Last week brought a sharp turnaround for Nigeria’s equity market, with investors enjoying a gain of ₦2.436 trillion over five trading days.
The total value of shares listed on the Nigerian Exchange Limited (NGX) rose from ₦91.286 trillion the previous week to ₦93.722 trillion by Friday. Meanwhile, the NGX All-Share Index (ASI) jumped by 2.5 percent, closing at 147,040.08 points compared with 143,520.53 the week before.
Market commentators said the rebound was largely driven by investors repositioning ahead of year-end. They observed that December opened with caution as investors re-assessed price levels across various sectors, but by midweek buying interest had begun to firm, pushing the market back into positive territory.
Trading activity picked up significantly: over the week, 6.617 billion shares worth ₦113.224 billion changed hands across 109,590 deals. That compares with 4.140 billion shares valued at ₦115.889 billion traded in 102,351 deals the prior week.
By volume, the ICT sector led the trading activity with 3.500 billion shares worth ₦17.759 billion, representing 52.89% of total share volume and 15.68% of total value traded. ([Vanguard News][1]) The Financial Services sector followed with 2.625 billion shares valued at ₦50.188 billion traded in 42,574 deals.
Three top equities: E‑Tranzact International Plc, Cornerstone Insurance Plc, and Access Holdings Plc, together accounted for 4.871 billion shares worth ₦27.422 billion, forming 73.60% of total volume and 24.22% of total value traded.
Analysts at InvestData Consulting Limited commented: “Last week’s trading behaviour reflects an environment where investors particularly institutional players, are gradually repositioning for the final stretch of the year.” They added that instead of going after speculative swings, the focus appears to be on “stocks with stable fundamentals, improved liquidity, and favourable technical setups.” According to them, this measured flow of funds into equities helped the market hold steady even when some sectors faced selling pressure.
Looking at the larger economic context, the rebound in Nigeria’s stock market could signal growing investor confidence and may attract more capital inflows, a potential boost to liquidity and investment in the real economy just as 2026 positioning begins.
This rebound isn’t just about share prices rising, a stronger stock market can deepen capital markets, encourage investment, and draw both domestic and foreign capital into productive sectors. That inflow can help cushion economic headwinds, stimulate business expansion, and support broader growth as Nigeria heads into 2026.
