Stock of the WEeek
The Nigerian Exchange (NGX) closed the week on a strong positive note, driven by broad-based buying interest and heavier trading activity across key sectors.
Market Performance Overview
A total turnover of 6.617 billion shares worth N113.224 billion was traded this week, up significantly from 4.140 billion shares valued at N115.889 billion recorded last week. The NGX All-Share Index and Market Capitalization appreciated by 2.45 percent and 2.67 percent, closing at 147,040.08 points and N93.722 trillion, respectively.
All other indices closed higher except the NGX Oil and Gas Index and NGX Commodity Index, which fell by 0.57 percent and 0.30 percent, respectively.
Sectoral Activity
ICT Industry – Leading the Market
• Volume: 3.500 billion shares
• Value: N17.759 billion
• Contribution: 52.89% (volume), 15.68% (value)
Financial Services Industry – Sustained Liquidity
• Volume: 2.625 billion shares
• Value: N50.188 billion
Services Industry
• Volume: 104.524 million shares
• Value: N1.166 billion
• Deals: 7,255
Top Traded Equities
The top three equities by volume — E-Tranzact International Plc, Cornerstone Insurance Plc, and Access Holdings Plc accounted for:
• 4.871 billion shares
• N27.422 billion
• 6,438 deals
• Contribution: 73.60% (volume), 24.22% (value)
Market Breadth
Market sentiment strengthened broadly:
- 55 gainers (previous week: 38)
- 29 losers (previous week: 36)
- 63 unchanged (previous week: 73). This reflects a clear upside momentum and renewed risk appetite.
Top Five Gainers
1. NCR Nigeria Plc – 33.03 percent (N54.65 → N72.70)
2. UACN Plc – 22.69 percent (N78.90 → N96.80)
3. Guinness Nigeria Plc – 18.56 percent (N167.00 → N198.00)
4. Dangote Cement Plc – 15.02 percent (N534.60 → N614.90)
5. Nigerian Breweries Plc – 12.36 percent (N66.75 → N75.00)
Top Five Losers
1. R.T. Briscoe Plc – -12.79 percent (N3.44 → N3.00)
2. Legend Internet Plc – -10.71 percent (N5.60 → N5.00)
3. Union Dicon Salt Plc – -10.00 percent (N7.00 → N6.30)
4. Associated Bus Company Plc – -9.88 percent (N3.44 → N3.10)
5. Cornerstone Insurance Plc – -8.33 percent (N6.00 → N5.50)
Fixed Income Market
Trading activity in the bonds market improved considerably:
• 410,186 units valued at N443.071 million
• Across 54 deals
• Compared with 117,523 units valued at N120.742 million in 38 deals last week
Outlook for Coming Week
The outlook for the market remains cautiously optimistic, supported by:
1. Strong Momentum from Large-Cap Stocks
Gains in Dangote Cement, Nigerian Breweries, and UACN indicate sustained institutional interest, which may continue to support the broader index.
2. Increased Liquidity and Participation
The sharp rise in turnover — especially from ICT and Financial Services — suggests investors are repositioning ahead of year-end, a trend that may persist.
3. Improving Market Breadth
More gainers than losers for a second consecutive week signals growing bullish sentiment and wider participation across sectors.
4. Sector Watch
- Banking and Consumer Goods are expected to maintain strength.
- Oil and Gas may remain pressured following this week’s decline in its sector index.
- ICT stocks could continue to dominate volume as speculative and institutional players stay active.
Overall, the market is likely to extend its positive trend in the near term, barring unexpected macroeconomic shocks or profit-taking in heavyweight counters.
Ogochukwu Onwaeze
