Market players added ₦583 billion in value this week, resulting in an All-Share Index that reached previously unheard-of heights on the Nigerian Exchange (NGX).
The start of consistent upward momentum on Monday’s trading session has bolstered investor confidence.
To conclude at a record high of 109,953.12, the benchmark index jumped 924.50 points, or a strong 0.85% increase. This milestone illustrates the tenacity of Nigeria’s capital market and indicates the growing optimism among market players.
The tendency of trading activity was the opposite of the positive price movements. The overall value of trades plummeted by 38.78%, and transaction volumes fell by 34.98%. Market data shows that 19,775 trades resulted in the exchange of 637.54 million shares valued at ₦11.09 billion.
Numerous well-known and mid-sized businesses propelled the market’s growth. ARADEL showed remarkable gains of 9.98%, making it the session’s top performer. LINKASSURE (+8.16%), ABCTRANS (+8.43%), CILEASING (+7.32%), and UPL (+9.86%) were among the other noteworthy performances.
Investors’ targeted purchases of fundamentally good businesses, particularly ARADEL, BUAFOODS, and other high-quality stocks, helped to sustain the surge. This chosen strategy made a substantial contribution to the growth in market capitalization overall.
Trading volumes were dominated by FIDELITYBK, which accounted for 11.36% of all equity transactions. Following with 9.02% was CUSTODIAN, while ACCESSCORP accounted for 8.73% of volume activity. The final two stocks in the top five most active by volume were GTCO and ZENITHBANK.
With 15.76% of the overall trade value, GTCO led in terms of value, indicating that despite sectoral performance being uneven, there is still interest in major banking stocks.
The market had a positive breadth at the end of the day, with 33 rising stocks and 29 falling issues. But not all equities took part in the rise; TRIPPLEG led the decliners with a -10.00% gain. VFDGROUP (-9.32%), MRS (-9.97%), and CUSTODIAN (-9.63%) were other noteworthy losses.
The five main indicators showed a varied picture of sectoral performance. Consumer goods saw a 2.20 percent increase, while the oil and gas industry saw a robust 3.02 percent boost. In contrast, the banking industry saw a 0.02% decline and the insurance industry saw a 1.06% decline. The industrial sector did not alter.
By increasing by ₦582.90 billion, the market capitalization as a whole surpassed ₦69 trillion, signifying a 0.85% gain. This performance indicates ongoing confidence in Nigeria’s economic prospects and reflects investors’ continued hunger for high-quality stocks.
Record-high index levels and selective buying trends point to a maturing market where investors are becoming less interested in speculative trading and more focused on underlying value. This pattern is encouraging for the long-term growth and stability of the market.
