Nigeria’s stock market continued its strong performance last week, rewarding investors with a combined gain of N2.531 trillion as buying interest in major companies pushed share prices higher.
The Nigerian Exchange (NGX) maintained its upward trend, with the All-Share Index (ASI) rising by 1.60 per cent to close at 247,357.40 points. At the same time, the total value of listed companies on the Exchange increased to N159.588 trillion, reflecting renewed confidence among investors.
The rally was driven mainly by increased demand for shares of some of the market’s largest companies, including BUA Cement, First Holdco, Zenith Bank, and MTN Nigeria. Their strong performances helped lift the overall market and supported gains across several sectors.
Market sentiment remained positive throughout the week, as more stocks recorded gains than losses. A total of 57 companies ended the week with higher share prices, while 38 companies recorded declines. This positive market breadth suggests that buying activity was spread across different industries rather than being limited to a few stocks.
Among the week’s top performers, First Holdco stood out with an impressive 25.59 per cent increase in its share price, closing at N120.50 per share. Unilever Nigeria also delivered a strong performance, gaining 19.31 per cent to close at N147.95, while Cadbury Nigeria rose by 18.42 per cent to finish the week at N67.50 per share.
Not every company shared in the market’s gains. MeCure Industries recorded the biggest loss after its share price fell by 26.97 per cent to close at N62.40. Royal Exchange also declined by 12.84 per cent, ending the week at N1.29, while Tripple Gee and Company lost 12.34 per cent to settle at N3.41 per share.
Investor activity was significantly stronger than the previous week. A total of 4.433 billion shares worth N306.143 billion were traded in 255,589 deals, representing a notable increase compared to the previous week’s 2.819 billion shares valued at N182.499 billion across 226,729 deals.
The Financial Services sector remained the busiest segment of the market. It accounted for 3.422 billion shares valued at N207.206 billion, representing more than 77 per cent of the total trading volume and nearly 68 per cent of the market’s total value traded during the week.
The Consumer Goods sector ranked second, with 201.978 million shares worth N17.171 billion changing hands. The Information and Communications Technology (ICT) sector followed, recording trades of 169.481 million shares valued at N21.194 billion.
Three financial giants—First Holdco, Access Holdings, and Guaranty Trust Holding Company (GTCO)—were responsible for almost half of all shares traded during the week. Together, they accounted for 2.151 billion shares worth N170.793 billion, highlighting the strong investor interest in banking stocks.
Looking ahead, market analysts believe investors should remain selective despite the recent market rally. Analysts at Futureview Limited advised investors to continue focusing on fundamentally strong companies with healthy earnings potential, noting that quality stocks are more likely to deliver sustainable returns over the long term.
