Investors pocketed about N4.08 trillion in one week as share prices continued to climb on the Nigerian Exchange (NGX), pushing the market’s main index (ASI) up by 3.84 per cent to close at 171,727.49 points.

Market capitalisation increased correspondingly to N110.23 trillion from N106.15 trillion recorded in the previous week, reflecting sustained buying interest across major sectors of the market. The latest performance lifted the year-to-date (YTD) return to 10.93 per cent.

Weekly trading data from the NGX showed that 3.860 billion shares valued at N128.58 billion were traded in 240,463 deals during the week. This is in contrast to 3.087 billion shares worth N81.51 billion exchanged in 222,185 deals in the preceding week. This represents about 25.08 per cent increase in volume and a 58.12 per cent rise in value, indicating stronger investor participation.

Analysts at Cowry Asset Management Limited in their weekly review stated, “In the near term, we expect the Nigerian equities market to maintain a positive bias, supported by sustained investor interest in fundamentally strong stocks and improving market breadth. Elevated trading activity and broad-based sectoral gains suggest that sentiment remains constructive, particularly in sectors benefiting from earnings releases and valuation-driven accumulation.”

Market breadth closed positive, with 71 equities appreciating in price, higher than 44 recorded in the previous week. Thirty-five equities declined, while 42 remained unchanged.

Sectoral performance was largely positive. The NGX Oil and Gas Index led the gainers, rising by 10.88 per cent week-on-week. The Commodities Index followed with a 6.30 per cent increase, while the Industrial Goods Index advanced by 4.36 per cent. The Banking Index gained 3.57 per cent, reflecting renewed buying interest in financial stocks. The Insurance Index was the only sector to close lower, declining by 2.33 per cent.

At the close of trading, individual stock performance showed that RT Briscoe Plc gained 60.69 per cent to close at N12.63 per share, followed by Zichis Agro Allied Industries Plc which rose by 60.38 per cent to N6.72 per share. Abbey Mortgage Bank Plc appreciated by 59.04 per cent to close at N14.95 per share, while Union Dicon Salt Plc advanced by 49.14 per cent to N13.05 per share. Austin Laz & Company Plc also recorded a gain of 38.46 per cent, closing at N5.40 per share.

On the downside, DEAP Capital Management & Trust Plc declined by 27.37 per cent to close at N6.82 per share. UH Real Estate Investment Trust fell by 26.99 per cent to N69.25 per share, while Red Star Express Plc dropped by 17.55 per cent to N17.15 per share. UPDC Real Estate Investment Trust and Cornerstone Insurance Plc shed 12.29 per cent and 12.24 per cent respectively.

The Financial Services Industry led activity in terms of volume, accounting for 2.188 billion shares valued at N50.46 billion in 94,005 deals. This contributed 56.68 per cent and 39.24 per cent to total equity turnover volume and value respectively. The Services Industry followed with 466.77 million shares worth N4.50 billion, while the ICT Industry recorded 377.80 million shares valued at N9.05 billion.

Trading in the top three equities by volume were Chams Holding Company Plc, Access Holdings Plc and Universal Insurance Plc, accounting for 664.94 million shares valued at N6.80 billion in 15,161 deals, representing 17.23 per cent of total volume traded during the week.

The NGX Premium Index rose by 6.80 per cent, while the NGX Pension Index gained 5.26 per cent. The NGX 30 Index increased by 3.83 per cent, and the NGX Consumer Goods Index advanced marginally by 1.01 per cent.

Cowry added that the sustained rally comes amid improved liquidity conditions in the broader financial system and increased portfolio repositioning ahead of corporate earnings releases, with investors concentrating on fundamentally resilient stocks across key sectors. (The Sun)

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