NGX Weekly Review: Investors Pocket ₦1.54trn as Market Extends Rally
The Nigerian Exchange (NGX) closed the week on a strong footing, delivering a ₦1.54 trillion gain for investors as broad market sentiment remained positive despite mixed sectoral performances.
The NGX All-Share Index (ASI) advanced by 1.63% to close at 149,433.26 points, while total market capitalisation rose 1.64% to ₦95.264 trillion, up from ₦93.722 trillion recorded in the preceding week.
The rally translated into a weekly wealth accretion of ₦1.542 trillion, reinforcing the Exchange’s bullish momentum as investors selectively repositioned across key counters.
Sector Performance: Broad Gains, Selective Pullbacks
Most sectoral indices closed higher, reflecting sustained interest in equities. However, seven indices finished in negative territory, underscoring cautious rotation by investors:
- NGX Banking Index: -0.12%
- NGX AFR Dividend Yield Index: -0.75%
- NGX MERI Growth Index: -1.07%
- NGX MERI Value Index: -0.27%
- NGX Oil & Gas Index: -0.13%
- NGX Sovereign Bond Index: -2.02%
- NGX Commodity Index: -0.49%
Market Activity: Volumes Ease, Value Moderates
Trading activity softened during the week as investors traded 4.37 billion shares valued at ₦97.78 billion across 110,736 deals, compared with 6.62 billion shares worth ₦113.22 billion exchanged in the prior week.
The Financial Services sector dominated activity, accounting for:
- 2.25 billion shares worth ₦47.20 billion
- 51.49% of total market volume
- 48.27% of total market value
The ICT sector followed with 1.12 billion shares valued at ₦13.15 billion, while the Oil & Gas sector ranked third, recording 233.89 million shares worth ₦4.73 billion.
Top Traded Equities
Trading in E-Tranzact International Plc, Access Holdings Plc, and FCMB Group Plc dominated the week, accounting for:
- 1.92 billion shares
- ₦22.22 billion in value
- 43.93% of total volume
- 22.72% of total value
Gainers vs. Losers
Market breadth moderated slightly:
- 49 equities advanced, down from 55
- 41 equities declined, up from 29
- 57 equities closed flat, compared with 63 previously
Top Gainers:
- Morison Industries Plc (+₦1.15)
- Mecure Industries Plc (+₦8.15)
- Japaul Gold & Ventures (+56k)
- Sovereign Trust Insurance (+50k)
- PZ Cussons Nigeria (+₦6.55)
Top Losers:
- Eterna Plc (-₦5.30)
- UACN Plc (-₦13.80)
- E-Tranzact International Plc (-₦1.40)
- Transcorp Hotels Plc (-₦17.20)
- Chellarams Plc (-₦1.45)
Fixed-Income Market Update
In the fixed-income segment, the Exchange listed an additional 140.1 million units of Chapel Hill Denham Management Limited’s Nigeria Infrastructure Debt Fund at ₦109.50 per unit, under its ₦200 billion issuance programme.
Following the listing, total outstanding units of the Fund on the NGX rose to 1.196 billion units, strengthening long-term infrastructure financing options for institutional investors.
BRANDECONOMY Insight
The week’s performance reflects selective optimism rather than indiscriminate buying. While headline gains remain impressive, sectoral divergences—especially in banking, oil & gas, and sovereign bonds—suggest investors are increasingly pricing fundamentals, earnings clarity, and policy signals, not just momentum. The coming weeks may test whether the rally broadens sustainably or narrows into defensive positioning.
