NGX Surges 4.48%, Adds N4.32 Trillion in Weekly Gains Amid Renewed Investor Optimism

Investors sent the Nigerian Exchange Limited (NGX) soaring this week, driving a 4.48% rise in the market and adding a remarkable N4.32 trillion to its overall value. Market capitalization closed at N98.793 trillion, while the All-Share Index settled at 155,645.05 points, reflecting renewed confidence among traders and heightened activity across major sectors. Analysts say the gains mark the strongest weekly performance in recent months.

Trading activity surged significantly, with 3.695 billion shares worth N129.889 billion exchanged in 148,077 deals, compared with 2.422 billion shares valued at N76.618 billion in the previous week. The Financial Services Industry dominated, accounting for nearly 64% of total turnover volume, followed by Oil & Gas and Consumer Goods sectors. Fidelity Bank Plc, Japaul Gold & Ventures Plc, and Access Holdings Plc drove most of the week’s trades, collectively representing 49% of total volume and over 21% of market value.

Daily trading momentum remained consistent, with Monday seeing 415 million shares exchanged, rising steadily to a peak of 1.21 billion shares on Friday. This strong weekly activity indicates a growing appetite for equities, particularly in financial and energy stocks. Meanwhile, the exchange-traded products segment showed mixed results, with fluctuating volumes and values across various products.

Despite the broad rally, some indices—including Banking, Insurance, AFR Bank Value, and NGX Sovereign Bond—recorded declines ranging from 0.03% to 1.89%. However, the overall bullish sentiment was reinforced as 44 equities appreciated and key corporate actions, such as the lifting of Aso Savings & Loans Plc’s trading suspension and the activation of VFD Group Plc’s Rights Issue, boosted investor confidence.

Market experts attribute the N4.32 trillion gain to renewed foreign inflows, strong earnings reports from tier-one banks, and an improved macroeconomic outlook. With NGX sustaining upward momentum and high-profile corporate developments reinforcing market trust, stakeholders anticipate the bullish trend to continue into the coming weeks, signaling a positive period for Nigerian investors.

source: punch