After N4.23trn Equities Gain, Analysts Predict Further Upswing This Week

Capital market analysts have predicted a strong closing for the Nigerian stock market this week, driven by ongoing economic reforms, improved investor sentiment, and positive earnings momentum.

The market rally was fueled by renewed buying interest in mid- and large-cap blue-chip stocks as well as strategic sectoral reallocation by investors on the back of strong fundamentals. This was further propelled by the flurry of impressive nine-month earnings scorecards published by corporates to rouse positive sentiments across counters.

On market outlook for this week, analysts at Cowry Assets Management Limited said, “We expect the market to trade on a positive note as investors react to the ongoing release of Q3 2025 corporate earnings and dividend declarations. Strong results from bellwether companies and improved liquidity conditions are likely to sustain buying interest across major sectors as fundamentals improve.

“However, bouts of profit-taking and portfolio rebalancing may introduce slight volatility, particularly in the banking space as investors rebalance their portfolios in line with current reality and expectations. However, we continue to advise investors to take positions in stocks with strong fundamentals and earnings growth.”

Meanwhile, the benchmark NGX All-Share Index (ASI) last week, reached a new 52-week high at 155,645.05 points, up 4.48 per cent week-on-week. Similarly, market capitalisation rose by N4.23 trillion to close the week at N98.793 trillion, bringing the year-to-date return to 51.22 per cent.

Despite the overall positive sentiment, market breadth closed negative with 44 gainers against 49 losers. Aso Savings and Loans led the gainers table by 32.00 per cent to close at 66 kobo, per share. Aradel Holdings followed with a gain of 25.20 per cent to close at N790.00, while Eunisell Interlinked went up by 19.73 per cent to close to N57.95, per share.

On the other side, Livingtrust Mortgage Bank led the decliners table by 10.89 per cent to close at N4.01, per share. Juli followed with a loss of 9.94 per cent to close at N8.06, while R T Briscoe declined by 9.84 per cent to close at N3.30, per share.

Overall, a total turnover of 3.695 billion shares worth N129.889 billion in 148,077 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 2.422 billion shares valued at N76.618 billion that exchanged hands previous week in 126,591 deals.