Equities market closes higher, gains N3.734bn as buying pressure boost trading activities

The Nigerian equities market recorded a growth trajectory last week , gaining N3.734 trillion as investors renewed buying interest across selected sectors.

The benchmark All-Share Index (ASI) rose by 2.36 per cent week-on-week (WoW) to close at 246,992.44 points from 241298.47 points in the preceding week while market capitalisation increased by approximately N3.734 trillion to N159.559 trillion from N155.825 trillion reported the previous week.

Consequently, the market’s year-to-date (YTD) return improved to 58.72 per cent

The positive performance for the week was largely driven by improved investor sentiment following confirmation of the FTSE Russell reclassification, alongside sustained buying pressure across selected counters.

The combination of broad-based gains, stronger trading activity, and renewed demand for equities supported the market’s continued upward trajectory during the week.

The market breath during the week remained positive, with 55 gainers against 35 losers. The positive breadth reflects improved investor sentiment, as advancing stocks significantly outnumbered declining counters during the week.

Trading activity also strengthened across the major market indicators, with the number of deals, trading volume, and transaction value increasing by 28.65 per cent, 73.91 per cent, and 70.69 per cent WoW, respectively.

In total, investors exchanged 4.36 billion shares, valued at N210.63 billion, across 223,718 trades against 2.507 billion shares worth N123.223 billion in 173.561 deals.

The Financial Services Industry led the activity chart in volume terms with 3.580 billion shares valued at N88.635 billion traded in 99,488 deals: thus contributing 82.10 per cent and 42.14 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 188.039 million shares worth N15.343 billion in 24,518 deals. Third place was the Services Industry, with a turnover of 142.292 million shares worth N2.020 billion in 14,007 deals.

Trading in the top three equities, namely Fortis Global Insurance Plc, United Bank for Africa Plc and Access Holdings Plc, accounted for 2.287 billion shares worth N35.232 billion in 20,975 deals, contributing 52.46 per cent and 16.75 per cent to the total equity turnover volume and value respectively.

An analysis of the transaction showed that sectoral performance was positive with four sectors closing higher, while Industrial Goods was the sole decliner.

The gains recorded in some stocks reflected improved investor sentiment and renewed buying interest across selected sectors , particularly in the Oil & Gas, Consumer Goods and Insurance sectors.

The Oil & Gas sector led the gainers, surging 9.10 per cent, driven by strong buying interest in Oando, Seplat and Aradel.