The reign of the bulls continued unabated on the equities sector of the Nigerian Exchange Limited (NGX) as investors gained N8.14 trillion in one week, even amid heightened trading activity across sectors.
The all-share index advanced 6.95 per cent week-on-week, closing at 194,989.77 points, while total market capitalisation rose in tandem to N125.16 trillion from N117.03 trillion the previous week.
The year-to-date returns strengthened further to 25.95 per cent, reflecting sustained optimism in the domestic equities space.
Maraket breadth remained firmly positive, with 71 gainers against 41 decliners, indicating a wider-based buying momentum. Trading activity surged, with the number of deals, volume and turnover increasing by 20.14 per cent, 64.44 per cent, and 30.14 per cent respectively. Investors exchanged 7.65 billion shares valued at N251.87 billion across 344,997 deals, highlighting heightened participation and liquidity.
Sector performance mirrored the broader market optimism. The industrial goods sector led with a 10.1 per cent gain, boosted by notable price appreciation in Betaglas and WAPCO. The oil and gas index rose by 8.66 per cent, driven by accumulation in Japaul Gold, Aradel and Seplat, while the consumer goods climbed 7.04 per cent, supported by bargain-hunting in NASCON, Nestle and MCNICHOLS.
The banking sector gained 5.68 per cent, buoyed by FirstHoldco and Stanbic and insurance advanced 4.73 per cent, lifted by sustained demand for FTGINSURE, Custodian, Mutual Benefit and Lasaco.
On the price movement chart, Zichis topped the gainers with a 60.7 per cent surge, followed closely by Japaul Gold with a 60.2 per cent rise, Infinity up 59.1 per cent, FTGINSURE advancing 53.8 per cent and JaizBank gaining 32.5 per cent.
On the downside, RT Briscoe fell 20.8 per cent, Mecure declined 19 per cent, Trippleg dropped 18.8 per cent, Sovereign Trust lost 17.1 per cent and Ella Lakes slipped 14.7 per cent, reflecting ongoing profit-taking pressures.
Analysts at Cowry Asset Management Limited said market sentiment is expected to remain broadly positive in the coming week, supported by strong investor confidence. Intermittent profit-taking could trigger mild pullbacks, with investors likely becoming more selective and focusing on fundamentally sound counters.
In the currency market, the naira firmed against the dollar, appreciating 0.68 per cent at the official window to close at N1,346.32/$.
External buffers also improved, with Nigeria’s foreign reserves rising 2.04 per cent to $48.5 billion, reflecting steadier forex inflows and market confidence.
