Nigerian Bourse Gains N1.36trn as Tier-1 Banks’ Shares Rally
The equities segment of the Nigerian Exchange (NGX) closed in the green as buying interest in Tier-1 banks supported a N1.36 trillion weekly gain in the local bourse.
The benchmark All-Share Index (ASI) edged up 1.03% week-on-week to close at 203,770.42 points, while market capitalisation rose by 1.05% to ₦131.17 trillion.
This represents a gain of approximately ₦1.36 trillion, up from the ₦837 billion recorded the previous week, stockbrokers at Cowry Asset Limited said in an update. Staying ahead of inflation, the year-to-date return improved to 30.95%, reflecting sustained positive momentum.
However, market breadth was negative at 0.46x, with 25 stocks gaining and 54 decliners—indicating that, despite overall market growth, more stocks actually recorded losses during the week.
Trading activity also turned positive, reversing the previous week’s losses, stockbrokers said.
The number of deals, trading volume, and total value traded surged by 6.62%, 17.67%, and 33.73% week-on-week, respectively, according to Cowry Asset Limited, citing data from the Nigerian bourse.
In total, investors traded 3.36 billion shares worth ₦152.13 billion across 230,368 deals, pointing to stronger market participation.
Sectoral performance closed the week on a positive note, reflecting a market tilted toward fundamentally strong and liquid counters, with investors rotating into banking and select consumer names while trimming exposure to weaker segments such as insurance.
The Insurance sector was the sole laggard, declining by 3.64% week-on-week, pressured by significant sell-offs in Sovereign Trust Insurance and Royal Exchange, reflecting weak investor sentiment in the segment.
On the upside, the Banking sector led market performance, advancing by 5.10% week-on-week, supported by strong buying interest in tier-1 names such as Guaranty Trust Holding Company (+10.66%), Zenith Bank, and FirstHoldco.
Stockbrokers highlighted that the rally reflects sustained investor positioning in fundamentally strong banks, driven by attractive valuations and earnings resilience.
The Consumer Goods sector followed with a 3.73% gain, buoyed by renewed interest in NASCON Allied Industries and Guinness Nigeria, indicating selective accumulation in defensive consumer names.
Similarly, the Oil & Gas sector recorded a 2.67% uptick, underpinned by continued participation in Seplat Energy and Aradel Holdings, as investors maintained exposure to energy plays amid supportive pricing dynamics.
Meanwhile, the Industrial Goods sector posted a modest 0.80% gain, largely driven by buying interest in Lafarge Africa, suggesting cautious optimism in the construction and infrastructure space.
On the gainers’ chart, TRANSEXPR led with a 32.7% increase, followed by NGX GROUP (+13.9%), GTCO (+10.7%), NASCON (+9.5%), and GUINNESS (+9.4%)—largely driven by buying interest.
Conversely, DAARCOMM (-21.5%), RTBRISCOE (-20.0%), DEAPCAP (-16.8%), ELLAHLAKES (-16.7%), and JAPAULGOLD (-16.3%) topped the losers’ list, reflecting profit-taking and sustained selling pressure.
Cowry Asset Limited projected that the Nigerian equities market would maintain its positive momentum in the new week, supported by sustained buying interest in fundamentally strong and highly liquid stocks.
“Improved trading activity and rising investor participation may continue to underpin market performance. However, the negative market breadth suggests underlying fragility, as profit-taking and sell-offs in a broader range of stocks could temper gains.
“Investors are therefore likely to remain selective, focusing on value opportunities and earnings-driven plays, while monitoring macroeconomic developments and liquidity conditions for clearer market direction”, the investment firm said. Fitch Affirms Nigeria at ‘B’; Outlook Stable
