NGX Index, Market Cap Expands as Investors Gain N1.1trn
The Nigerian Exchange (NGX) All-share index and market capitalisation expanded as equity investors gained N1.1 trillion over the last five trading sessions in the local bourse.
The local stock market ended the week on a strong bullish note, extending its positive momentum as broad-based gains in key counters lifted overall performance.
The NGX All-Share Index (ASI) advanced by 1.03% week-on-week to close at 244,775.83 points, while market capitalisation rose to ₦157.09 trillion, representing an increase of approximately ₦1.10 trillion, stockbrokers reported.
At the close of the trading session, the year-to-date return strengthened further to 57.30%, underscoring sustained investor confidence in the domestic bourse.
Stockbrokers noted that market breadth improved, closing positive at 1.92x, with 69 gainers against 36 decliners, reflecting selective but persistent buying interest across listed equities.
Trading activity also recorded notable improvement during the week, as the number of deals, volume traded, and total value exchanged increased by 21.86%, 23.85%, and 20.77% week-on-week, respectively.
In total, investors exchanged 5.99 billion shares worth ₦347.81 billion across 406,393 deals, indicating heightened participation and stronger market engagement, Cowry Asset Management Limited said in its update.
The firm said sectoral performance closed the week broadly positive, with strong gains across the Industrial Goods, Insurance, and Banking sectors, while mild bearish sentiment persisted in the Oil & Gas and Consumer Goods space.
The Industrial Goods index emerged as the top performer, advancing by 5.11% week-on-week, driven by sustained buying interest in CAP, MEYER, and BUACEMENT.
Similarly, the Insurance sector gained 4.01% following renewed investor appetite for SOVRENINS (+20.10%), LINKASSURE, and CONHALLPLC, while the Banking sector appreciated by 1.89% on the back of strong demand for ETI, FIDELITYBK, and GTCO.
Conversely, the Oil & Gas sector declined by 3.27%, pressured primarily by profit-taking activities in ARADEL despite positive price movements in TOTALENERGIES, JAPAULGOLD, and OANDO.
The Consumer Goods sector also closed marginally lower by 0.26%, weighed down by sell pressure in GUINNESS, PZ, and HONYFLOUR reflecting sector-specific profit-taking. On the gainers’ chart, CAP led with a 61.0% gain, followed by ZICHIS (+53.2%), FTNCOCOA (+50.9%), RTBRISCOE (+41.0%), and DANGSUGAR (+33.4%), driven by strong demand.
On the losers’ side, NAHCO (-20.9%), GUINNESS (-19.0%), ACCESSCORP (-12.6%), MTN (-12.4%), and UPDC (-12.2%) topped the list, reflecting profit-taking and sustained sell pressure in select large-cap stocks.
“The Nigerian equities market maintained a strong bullish outlook, supported by sustained investor confidence, rising trading activity, and broad sectoral gains, particularly in industrial goods, banking, and consumer stocks.
“However, short-term volatility may persist due to profit-taking in recently rallying large-cap stocks and ongoing sector rotation.
“Overall, the market’s outlook remains positive, though gains are expected to become more selective, with future direction largely driven by macroeconomic conditions such as inflation, interest rates, and FX stability”, said investment firm Cowry Asset Limited.
