Stockholders’ Wealth Boosted by N1.69 trillion Gain on NGX
Stockholders’ wealth was boosted by a N1.69 trillion gain recorded in the Nigerian Exchange (NGX) trading platform week on week, stockbrokers said.
The local bourse sustained its bullish momentum during the week as investor sentiment turned increasingly positive, fueled by strong first-quarter 2025 earnings results. The All-Share Index (ASI) rose by 0.27% week-on-week to close at 106,042.57 points, driven by strong buy-side activities that lasted for four out of five trading sessions.
According to stockbrokers, investors’ interest was seen particularly within the consumer goods sector. In line with the index movement, the overall market capitalisation increased by 0.28% to N66.65 trillion, reflecting the underlying confidence in the equities market.
The Nigerian bourse recorded a healthier breadth last week, with 52 stocks appreciating in value compared to 36 decliners, bringing the market breadth ratio to a solid 1.44 times.
This positive breadth, combined with sustained demand in select large and mid-cap stocks, pushed the year-to-date return up to 3.03%, reaffirming the bullish undertone of the market.
Trading activity was notably upbeat as the total number of deals executed surged by 36.86% week-on-week to 70,329 deals, signalling increased participation by both institutional and retail investors.
In terms of volume, the market recorded a significant 18.63% increase, with 2.19 billion units traded in the local bourse. Similarly, the value of transactions climbed 34.60% from the previous week to settle at N75.41 billion, reflecting renewed investor appetite and a shift toward higher-value trades.
However, a deeper look at sectoral performance revealed a mixed picture, Cowry Asset Limited said in its market update. Out of the six key sectors tracked by the investment firm during the week, four closed in negative territory while only two posted gains.
The oil and gas sector led the laggards, shedding 2.90% following price declines in key stocks such as ARADEL. The insurance sector followed closely with a weekly loss of 2.89%, reflecting negative sentiment around stocks like LINKASSURE, GUINEAINS, and SUNUASSURE.
The commodities index also dipped by 1.12%, while the banking sector lost 0.38%, weighed down by losses in ACCESSCORP and ETI. On the brighter side, the consumer goods sector emerged as the best performer for the week, recording a solid gain of 2.89%.
Stock analysts reported that this was primarily driven by impressive price advances in counters such as FIDSON, CADBURY, and MAYBAKER, as investors rotated into names with promising earnings outlooks.
The industrial goods sector also managed to close the week in positive territory with a modest gain of 0.40%, buoyed by strength in stocks like CAVERTON, UPDC and BETAGLASS.
Market analysts at Cowry Asset Limited said in the market report that among individual stocks, some names stood out for their remarkable weekly performances.
LEGEND INTERNET topped the gainers’ chart with an impressive 45.6% return, followed closely by ABCTRANS, which gained 44.9%. Other notable gainers included FIDSON with 22.8%, UPL with 20.9%, and NAHCO with 20.2%, all reflecting strong investor interest and positive sentiment.
On the other hand, the worst-performing stocks included ETI, which lost 18.8%; MULTIVERSE, with a decline of 18.6%; LIVESTOCK, down by 10.6%; ARADEL, shedding 9.9%; and TRIPPLE GEE, which dipped 9.6% during the week.
Market sentiment is expected to remain upbeat in the coming week, supported by the ongoing earnings and dividend season, Cowry Asset Limited said. Investors are expected to closely monitor macroeconomic data releases — particularly the April 2025 Consumer Price Index (CPI) report from the National Bureau of Statistics (NBS), Q1 GDP figures, and the outcome of the Monetary Policy Committee (MPC) meeting scheduled for later in May.
Against this backdrop, Cowry Research reiterates a strategic advisory for investors to prioritise fundamentally sound stocks and apply due diligence in portfolio selection to navigate potential volatility and maximise returns. BUA Cement Bolsters Earnings; Profit Rises by 351% in Q1
