Equities Market Closes Higher By N3.72trn

The Nigerian equities closed the week on a positive note as renewed buying interest pushed the market capitalisation higher by N3.72 trillion.

The NGX All-Share Index rose by 2.36 per cent week-on-week to close at 246,992.44 points, while market capitalisation gained approximately N3.72 trillion to settle at N159.54 trillion.

Market breadth remained positive, with 55 gainers against 35 losers, reflecting improved investor sentiment. Royal Exchange recorded the highest price gain of 25 per cent to close at N1.10, per share. Champion Breweries followed with a gain of 20.10 per cent to close at N11.95, while Nigerian Breweries rose by 18.80 per cent to close at N82.45, per share.

On the other hand, Beta Glass led the losers’ chart by 17.38 per cent to close at N465.00, per share. NASCOM Allied Industries followed with a decline of 15.90 per cent to close at N164.00, per share.

Meanwhile, a total turnover of 4.360 billion shares worth N210.331 billion in 223,284 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.507 billion shares valued at N123.223 billion that exchanged hands last week in 173,561 deals.

Cowry Assets Management Limited said, “the week’s positive performance 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.”

Looking ahead, the Firm stated that “we expect a cautiously bullish outlook for the Nigerian equities market, supported by renewed buying interest and positive investor sentiment following the confirmation of Nigeria’s FTSE Russell reclassification.

“However, given the market’s strong YTD performance, some profit-taking and short-term volatility may emerge. We expect investors to remain selective, with focus on fundamentally strong and liquid counters, particularly large- and mid-cap stocks.”