Equities Edge Higher As Investors Reap N513bn In 3-day Trading

Despite a truncated trading week due to public holidays, the Nigerian equities market posted another week of positive performance as investors’ investments went up by N513 billion.

The market opened for three trading days last week as the federal government declared June 9 and June 12, 2025 as Public Holidays to commemorate 2025 Eid-el-Kabir and Democracy Day celebrations.

The benchmark NGX All-Share Index appreciated by 0.71 per cent week-on-week to close at 115,429.54 points. Similarly, the market capitalization rose by N513 billion to close the week at N 72.788 trillion. Notable market movers in the week include: BUA Foods, BUA Cement, Oando and MTN Nigeria Communications (MTNN).

Analysts said, the gain, though modest, was significant in the context of the subdued market activity, reflecting underlying bullish sentiment and investors’ continued preference for risk assets in anticipation of macroeconomic tailwinds.

The market breadth for the week was positive as 55 equities appreciated in price, 39 equities depreciated in price, while 54 equities remained unchanged. Legend Internet led the gainers table by 32.77 per cent to close at N7.09, per share. Berger Paints followed with a gain of 30.73 per cent to close at N26.80, while Ellah Lakes went up by 27.35 per cent to close to N4.33, per share.

On the other side, John Holt led the decliners table by 18.42 per cent to close at N6.20, per share. Industrial & Medical Gases Nigeria followed with a loss of 12.16 per cent to close at N32.50, while RT Briscoe declined by 10.00 per cent to close at N32.50, per share.

Overall, a total turnover of 2.057 billion shares worth N51.015 billion in 65,016 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 3.214 billion shares valued at N76.348 billion that exchanged hands prior week in 64,156 deals.

Looking ahead, Cowry Asset Management Limited said, “we expect the market to maintain a mildly bullish tone in the coming week.

Investor focus will be trained on the May 2025 inflation figures, which are anticipated to show a deceleration. A positive inflation surprise could strengthen investor appetite for equities while rendering fixed income assets less attractive in the near term.

“Nevertheless, we anticipate intermittent profit-taking as investors reassess risk-reward dynamics following recent price rallies. Given current valuations and relative macro stability, we maintain our recommendation for investors to continue to accumulate fundamentally strong stocks with a proven track record of earnings performance and dividend consistency.”

Afrinvest Limited also said, ‘this week, we expect the market to consolidate its gains, barring any external shocks.’