NGX Surges by N3.34trn, Year-to-Date Return Rises to 61%
With a year-to-date return of about 61%, the Nigerian Exchange (NGX) surged by N3.34 trillion as investors continued to bet on the earnings potential of some companies’ stocks.
The local bourse ended the week on a strong bullish note, as sustained gains in key counters drove overall market performance.
The NGX All-Share Index (ASI) advanced by 2.27% week-on-week to close at 250,330.92 points, while market capitalisation rose to ₦160.44 trillion, reflecting an increase of approximately ₦3.34 trillion.
Consequently, year-to-date returns strengthened to 60.87%, underscoring continued positive investor sentiment. Market breadth also improved, closing positive at 2.24x with 65 gainers against 29 losers, indicating selective but firm buying interest across the bourse.
Trading activity remained strong, despite a 14.18% decline in the number of deals. However, traded volume and value increased by 13.47% and 15.93% week-on-week, respectively. Overall, investors exchanged 7.53 billion shares worth ₦359.93 billion across 398,655 deals, reflecting robust participation.
Sectoral performance was largely positive, led by gains in the Industrial Goods, Banking, Insurance, and Consumer Goods indices, which rose by 4.66%, 2.82%, 2.74%, and 1.65% respectively. In contrast, the Oil & Gas and Commodity indices declined by 1.19% and 0.80%.
On the gainers’ chart, BERGER led with a 41.8% increase, followed by UPDCREIT (+37.0%), ABBEYBDS (+34.5%), SCOA (+32.7%), and DAARCOMM (+29.7%), driven by strong buying interest.
On the losers’ side, PRESCO (-11.9%), NCR (-10.0%), CUSTODIAN (-9.5%), ELLAHLAKES (-9.5%), and STANBIC (-7.9%) recorded declines, largely due to profit-taking and sustained selling pressure.
Looking Ahead, the Nigerian equities market is expected to remain broadly positive in the near term, Cowry Asset Limited told investors in a note, adding that gains may slow as investors take profits after the recent rally.
“Selective buying is likely to persist in strong sectors such as banking, industrial goods, and consumer stocks, while oil & gas and commodity counters may remain weak.
“Overall sentiment stays constructive, but volatility may increase as the market consolidates recent gains and reacts to macroeconomic developments”, the firm told investors in its brief. “Our Youth Do Not Need Handouts”, Elumelu Says at Africa Summit
