The Nigerian equities market bounced back last week, posting a N614 billion gain in market capitalisation as investor sentiment strengthened across several sectors. The Nigerian Exchange All-Share Index (NGX ASI) rose by 0.90%, closing at 109,710.37 basis points, while the market capitalisation settled at N68.953 trillion.
This marked a significant turnaround from the prior week’s bearish mood, driven largely by renewed interest in blue-chip stocks and fundamentally sound companies, which helped lift market confidence.
Weekly Market Summary
According to NGX data, a total of 2.606 billion shares worth N63.785 billion were traded across 77,593 deals a slight decline compared to the 2.645 billion shares valued at N77.005 billion exchanged in 86,110 deals the previous week.
- Financial Services led the activity chart, accounting for 1.540 billion shares worth N28.963 billion across 32,805 deals, contributing 59.08% of total volume and 45.41% of total value.
- The Services sector followed with 286.83 million shares worth N1.71 billion, while Consumer Goods ranked third, trading 202.56 million shares valued at N7.44 billion.
Top Traded Stocks
The most active stocks by volume were:
- FCMB Group Plc
- Access Holdings Plc
- Tantalizer Plc
Combined, these three accounted for 600.68 million shares worth N6.57 billion in 7,201 deals, representing 23.05% of total volume and 10.30% of total value.
Market Breadth & Price Movement
Despite the overall gain, market breadth was mixed:
- 61 stocks gained, down from 68 the previous week.
- 31 stocks declined, higher than 28 recorded earlier.
- 56 stocks remained unchanged, up from 52.
Top Gainers:
- Beta Glass Plc: +46.31% (₦160.65 → ₦235.05)
- Champion Breweries Plc: +42.08% (₦4.80 → ₦6.82)
- Caverton Offshore Support Group Plc: +37.70%
- FTN Cocoa Processors Plc: +36.32%
- Northern Nigeria Flour Mills Plc: +32.49%
Top Losers:
- Multiverse Mining & Exploration Plc: -19.50% (₦10.00 → ₦8.05)
- Union Dicon Salt Plc: -11.83%
- Nigerian Aviation Handling Company Plc: -9.64%
- University Press Plc: -8.90%
- Legend Internet Plc: -6.67%
Fixed Income and ETF Performance
The fixed income segment saw a jump in activity:
- 138,668 units worth ₦26.703 million were traded in 148 deals, up from 26,367 units valued at ₦6.753 million the previous week.
However, activity in the Exchange-Traded Products (ETP) segment dipped:
- 121,749 units valued at ₦118.695 million were traded in 56 deals, lower than the 169,476 units worth ₦175.3 million in 30 deals the week prior.
Additionally, the Exchange listed the April 2025 Federal Government Savings Bonds, alongside supplementary units of existing bonds, enhancing confidence in the fixed income market.
Mid-Week Surge: N257bn Added in One Day
Highlighting the week’s bullish trend, the market gained ₦257 billion in capitalisation on Thursday alone, fueled by investor appetite for consumer and industrial goods stocks. Nestle Nigeria, Honeywell Flour Mills, and Beta Glass were notable drivers of this surge.
