Nigerian Exchange Grows by N985bn to N88.92trn – Market Wrap
The Nigerian Exchange (NGX) grew by N985 billion week on week to N88.92 trillion with four days of positive price movement before the last moment swerve on Friday.
The stock market ended the week on a bullish note, snapping out of its recent cautious trend as renewed investor appetite lifted major indices higher.
The market surge was driven largely by broad-based demand across key sectors and selective interest in heavyweight counters. Stockbrokers related that the upsurge underscored the resilience of local equities even as caution continued to linger among market participants.
The benchmark NGX All-Share Index (ASI) advanced by 1.13 percent week-on-week, closing at 140,545.69 points from 138,980.01 points recorded in the previous week.
In the same vein, the total market capitalisation swelled by N985 billion to settle at N88.92 trillion, thereby raising the year-to-date return to a healthy 36.55 percent.
Stockbrokers at Cowry Asset Limited said while this strong showing highlights sustained inflows and renewed investor confidence, the underlying market breadth told a different story.
At 0.96x, with 47 gainers relative to 49 decliners, the uptrend was clearly selective, powered more by liquidity chasing bellwether stocks than by broad-based buying interest.
The investment firm highlighted that the trading pattern reveals that a sense of caution still pervades the market despite the headline rally.
Activity levels in the market were equally robust, according to stockbrokers, reflecting stronger conviction and participation from both institutional and retail investors.
The total number of deals rose by 12.80 percent to 132,841, while the traded volume climbed 2.36 percent to 3.19 billion units. In addition, the value of transactions expanded by 10.54 percent week-on-week to N99.70 billion.
According to Cowry Asset, this combination of higher deals, stronger volume, and a significant jump in value underscores not only heightened liquidity but also a visible tilt towards large-cap, blue-chip counters that continue to attract sizeable inflows.
Sectoral performance painted a uniformly positive picture as all six tracked indices closed higher.
The Commodity Index led the pack with a 2.73 percent gain, supported by sustained appetite for commodity-linked stocks, while the Insurance Index followed closely with a 2.45 percent rise on the back of renewed interest in low-priced and resilient counters.
The Oil and Gas sector also advanced by 2.38 percent, benefiting from improved sentiment in downstream plays amid a recovery in global oil prices.
Banking stocks posted a 1.68 percent increase as investors rotated back into tier-one names after the profit-taking that dominated earlier sessions.
The Industrial Goods sector added 1.13 percent, buoyed by gains in cement majors, while Consumer Goods stocks rose by 0.98 percent, rounding off what was broadly a week of green across the board.
ETRANZACT emerged the star gainer, surging 37.8 percent. NCR followed with a strong 31.6 percent rally, while REGALINS and CHELLARAM each advanced 26.7 percent.
JOHNHOLT also joined the top gainers, closing the week with an 18.3 percent rise. On the other end of the spectrum, UNIONDICON led the laggards’ chart with a 19.0 percent decline.
ETERNA shed 18.4 percent, THOMASWY retreated 16.3 percent, ENAMELWA dropped 12.6 percent, and UPDC rounded out the top five losers with an 11.1 percent decline.
Stock traders at Cowry Asset Limited expect the Nigerian equities market to trade with a cautious bullish bias, noting that sustained investor interest in bellwether stocks and improved market liquidity could extend the positive momentum.
However, weak market breadth highlights lingering caution, suggesting that gains may remain selective across sectors. Profit-taking in recently rallying counters is also likely, particularly among top gainers.
Overall, market direction will be shaped by liquidity levels, portfolio rebalancing, the outcome of the August 2025 CPI data and forthcoming MPC meeting as investors weigh equities against attractive yields in the fixed-income space. #Nigerian Exchange Grows by N985bn to N88.92trn – Market Wrap
