NGX Inches Near N98trn as Equities Investors Gain N953bn
The Nigerian Exchange (NGX) market capitalisation neared N98 trillion as Santa Claus rally boosted equities investors’ portfolio value by more than N953 billion in 3 days.
The local bourse closed the pre-Christmas trading week on a confident footing, Cowry Asset Management Limited said, riding a wave of festive optimism and sustained risk-on sentiment.
Equities investor appetite remained tilted toward mid- and large-cap names, stockbrokers said with consumer goods and banking stocks firmly in focus as portfolio managers continued to reshuffle positions ahead of year-end book closure.
Despite the shortened trading week, momentum stayed intact.
Data from the Nigerian Exchange showed that All-Share Index recorded gains in three sessions, clearing the 153,000 psychological threshold to close at 153,539.83 points, up 0.97% week on week.
The positive price movement was driven by renewed buying interest in bellwether stocks such as GUINNESS NIGERIA, ALUMINIUM EXTRUSION COMPANY, UBA, and BUA CEMENT.
The rally reinforced the market’s bullish bias and boosting investor confidence which supported key performance indicators.
The value of all listed companies surged by 0.98% to N97.89 trillion while market breadth remained firmly positive at 1.5x, with 44 gainers outweighing 30 losers, underscoring the broad-based nature of the advance.
As a result, equity investors flexed with N953.4 billion in weekly gains from three sessions as the exchange’s year-to-date return improved further to a robust 49.17%, cementing 2025 as a strong year for equities.
Trading activity, however, reflected the holiday-shortened week. Total volume and value traded declined sharply by 70.8% and 79.12% week on week to 2.88 billion units worth N63.86 billion.
Deal count also fell by 36.6% to 80,288 trades, compared with 126,637 in the previous week. This slowdown was more a function of fewer trading days than waning investor interest.
Sectoral performance leaned decisively positive. Five of the six sectors under coverage closed in the green, led by the NGX Consumer Goods and Banking indices, which gained 3.34% and 2.93% respectively.
These gains were supported by strong demand for INTERNATIONAL BREWERIES, MEYER, FIRSTHOLDCO, GUINNESS, and UBA, as investors positioned for earnings resilience and dividend prospects.
The Insurance sector was the lone laggard, shedding 2.13% following selloffs in NEM, MANSARD, and PRESTIGE.
The NGX Industrial and Commodity indices followed with gains of 1.17% and 0.05%, while the Oil and Gas sector closed largely flat. Advances in ALEX, AUSTINLAZ, BUACEM, and WAPCO underpinned the industrial space, keeping overall sentiment constructive.
“From a technical standpoint, the market continues to trade comfortably above its key short- and medium-term moving averages, confirming the strength of the prevailing uptrend.
“While momentum indicators remain supportive, the length of the rally suggests that mild pullbacks could emerge as traders lock in profits. Looking ahead, we expect bullish sentiment to carry into the final trading days of 2025.
“With year-end rebalancing still underway, investors are likely to remain selective, rotating into fundamentally sound stocks as positioning shifts toward the new trading year. Meanwhile, we will continue to advise investors to take positions in fundamentally sound stocks,” Cowry Asset said in a market report. First Holdco Delivers 62% YTD Return, Downgrades to Sell
