Shareholders gain N2.43tn as Industrial, Banking names rally

Shareholders across listed companies trading highs and lows in the Nigerian Exchange (NGX) gained N2.43 trillion as industrial and banking indices led others in the weekly rally.

The market regained stability after a prolonged period of decline, extending its bullish momentum for four trading sessions and recording significant gains. The NGX All-Share Index closed at 147,040.26 points, up 2.45% week-on-week, reflecting a renewed investor confidence following weeks of intensified profit-taking. Stockbrokers said the positive sentiment lifted total market capitalisation by 2.67% to N93.72 trillion from N91.2 trillion the previous week, adding N2.43 trillion in value. The rally lifted the Nigerian Exchange year-to-date return to 42.86%, significantly ahead of 16.05% headline inflation rate.

Trading records indicated that market sentiment stayed moderately positive, with market breadth at 1.10x as 42 stocks advanced while 38 declined. Stockbrokers reported that trading activity showed notable improvement, as total deals increased by 7.26% and trading volume surged 60.26%, though the total traded value dipped slightly by 2.03%.

By the close of the week, investors exchanged 6.62 billion shares valued at N113 billion across 109,680 deals, reflecting a highly active yet selective market environment, Cowry Asset Limited said in its report. NGX sectoral performance reflected the overall positive mood. Industrial stocks emerged as key outperformers, surging 7.38% on renewed interest. Banking stocks followed with a 3.20% gain, while the Consumer Goods sector rose 1.56%.

The Insurance sector also advanced 1.48%. In contrast, the Oil & Gas sector slipped 0.57%, with pressure affecting both upstream and downstream companies, and the Commodity sector eased 0.30% week-on-week. Several stocks delivered standout performances. NCR led with a remarkable 33.0% gain, followed by GUINNESS (+18.6%), CHAMPION (+11.6%), UACN (+11.5%), and SUNUASSUR (+11.0%), driven by strong accumulation.

Conversely, the weakest performers reflected sustained selling pressure, including RTBRISCOE (-12.8%), LEGENDINT (-10.7%), EUNISELL (-10.0%), TRANSCOHOT (-9.9%), and LIVINGTRUST (-9.8%). Looking ahead to the coming week, investment firm Cowry Asset Limited revealed the expectation that the Nigerian equities market will maintain a cautious yet cautiously optimistic tone in the near term.

Momentum may continue in fundamentally strong and actively accumulated stocks, while selective volatility persists in sectors facing external pressures, such as Oil & Gas and Commodities. Year-end profit-taking, macroeconomic developments, and upcoming dividends are likely to influence activity. Investors are expected to focus on high-quality, resilient, and oversold stocks, seeking potential entry points before broader market momentum shifts.