Renewed investor appetite for undervalued stocks is expected to sustain a positive rally in the Nigerian Exchange (NGX) this week, as market sentiment remains upbeat following weeks of strong performance across major indices.
The local bourse extended its winning streak for the sixth consecutive week, buoyed by steady investor confidence and buying momentum. The NGX All-Share Index (ASI) advanced by 1.35% to close at 148,977.64 points, while market capitalization rose by 1.36% to ₦94.56 trillion.
These gains pushed the year-to-date (YTD) return to 44.74%, reflecting the cumulative value appreciation across several listed companies on the exchange.
According to a market update by Futureview Financial Limited, the week also witnessed structural changes on the NGX as the Alternative Securities Market (ASEM) Board was officially closed. Juli Plc transitioned to the Growth Board, while trading in Smart Products Nigeria Plc was suspended ahead of its planned delisting due to non-compliance with listing requirements.
Market breadth was largely positive, as four out of five key sectors closed in the green. In total, 52 equities recorded price appreciation during the week.
Top-performing stocks included Sovereign Trust Insurance Plc (+11.21%), Transnational Power Company Plc (+8.92%), SFS Real Estate Investment Trust (+9.88%), Stanbic IBTC Holdings Plc (+8.26%), Dangote Cement Plc (+4.35%), Lafarge Africa Plc (+4.27%), and BUA Foods Plc (+3.22%).
However, 41 equities closed in the red, led by UAC of Nigeria Plc (-8.53%), Nigerian Breweries Plc (-2.56%), United Capital Plc (-5.61%), Wema Bank Plc (-4.76%), and Oando Plc (-2.11%).
Trading volume and value showed moderate activity, with investors exchanging 2.42 billion shares worth ₦76.62 billion in 126,591 deals—slightly lower in value compared to the previous week’s ₦90.28 billion turnover from 2.29 billion shares traded in 138,177 deals.
The Financial Services sector dominated trading activity, accounting for 1.66 billion shares valued at ₦32.57 billion in 56,253 deals, representing 68.65% and 42.50% of total equity turnover volume and value, respectively.
The ICT sector followed with 184.88 million shares worth ₦8.66 billion in 11,500 deals, while the Services sector ranked third with 154.54 million shares valued at ₦1.07 billion across 5,975 deals.
Notably, the top three traded stocks—Consolidated Hallmark Holdings Plc, Fidelity Bank Plc, and Access Holdings Plc—jointly accounted for 618.55 million shares valued at ₦9.22 billion across 9,277 deals. These three securities represented 25.54% of total traded volume and 12.03% of market value for the week.
Comparatively, the number of gainers rose to 52 from 51 in the previous week, while 41 equities declined, matching last week’s tally. The count of unchanged stocks dropped slightly to 53 from 55 recorded earlier.
Analysts at Futureview Financial Limited noted that the overall market tone remains optimistic, underpinned by continued investor interest in fundamentally strong and undervalued stocks. The firm projects modest gains in the coming week, driven by anticipation of robust third-quarter (Q3) earnings and sustained liquidity inflows.
“The equities market is likely to maintain its upward trajectory next week, supported by bargain hunting in undervalued stocks and expectations of impressive Q3 results,” the report stated.
Market experts believe that as investors rotate portfolios and position ahead of the earnings season, renewed demand for growth and value stocks could further strengthen the NGX’s performance into year-end.
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