian Exchange (NGX) gained N1.67 trillion as the year-end rally gained momentum with interest across sectoral names.
Stockbrokers reported that risk appetite dominated the Nigerian equities market as broad-based buying interest swept across blue-chip names, large caps and fundamentally sound stocks ahead of the Christmas holiday.
The familiar year-end calendar effect and window-dressing activities came through strongly, Cowry Asset Management Limited said in a note, reinforcing bullish sentiment and pushing several stocks to fresh 52-week highs.
The benchmark index or the All-share index climbed 1.76% week-on-week to close at 152,057.38 points, extending the year-end rally and underscoring sustained confidence in financial and consumer-facing stocks.
With investors aggressively taking positions, year-to-date returns strengthened further to 47.73%, stockbrokers said in their separate update released.
NGX market capitalization mirrored the index performance, rising by 1.76% to N96.94 trillion as the market pressed closer to the psychologically significant N100 trillion mark.
Due to increased risk taking, equity investors’ portfolio value rose by N1.67 trillion in one week. Trading activity turned sharply upbeat, reflecting renewed participation and broad-based conviction.
Market analysts said this was clearly evident in market breadth, which closed at a strong 1.57x, with 55 advancers outweighing 35 decliners. Weekly trading volume surged by 125.2% to 9.85 billion units, while turnover value jumped by 212.6% to N305.89 billion.
These trades were executed across 126,637 deals, Cowry Asset Limited said in its note, highlighting a decisive return of risk-on behaviour and stronger liquidity across the market.
Sectoral performance leaned firmly bullish, with five of the six sectors under coverage closing in positive territory. The Consumer Goods sector led the advance, gaining 2.75%, buoyed by strong performances in GUINNESS and CHAMPION BREWERIES.
The Banking sector followed closely with a 2.73% gain as investors increased exposure to fundamentally robust names such as FIRSTHOLDCO and AFRIPRUD. The Industrial Goods sector also delivered solid gains, advancing by 1.09% on the back of buying interest IN BUA CEMENT and BERGER.
Insurance and Commodity indices edged higher by 0.96% and 0.34% respectively, supported by selective accumulation in OKOMU OIL, SUNU ASSURANCES and SOVEREIGN TRUST INSURANCE.
The lone laggard was the Oil and Gas sector, which dipped marginally by 0.17% amid mild profit-taking in JAPAUL GOLD and ETERNA.
Based on performance, ALUMINIUM EXTRUSION COMPANY (ALEX) topped the chart with a remarkable 59.4% weekly gain, followed by MECURE at 44.9%, FIRSTHOLDCo at 42.9%, GUINNESS at 33.0% and NPF Microfinance Bank at 20.6%.
Conversely, LIVESTOCK FEEDS, JAPAUL GOLD, INTERNATIONAL ENERGY INSURANCE, FTN COCOA and STANBIC IBTC recorded losses of 11.4%, 10.5%, 9.9%, 9.8% and 9.3% respectively, as some investors locked in profits or rebalanced portfolios.
Cowry Asset Limited said technically, the market remains firmly in an uptrend, with the index sustaining a pattern of higher highs and higher lows.
However, the firm noted that momentum indicators on some heavily traded stocks are beginning to flash signs of overextension, suggesting the possibility of short-term consolidation or mild pullbacks.
“Such pauses are viewed as healthy within the broader bullish structure and are likely to present fresh entry points for medium-term investors.
“Looking ahead into the Christmas week, market sentiment is expected to remain positive, though increasingly selective.
“Sector rotation should persist, with investor focus skewed toward stocks offering strong fundamentals, reasonable valuations and clear earnings visibility.
“While profit-taking may temper sharp upside moves, any price weakness is likely to attract bargain hunters, keeping the broader market bias tilted to the upside. Meanwhile, we will continue to advise investors to take positions in fundamentally sound stocks”, the investment firm stated. Global Credit Resilience to Face Major Tests in 2026 – Fitch
