Earnings Releases To Drive Market Performance This Week

Capital market analysts have said that the Nigerian equities market is poised for a strong performance this week, driven by selective accumulation in large-cap stocks and anticipation of pending earnings releases and dividend announcements.

The local bourse extended its bullish run for another week, crossing the 200,000 psychological threshold and setting new records as investors maintained strong confidence heading into the holiday period.

This week, Afrinvest Limited stated that, “We expect the bullish performance to be sustained, driven by selective accumulation in large-cap stocks as investors position ahead of pending earnings releases (notably, banks full year 2025) and dividend announcements.”

Looking ahead, Cowry Assets Management Limited said, “The market may experience a short-term pullback, driven by profit-taking and sectoral rotation, especially as current levels suggest mildly overbought conditions.

“However, any correction is expected to be shallow, potentially offering attractive entry opportunities for investors targeting fundamentally strong stocks. Key support levels are seen around 200,000 and 198,500 points, while resistance lies within the 205,000–207,000 range. A sustained break above this band could pave the way for another upward leg in the rally.”

The local bourse closed the Eid Mubarak holiday shortened week on a positive note as the NGX All-Share Index advanced by 1.39 per cent week-on-week to close at 201,156.85 points, after touching a new high above 202,000 last week. Similarly, the market capitalisation advanced by N1.77 trillion to close at N129.126 trillion.

Market breadth remained strongly positive, with 70 gainers outweighing 34 decliners, reflecting broad-based investor participation. John Holt led the gainers’ table by 25.40 per cent to close at N11.85 per share. BUA Cement followed with a gain of 21.00 per cent to close at N326.70, while Premier Paints went up by 20.62 per cent to close at N23.40 per share.

On the other side, Zichis Agro Allied Industries led the decliners table by 50.58 per cent to close at N8.58 per share. Presco followed with a loss of 18.37 per cent to close at N1,701.10, while DAAR Communications declined by 13.55 per cent to close at N1.85 per share.

Overall, a total turnover of 8.761 billion shares worth ₦267.253 billion in 193,473 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 3.321 billion shares valued at N164.845 billion that exchanged hands the previous week in 318,907 deals.

The ICT Industry led the activity chart, with 5.330 billion shares valued at N46.825 billion traded in 21,573 deals, contributing 60.84 per cent to the total equity turnover volume and 17.52 per cent to the total equity turnover value.

The Financial Services Industry followed with 2.765 billion shares worth N95.892 billion in 75,103 deals, while the Consumer Goods Industry posted a turnover of 174.484 million shares worth N20.805 billion in 20,693 deals.

Trading in the top equities — E-Tranzact International, FCMB Group, and Wema Bank — accounted for 6.084 billion shares worth N40.661 billion in 5,570 deals, contributing 69.44 per cent and 15.21 per cent to the total equity turnover volume and value, respectively.