Nigerian Stock Market Gains N1.5 Trillion as MTN, Breweries, and Dangote Sugar Lead Rally
The Nigerian stock market recorded a strong rebound last week, with investors gaining over N1.5 trillion as trading momentum picked up. After a period of weakness in November 2025, the market saw renewed optimism, driven by increased buying across major blue-chip and mid-tier companies.
Bargain hunting in MTN Nigeria sparked a remarkable 13% surge in its share price, leading the rally. Other top performers included Dangote Sugar, which rose 11.2%, Nigerian Breweries at 9.9%, Guinness at 10%, and Zenith Bank at 2.9%. These gains collectively lifted the NGX All-Share Index (ASI) by 1.6% week-on-week to 149,433.25 points from 149,040.08 points the previous week.
Market capitalization followed the upward trend, climbing to N95.264 trillion from N93.722 trillion, reflecting growing investor confidence. On a broader scale, the Month-to-Date (MtD) and Year-to-Date (YtD) returns also strengthened, standing at 4.1% and 45.2%, respectively, signaling a healthy recovery in market performance.
Sector performance was largely positive, with the Insurance sector up 3.4%, Consumer Goods rising 1.1%, Banking up 0.4%, and Industrial Goods gaining 0.2%. The Oil & Gas sector was the only laggard, declining marginally by 0.1%. Analysts noted that trading volume fell 33.9%, while trading value slightly increased by 1.9%, reflecting selective investor interest.
Looking ahead, market experts expect cautious optimism. Analysts at Cordros Capital forecast a choppy but generally positive trading week in the absence of major catalysts. Similarly, InvestData Consulting anticipates that consumer goods, telecoms, industrials, and insurance stocks will attract continued inflows, while the banking sector may face mild pressure due to profit-taking and regulatory uncertainty. External factors, like volatile crude oil prices, remain influential, but domestic liquidity and investor behavior are likely to shape the near-term market direction.
source: Vanguard