The Nigerian stock market ended last week on a positive note, with the NGX All-Share Index (ASI) gaining 0.11% to close at 97,829.02 basis points. The market capitalization added ₦77 billion, buoyed by the listing of 3.12 billion shares of Haldane McCall. Broad-based gains were observed across sectoral indices except for banking, which declined by 2.57%. The NGX Insurance Index led with a 4.54% increase, followed by consumer goods and industrial goods indices with 1.93% and 1.75% gains, respectively. Investor sentiment leaned optimistic as 52 equities advanced, while 33 depreciated, with Eunisell Interlinked and Tantalizers leading the gainers’ chart.
Trading activities saw a turnover of 1.95 billion shares worth ₦35.86 billion across 48,553 deals. The financial services sector dominated trading volumes, contributing 53.34% of the total shares exchanged. Top equities like Japaul Gold, FBN Holdings, and Access Holdings accounted for 23.64% of total trade volume. Meanwhile, analysts project mixed trading as investors await the Central Bank of Nigeria’s Monetary Policy Committee (MPC) decisions, which are expected to influence interest rate policies and market direction.
Looking ahead, market experts anticipate a cautious stance as the year-end approaches. Factors like the proposed ₦47.9 trillion 2025 budget and the MPC’s likely hawkish tilt may drive investor sentiment. While profit-taking may temper market momentum, analysts advise positioning in resilient, fundamentally strong stocks. The upcoming December trading season and potential fund manager activity present opportunities for discerning investors to navigate the macroeconomic landscape effectively.
