NGX investors Gain N1.5trn as Market Rises 0.92% in 1 Week

The Nigerian equities market closed the week on a positive note, with investors gaining about N1.5 trillion as sustained bargain hunting lifted the market across four of the five trading sessions.
The NGX All-Share Index (ASI) advanced by 0.92% week-on-week to close at 252,113.41 points, while market capitalisation rose to approximately N163.66 trillion.
The market’s year-to-date return also increased to 62.01%.

Despite the positive performance, market breadth remained negative, with 60 stocks gaining against 71 decliners, translating to a breadth ratio of 0.85x.
Trading activity was mixed during the week. While the number of deals declined by 9.11% week-on-week, trading volume and transaction value increased by 44.99% and 1.59%, respectively.
In total, investors exchanged 4.69 billion shares valued at N240.96 billion across 261,671 deals.
Sectoral performance was broadly positive, reflecting continued investor appetite for equities, particularly in the Oil & Gas and Banking sectors.

The Oil & Gas sector led the gains, advancing 3.49%, supported by strong performances from ETERNA and SEPLAT, which more than offset the decline in TOTAL. Continued buying interest in selected energy stocks provided further momentum for the sector.
The Commodity Index also gained 1.89% week-on-week, supported by positive price movements.
The Banking sector followed with a 3.06% gain, driven by advances in FIDELITYBK, ACCESSCORP, GTCO and ZENITHBANK.

The broad-based gains among major banking stocks suggest sustained investor interest in financial equities following the recent shift in the monetary policy environment.
The Industrial Goods sector rose 1.56%, supported by buying interest in CUTIX, AUSTINLAZ and DANGCEM. The performance points to renewed positioning in selected industrial stocks as investors reassess equities amid changing interest-rate expectations.

The Consumer Goods sector also edged higher by 0.62%, with gains in NASCON, CADBURY and HONYFLOUR supporting the sector despite relatively subdued activity.
In contrast, the Insurance sector declined by 0.51%, weighed down by losses in MBENEFIT and MANSARD, which more than offset the gain recorded by FTGINSURE.
On the gainers’ chart, CMFC emerged as the week’s best-performing stock, appreciating by 59.8%.
THOMASWY followed with a 28.3% gain, while UPDC, OMATEK and FTGINSURE advanced by 24.2%, 23.3% and 21.2%, respectively.

On the decliners’ chart, TRANSPOWER recorded the steepest decline, shedding 18.9% during the week. JOHNHOLT also fell by 18.9%, while ELLAHLAKES, LIVINGTRUST and HMCALL declined by 18.1%, 17.5% and 16.7%, respectively.
Cowry Asset Limited expects the equities market to remain cautiously positive, supported by sustained demand for fundamentally strong stocks and continued investor interest in the Banking and Oil & Gas sectors.