The Nigerian equities market ended the week with a notable gain, as investors earned N426.69 billion due to increased trading activity and renewed optimism. The NGX All-Share Index rose by 0.72% to close at 98,210.75 points, pushing the market capitalization to N59.53 trillion. This recovery helped to reduce the market’s quarter-to-date losses to 0.35%, while maintaining a strong year-to-date return of 31.30%. Positive sector performances, particularly in insurance and oil/gas, contributed to the upward trend.
Sector performance was mostly positive, with the NGX Insurance Index rising by 8.45% and the NGX Oil/Gas Index increasing by 4.84%. Other indices like NGX Industrial Goods, Banking, and Consumer Goods also showed gains, though the NGX Main Board and NGX Growth Indices saw slight declines. Trading activity surged, with a 21.9% increase in the volume of shares traded, reaching 3.89 billion units valued at N87.75 billion. The Financial Services sector dominated the activity chart, contributing nearly 70% of the total volume.
Among the top gainers, Golden Guinea Breweries Plc saw a 46% rise, followed by SUNU Assurances Nigeria Plc and Lafarge Africa Plc with 30% and 28% increases, respectively. On the downside, Learn Africa Plc led the losers, dropping by 12%, while other stocks like Aradel Holdings and E-Tranzact International also recorded declines. Analysts forecast a continuation of the market’s positive momentum, driven by investor reactions to corporate and economic developments, despite the ongoing market volatility.