February 08, (THEWILL) — The Nigerian equities market recorded a robust performance last week, with trading activities rising significantly compared to the previous week. A total turnover of 3.860 billion shares worth N128.581 billion was traded by investors on the floor of the Exchange, representing a notable increase from the 3.087 billion shares valued at N81.505 billion recorded in the preceding week. The improved turnover reflected renewed investor participation and stronger market momentum across several sectors.
The Financial Services Industry dominated market activity in terms of volume, as investors traded 2.188 billion shares valued at N50.459 billion. This accounted for 56.68 percent of the total equity turnover volume and 39.24 percent of the total value traded for the week, underscoring the sector’s continued leadership in market liquidity.
Following closely was the Services Industry, which recorded a turnover of 466.771 million shares worth N4.495 billion. The ICT Industry ranked third with 377.800 million shares exchanged, valued at N9.049 billion, reflecting sustained interest in technology-related stocks.
Trading activities were also concentrated in a few highly traded equities. The top three equities by volume Chams Holding Company Plc, Access Holdings Plc, and Universal Insurance Plc collectively accounted for 664.942 million shares worth N6.801 billion. This represented 17.23 percent of the total equity turnover volume and 5.29 percent of the total value traded during the week.
Market performance indicators closed firmly in positive territory. The NGX All-Share Index appreciated by 3.84 percent to close the week at 171,727.49, while Market Capitalization rose to N110.235 trillion, reflecting broad market gains and improving investor sentiment.
Most sectoral indices finished higher for the week, highlighting widespread buying interest across the market. The only exception was the NGX Insurance Index, which declined by 2.33 percent, indicating continued weakness in select insurance stocks despite the overall bullish market tone.
Market breadth improved significantly, further confirming the positive momentum recorded during the week. A total of seventy-one equities appreciated in price, higher than the forty-four equities recorded in the previous week. Meanwhile, thirty-five equities depreciated in price, lower than the forty-nine recorded last week, while forty-two equities closed unchanged, compared with fifty-five in the preceding week.
Leading the gainers’ chart for the week were the following stocks:
R T BRISCOE PLC advanced 60.69 percent (moving from N7.86 to N12.63).
ZICHIS AGRO ALLIED INDUSTRIES PLC rose by 60.38 percent (opening at N4.19 and rising to N6.72 at the close of day).
ABBEY MORTGAGE BANK PLC gained 59.04 percent (N9.40 to N14.95).
UNION DICON SALT PLC appreciated by 49.14 percent (N8.75 to N13.05).
AUSTIN LAZ & COMPANY PLC appreciated by 38.46 percent (N3.90 and closed at N5.40).
On the downside, some stocks recorded notable declines during the week. The top laggards included:
DEAP CAPITAL MANAGEMENT & TRUST PLC declined by -27.37 percent (N9.39 to N6.82).
UH REAL ESTATE INVESTMENT TRUST lost -26.99 percent (from N94.85 to N69.25).
RED STAR EXPRESS PLC fell by -17.55 percent (N20.80 to N17.15).
UPDC REAL ESTATE INVESTMENT TRUST depreciated by -12.29 percent (N8.95 to N7.85).
CORNERSTONE INSURANCE PLC dropped by -12.24 percent (N6.21 to N5.45).
In the fixed income segment, the bonds market recorded a sharp increase in trading activity. A total of 449,548 units valued at N476.435 million were traded in 58 deals this week, compared with 91,005 units valued at N90.685 million transacted in the previous week. The surge in bond transactions suggests growing investor interest in fixed income instruments alongside the bullish equities market.
Overall, the market closed the week on a strong footing, driven by higher turnover, broad-based gains across most sectors, and improved market breadth. The rally in the NGX All-Share Index and Market Capitalization points to renewed confidence among investors, supported by increased participation in both equity and bond segments.
Analysts note that if the current momentum is sustained, the market could continue to trend upward in the near term, although profit-taking may emerge in highly appreciated stocks. Attention is expected to remain on actively traded financial services stocks, alongside select growth and consumer-related counters, as investors position for further opportunities in the coming weeks.
