October 26, (THEWILL) — The Nigerian equities market closed the week on a bullish note, maintaining its upward trajectory as investors rotated funds into fundamentally sound stocks. The All-Share Index (ASI) advanced by 4.48 percent, rising from 148,977.64 points to 155,645.05 points, while the market capitalization increased to ₦98.793 trillion, reflecting strong buying momentum across key sectors.
Market Activity:
A total turnover of 3.695 billion shares worth ₦129.889 billion was traded in 148,077 deals, higher than 2.422 billion shares valued at ₦76.618 billion in the previous week.
The Financial Services Industry led activity with 2.362 billion shares valued at ₦54.380 billion in 63,561 deals, contributing 63.91 percent and 41.87 percent to total equity turnover volume and value respectively. The Oil and Gas Industry followed with 551.517 million shares worth ₦19.208 billion in 10,539 deals, while the Consumer Goods Industry ranked third with 180.904 million shares worth ₦13.276 billion.
Market Breadth
The week’s sentiment was mixed but leaned positive, with 44 gainers against 49 decliners, while 53 equities remained unchanged — the same as the prior week.
Top Five Gainers:
- ASO Savings and Loans Plc (ASOSAVINGS) appreciated by 32.00 percent (₦0.50 to ₦0.66).
- Aradel Holdings Plc (ARADEL) gained 25.20 percent (₦631.00 to ₦790.00).
- Eunisell Interlinked Plc (EUNISELL) advanced by 19.73 percent (₦48.40 to ₦57.95).
- PZ Cussons Nigeria Plc (PZ) rose 14.19 percent (₦39.10 to ₦44.65).
- NASCON Allied Industries Plc (NASCON) added 12.77 percent (₦101.00 to ₦113.90).
Top Five Losers:
- LivingTrust Mortgage Bank Plc (LIVINGTRUST) declined by 10.89 percent (₦4.50 to ₦4.01).
- Juli Plc (JULI) lost 9.94 percent (₦8.95 to ₦8.06).
- R.T. Briscoe Plc (RTBRISCOE) shed 9.84 percent (₦3.66 to ₦3.30).
- John Holt Plc (JOHNHOLT) dipped 9.72 percent (₦7.20 to ₦6.50).
- Multiverse Mining and Exploration Plc (MULTIVERSE) fell 9.71 percent (₦13.90 to ₦12.55).
Sectoral Performance:
Most sector indices closed positive, led by industrial goods, consumer, and oil & gas counters. However, the Banking, Insurance, AFR Bank Value, AFR Dividend Yield, MERI Value, and Sovereign Bond indices recorded mild losses, dropping 1.35 percent, 1.10 percent, 1.89 percent, 1.12 percent, 0.03 percent, and 0.18 percent respectively.
Fixed Income Market:
A total of 336,046 bond units valued at ₦282.928 million were traded this week in 24 deals, compared to 448,601 units worth ₦381.846 million across 46 deals the previous week, showing lower participation in the debt market.
Investor Sentiment and Market Outlook:
Investor sentiment remained largely upbeat throughout the week, buoyed by positive third-quarter earnings, steady foreign exchange stabilization, and renewed confidence in the macroeconomic outlook. However, mild profit-taking in select banking and insurance stocks toward week’s end reflected cautious positioning by investors.
Looking ahead, analysts expect the market to sustain its positive momentum into next week, driven by dividend expectations, robust sectoral performance in oil & gas and consumer goods, and stable liquidity levels. Nonetheless, investors are likely to stay selective, focusing on companies with strong fundamentals and consistent earnings growth.
Ogochukwu Onwaeze
