Stock Market Sustains Positive Momentum, Advances by N1.66trn in Four Days

Kayode Tokede

The stock market section of the  Nigerian Exchange Limited (NGX) has sustained a positive momentum for the fourth consecutive day trading activities this week with the market capitalisation advancing by N1.66 trillion Week-till-Date (WtD) on investors’ demand for large capitalised stocks. 

The market capitalisation closed yesterday trading at N92.798 trillion, which is about N1.66 trillion or 1.82 per cent increase WtD from N91.135 trillion it opened for trading this week.

Consequently, the NGX All-Share closed yesterday at 146,204.34 basis points, representing an increase of 2,620.30basis points or 1.82 per cent WtD from  143,584.04 basis points it closed for trading last week.

This brings the NGX ASI Year-till-Date  (YtD) returns  to 42.05per cent.

Major large capitalised stocks driving the  stock market this week include Dangote Cement Plc, MTN Nigeria Communications Plc and Lafarge  Africa Plc.

Specifically, the stock price of Dangote Cement has appreciated by 2.8per cent WtD to close at N540 per share from N525.10 per share it opened for trading, while MTN Nigeria Communications grew by 10.8per cent in WtD  trading activities to close October 09, 2025 at N471.00 per share from  N425.00 per share it opened for trading this week.

Also, the stock price of Lafarge  Africa gained  2.49 per cent WtD to close October 09, 2025 at N129.65 per share from N126.50 per share the stock closed for trading last week.

In terms of sectoral performance, the NGX Insurance Index led the chart, gaining 5.05 per cent WtD to close at 1,273.98 basis points, followed by NGX Oil/Gas Index that appreciated by 3.05 per cent WtD to close at 2,663.95 basis points.                               

On investors demand for Dangote Cement, the NGX Industrial Index advanced by 1.35 per cent WtD to close at 5,146.16 basis points as the NGX Consumer Goods Index up by 0.8per cent WtD to close  3,428.60 basis points.

However, the NGX Banking Index has depreciated by 0. 33 per cent in its WtD performance, to close at 1,521.61 basis points as of October 09, 2025. 

On market’s performance this week, a group of analysts at Cowry Asset Management Limited maintained that the stock market is expected to be on a bullish momentum in the near term, driven by sustained investor appetite for fundamentally strong stocks and portfolio rebalancing ahead of Q3 2025 reporting and earnings season.

According to analysts, “Although intermittent profit-taking and fewer block trades could result in mixed activity, the robust year-to-date performance, broad-based sectoral gains, and rising retail participation continue to underpin market stability. Meanwhile, we continue to advise investors to position in stocks with strong fundamentals and earning power.”

Analysts at Afrinvest Limited anticipated the bourse sustaining its positive momentum as investors digest earnings results and rotate into stocks trading at compelling valuations.