The Nigerian equities market closed the week on a bullish note, with the All-Share Index (ASI) advancing by 1,989.60 points to finish at 148,977.64, marking a 1.35% weekly increase.
Starting the week at 146,988.04, the benchmark index maintained an upward trajectory throughout the period, breaking key psychological levels of 147,000 and 148,000, largely buoyed by strong performances in heavyweight stocks such as Dangote Cement and Lafarge Africa.
Improved Market Activity
Investor participation strengthened significantly, as total trading volume rose to 2.4 billion shares, up from 2.2 billion recorded the previous week. The total value of transactions also climbed, pushing market capitalization to N94.5 trillion, compared to N93.2 trillion in the preceding week, across 126,591 deals.
Market sentiment remained positive with 52 equities appreciating in price, an increase from 51 in the previous week, while 41 stocks declined — the same number as the prior week. Meanwhile, 53 equities closed flat.
So far, the All-Share Index has delivered a 4.39% month-to-date gain and an impressive 44.74% year-to-date return, signaling sustained market momentum.
Market Performance Overview
The Nigerian Exchange (NGX) maintained its upward momentum for most of the trading week, closing four out of five sessions in the green.
- Monday: The market opened strong with a 729-point rally.
- Tuesday: The index experienced a marginal decline of 6.3 points.
- Wednesday: Gains were modest, with a 31-point increase.
- Thursday and Friday: The week ended firmly positive, with the ASI surpassing the 148,000-point threshold by Thursday.
Index Highlights
The NGX Premium Index appreciated by 1.65%, supported by advances in major constituents — Dangote Cement (+4.35%), Lafarge Africa (+4.27%), FBN Holdings (+1.29%), and MTN Nigeria (+0.72%).
Similarly, the NGX 30 Index gained 1.43%, while the NGX Main Board Index climbed 1.21%, underscoring broad-based market strength.
Sectoral Performance
Sector performance was mixed, with notable gains in industrial, insurance, and consumer goods sectors.
- Industrial Goods Index: Led the week’s rally with a 2.79% increase, driven by over 4% gains in Dangote Cement and Lafarge Africa, alongside a 0.63% rise in BUA Cement.
- Insurance Index: Added 2.56%, propelled by price gains in Sovereign Trust Insurance, Universal Insurance, and Prestige Assurance.
- Consumer Goods Index: Improved 1.93%, supported by a robust 7.41% surge in Vitafoam Nigeria Plc.
- Oil & Gas Index: Recorded a marginal 0.04% uptick.
- Banking Index: The only major laggard, dipping 0.13% for the week.
Top Gainers
Sovereign Trust Insurance Plc led the advancers, appreciating 11.21% week-on-week to close at N3.57. Royal Exchange Plc followed with an 11.11% gain to settle at N2.40.
Other strong performers included:
- Eunisell Interlinked Plc: +10.00% to N48.40
- SFS Real Estate Investment Trust: +9.88% to N418.75
- Omatek Ventures Plc: +9.49% to N1.50
- Transcorp Power Plc: +8.92% to N342.00
- Stanbic IBTC Holdings Plc: +8.26% to N118.00
- Universal Insurance Plc: +8.11% to N1.20
- Vitafoam Nigeria Plc: +7.41% to N87.00
- Prestige Assurance Plc: +6.51% to N1.80
Top Losers
On the losing end, Tripple Gee and Company Plc topped the decliners’ list, dropping 18.84% week-on-week to close at N4.91, followed by Academy Press Plc, which fell 17.92% to N7.88.
Other notable losers were:
- Regency Assurance Plc: -13.94% to N1.42
- LivingTrust Mortgage Bank Plc: -13.46% to N4.50
- Industrial & Medical Gases Nigeria Plc: -9.87% to N32.40
- Sunu Assurances Nigeria Plc: -9.01% to N5.25
- UACN Plc: -8.53% to N66.50
- Austin Laz & Company Plc: -7.94% to N2.90
- Ellah Lakes Plc: -7.20% to N13.40
- Chams Holding Company Plc: -6.98% to N4.00
Corporate Developments
The week featured multiple corporate announcements and financial disclosures:
- Transcorp Power Plc, Royal Exchange Plc, and Austin Laz & Company Plc released their Q3 2025 financial results.
- Geregu Power Plc appointed StructureHQ as its new Company Secretary.
- Okomu Oil Plc and Infinity Trust Mortgage Bank Plc also published their third-quarter financial statements.
- BUA Foods Plc informed shareholders of a possible delay in its Q3 filings, citing internal data migration challenges.
Market Outlook
The Nigerian stock market sustained its bullish momentum through the week, breaking significant barriers at the 147,000 and 148,000 mark, supported by strong gains in large-cap industrial stocks.
As more companies continue to publish their Q3 earnings reports, market analysts anticipate that positive earnings surprises could further enhance investor confidence and potentially drive the All-Share Index higher in the coming weeks.
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