NGX Retakes N95trn Valuation as Investors Gain N1.54trn
The Nigerian Exchange (NGX) retook N95 trillion in market capitalisation as equity investors gained N1.54 trillion week on week in the domestic bourse.
The Nigerian equities market extended its December momentum, riding on a fresh wave of optimism and stronger buying interest as investors positioned ahead of year-end flows.
The market’s mood was visibly upbeat, with confidence deepening and the seasonal effect firmly taking hold across major blue-chip and mid-tier names, according to Cowry Asset Limited.
The benchmark All-Share Index advanced by 1.63% to settle at 149,433.25 points, inching closer to the symbolic 150,000 threshold as sentiment turned broadly constructive.
Equities market capitalization moved in tandem, rising by 1.64% to N95.26 trillion, translating to N1.54 trillion in gains for equity holders over the five-day trading window, stockbrokers reported.
The positive price movement pushed the year-to-date return to an impressive 45.18%, supported by a positive market breadth of 49 gainers against 41 laggards.
Trading activity indicated the market shifted away from the high-volume speculative burst seen earlier, tilting instead toward more deliberate, value-driven accumulation.
In an update, Cowry Asset Limited told investors that weekly volume slipped by 33.91% to 4.37 billion units, while turnover value declined by 13.66% to N97.87 billion from 6.62 billion units and N113.35 billion previously.
Despite the softer trading activities in the local bourse, total trades held steady, inching up by 1.08% to 110,866 deals compared with last week’s 109,680.
Sectoral performance closed on a mixed note as three indices finished in the green and three closed lower. The NGX Insurance index outperformed the pack, climbing 3.40%, while Consumer Goods followed with a 2.64% gain.
The Industrial Goods index made a mild advance of 0.23%. On the flip side, the NGX Commodity index led the decline with a 0.49% drop, while the Oil & Gas and Banking indices edged lower by 0.13% and 0.12% respectively.
Among individual stocks, MORISON led the charge with a standout 32.5% weekly gain, followed by MECURE at 27.3%, JAPAULGOLD at 26.7%, SOVRENINS at 17.2%, and PZ Cussons at 16.2%, reflecting heightened investor interest driven by perceived upside potential.
Meanwhile, Eterna Plc emerged as the worst performer, shedding 14.9% week-on-week. It was followed by UACN, down 14.3%, while eTranzact and Transcorp Hotels each lost 10%, and Chellarams declined by 9.9% as investors rebalanced positions into more compelling opportunities.
Overall, the market’s upward stride remains intact as investors continue to rotate into fundamentally stronger counters ahead of the expected liquidity uptick that typically accompanies the close of the year.
“… We anticipate a bullish outing as the year-end seasonal activities take full effect. Meanwhile, we will continue to advise investors to take positions in fundamentally sound stocks,” Cowry Asset Limited said in a note. Morison Industries Extends 3-Day Rally Amidst Earnings Pressure
