Investors on the Nigerian Exchange (NGX) recorded strong gains as renewed interest in industrial and banking stocks drove a significant rally, lifting market capitalisation by N2.43 trillion after weeks of volatility.
The market regained positive momentum following an extended period of profit-taking, advancing for four consecutive sessions to deliver notable gains across key indices.
The NGX All-Share Index ended the week at 147,040.26 points, representing a 2.45% week-on-week increase, a development market analysts attributed to improving investor sentiment and bargain-hunting activities.
According to stockbrokers, the upbeat performance pushed the total market value to N93.72 trillion, up from N91.29 trillion recorded the previous week, marking a 2.67% expansion. The Nigerian Exchange’s year-to-date return also rose to 42.86%, well ahead of Nigeria’s headline inflation rate of 16.05%.
Trading data showed moderately positive market breadth, with 42 gainers against 38 losers. Activity levels improved noticeably, with total deals rising 7.26% and trading volume climbing 60.26%. Although the value of traded equities slipped slightly by 2.03%, the market remained highly active, with 6.62 billion units worth N113 billion exchanged across 109,680 deals.
Sectoral performance mirrored the broader bullish trend. Industrial stocks led the charge, posting a 7.38% weekly surge, while the Banking Index gained 3.20%. Consumer Goods equities rose 1.56%, and Insurance stocks advanced 1.48%.
In contrast, the Oil & Gas Index dipped 0.57%, reflecting pressure on both upstream and downstream operators. The Commodity sector also edged lower, slipping 0.30% week-on-week.
Several equities delivered standout returns, with NCR leading gainers after appreciating 33.0%. Others included GUINNESS (+18.6%), CHAMPION (+11.6%), UACN (+11.5%), and SUNUASSUR (+11.0%), driven by sustained accumulation and improved investor appetite.
On the flip side, RTBRISCOE emerged the worst performer, shedding 12.8%, followed by LEGENDINT (-10.7%), EUNISELL (-10.0%), TRANSCOHOT (-9.9%), and LIVINGTRUST (-9.8%).
Looking ahead, analysts at Cowry Asset Limited expect the equities market to maintain a cautiously optimistic trajectory in the near term. They highlighted that fundamentally strong stocks are likely to attract continued buying interest, even as selective volatility persists, especially in sectors influenced by external factors such as Commodities and Oil & Gas.
Market watchers also anticipate that year-end portfolio adjustments, macroeconomic news flows, and upcoming dividend declarations will shape trading dynamics. Investor activity is expected to tilt toward resilient, oversold, and value-driven stocks as traders position ahead of potential market-wide momentum shifts.
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