The Nigerian equities market closed the trading week on a positive note, with the NGX All-Share Index appreciating by 1.57 per cent to settle at 119,995.76 points, while the market capitalization advanced by ₦1.43tn or 1.92 per cent to close at ₦75.962tn, reflecting improved investor sentiment and sustained demand for blue-chip stocks.
According to the Nigerian Exchange Limited (NGX), investors traded a total of 3.903 billion shares worth ₦102.221bn in 114,484 deals, marking an increase in volume but a slight decline in value when compared to the previous week’s 3.566 billion shares valued at ₦115.40bn exchanged in 99,960 deals.
All sectoral indices ended the week in the green, with the exception of the NGX Oil and Gas Index, which shed 2.23 per cent, reflecting weak performance in the energy segment.
The Financial Services Industry maintained dominance on the activity chart, both in volume and value terms, accounting for 2.030 billion shares valued at ₦41.93bn across 42,959 deals.
This represents 52.02 per cent of the total volume and 41.02 per cent of the market’s total value.
The Services Industry followed with a turnover of 396.590 million shares worth ₦4.596bn traded in 8,105 deals, while the Agriculture Industry came in third with 385.704 million shares worth ₦14.47bn exchanged in 10,515 deals.
Three stocks — Fidelity Bank Plc, Access Holdings Plc, and Zenith Bank Plc — emerged as the most traded equities by volume. Together, they accounted for 864.681 million shares valued at ₦25.96bn in 15,136 deals, representing 22.16 per cent of total volume and 25.39 per cent of the market’s total value for the week.
Investor sentiment was broadly bullish, as 78 equities recorded price gains, significantly higher than the 55 gainers posted in the previous week. Meanwhile, 27 stocks declined, down from 42 in the prior week, and 43 equities closed flat, slightly lower than the 51 that remained unchanged previously.
The positive momentum in the market was attributed to improved investor confidence, strong corporate earnings, and portfolio repositioning ahead of the second half of the year. Analysts suggest that sustained domestic participation and attractive valuations in key sectors such as banking and agriculture contributed to the market’s resilience.
With strong performance in the financial and agriculture sectors and an increasing number of advancing stocks, market watchers expect the bullish sentiment to continue, barring any macroeconomic shocks or profit-taking activities. However, weakness in the oil and gas sector may continue to weigh on overall performance if sector-specific fundamentals remain soft.