This week’s performance on the Nigerian Exchange (NGX) was impressive, as market participants contributed ₦583 billion in value, sending the All-Share Index to previously unheard-of heights.
Investor confidence has been bolstered by the steady rising momentum that began Monday’s trading session.
The benchmark index closed at a record high of 109,953.12 after rising 924.50 points, or a strong 0.85% increase. This milestone shows how resilient Nigeria’s capital market is and reflects the increased optimism among market participants.
Trading activity revealed a different trend in spite of the good price changes. While the overall value of trades dropped by 38.78%, transaction volumes dropped by 34.98%. According to market statistics, 19,775 trades involving 637.54 million shares valued at ₦11.09 billion took place.
A number of mid-tier and blue-chip businesses propelled the market’s growth. With remarkable profits of 9.98%, ARADEL was the session’s best performer. UPL (+9.86%), ABCTRANS (+8.43%), LINKASSURE (+8.16%), and CILEASING (+7.32%) were among the other noteworthy achievers.
Strategic purchases in fundamentally good businesses helped to sustain the surge; investors were especially interested in ARADEL, BUAFOODS, and other high-quality equities. The growth in market capitalization as a whole was greatly aided by this selective strategy.
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With 11.36% of all equity trades, FIDELITYBK dominated trading volumes. ACCESSCORP accounted for 8.73% of volume activity, while CUSTODIAN came in second with 9.02%. By volume, GTCO and ZENITHBANK completed the top five most active stocks.
Despite uneven sectoral performance, GTCO led in value terms with 15.76% of total transaction value, indicating sustained interest in big banking stocks.
With 33 rising stocks and 29 falling companies, the market had a positive breadth at the end of the session. Not all equities, meanwhile, took part in the surge; TRIPPLEG led the decliners with -10.00%. MRS (-9.97%), CUSTODIAN (-9.63%), and VFDGROUP (-9.32%) were other noteworthy losses.
Across the five main indices, sectoral performance showed a mixed picture. Consumer goods increased 2.20%, while the oil and gas industry reported robust growth of 3.02%. On the other hand, banks fell by 0.02% while the insurance industry fell by 1.06%. There was no change in the industrial sector.
With a gain of ₦582.90 billion, the total market capitalization surpassed ₦69 trillion, signifying a 0.85% increase. This result shows that investors are still interested in high-quality stocks and that they are still optimistic about Nigeria’s economic future.
A maturing market, where investors are increasingly focused on underlying value rather than speculative trading, is indicated by the combination of record-high index levels and selective buying patterns. This pattern is encouraging for the stability and long-term growth of the market.
