Investors’ Return in Nigerian’s Stock Market Up N4.6tn in One Week

Investors' average return on Nigeria's stock market surged by N4.6 trillion in one week, according to data from the Nigerian Exchange Limited. The benchmark indicator, the NGX ASI, rose 2.78 per cent to close at 249,804.56 points, driven by increased demand for selected major indices. The First Holdco Plc climbed by 17.7 per cent, Aradel Holdings Plc grew by 9.6 per cent, BUA Cement Plc increased by 6.8 per cent, MTN Nigerian Communications Plc rose by 3.1 per cent, and Zenith Bank Plc ascended by 2.4 per cent.

The market capitalisation expanded by N4.6 trillion to close the week at N162.157 trillion, up from N157.587 trillion. Sectors performed well, with Banking (+4.4 per cent), Insurance (+3.8 per cent), Oil & Gas (+3.7 per cent), Industrial Goods (+3.1 per cent), and Consumer Goods (+0.5 per cent) indices all closing higher. Market breadth remained strong, with 61 gainers versus 39 losers.

Sovereign Trust Insurance led the gainers with a 30.95 per cent increase, followed by Mutual Benefits Assurance at 22.03 per cent and Nigerian Exchange Group at 21.55 per cent. Decliners included Transcorp Power at 18.94 per cent, John Holt at 18.89 per cent, and Ellah Lakes at 18.14 per cent. A total of 3.249 billion shares valued at N237.986 billion exchanged hands this week, compared to the previous week's 3.647 billion shares valued at N130.151 billion.

Analysts attributed the market's positive performance to strong investor sentiment, heightened demand for specific stocks, and broad-based gains across all sectors. The primary catalyst for the week's advance was noted to be the Banking sector.