Stock Market Advances by N1.10trn Week-on-Week on Broad-based Gains

Kayode Tokede

The Nigerian stock market ended last week on a strong positive note, extending its positive momentum by N1.10 trillion  as broad-based gains in key fundamentals  lifted overall performance.

The NGX All-Share Index (ASI) advanced by 1.03 per cent week-on-week to close at 244,775.83 points, while market capitalization rose by N1.10 trillion to close the week at N157.094 trillion.

Consequently, the year-to-date return strengthened further to 57.30 per cent, underscoring sustained investor confidence in the domestic bourse.

Market breadth remained positive with 79 advancers outpacing 27 decliners, indicating broad-based buying interest. CAP led the gainers table by 60.95 per cent to close at N233.70, per share. Zichis Agro Allied Industries followed with a gain of 53.17 per cent to close at N33.36, while FTN Cocoa Processors went up by 50.91 per cent to close to N8.30, per share.

On the other side, Nigerian Aviation Handling Company (NAHCO) led the decliners table by 20.95 per cent to close at N203.95, per share. Guinness Nigeria followed with a loss of 18.99 per cent to close at N402.60, while Access Holdings declined by 12.59 per cent to close at N23.60, per share.

Meanwhile, a total turnover of 7.075 billion shares worth N324.351 billion in 474,436 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 4.842 billion shares valued at N287.756 billion that exchanged hands last week in 332,453 deals.

The Financial Services Industry (measured by volume) led the activity chart with 4.260 billion shares valued at N131.483 billion traded in 179,609 deals, contributing 60.22 per cent and 40.54 per cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 769.239 million shares worth N45.315 billion in 61,820 deals, while the Investment Industry pulled a turnover of 544.809 million shares worth N5.776 billion in 2,243 deals.

Trading in the top equities, Access Holdings, VFD Group and CWG accounted for 1.589 billion shares worth N30.098 billion in 24,954 deals, contributing 22.46 per cent and 9.28 per cent to the total equity turnover volume and value respectively.

Meanwhile the gains on the Nigerian Exchange are expected to become more selective after a broad-based rally lifted industrial, banking, and consumer counters, supported by strong trading volumes.

Market analysts noted that future direction will hinge on key macro variables including inflation trends, interest rates, and foreign exchange stability as investors reassess positioning.

Cowry Asset Management Limited stated, “the Nigerian equities market maintained a strong bullish outlook, supported by sustained investor confidence, rising trading activity, and broad sectoral gains, particularly in industrial goods, banking, and consumer stocks.

“However, short-term volatility may persist due to profit-taking in recently rallying large-cap stocks and ongoing sector rotation. Overall, the market’s outlook remains positive, though gains are expected to become more selective, with future direction largely driven by macroeconomic conditions such as inflation, interest rates, and FX stability.”