The Nigerian stock market ended last week on a positive note, snapping out of its recent cautious trend as renewed investor appetite lifted market capitlisation by N985 billion.
The benchmark Nigerian Exchange Limited All-Share Index (NGX ASI) appreciated by 1.13 per cent week-on-week (WoW) to close at 140,545.69 basis points with the the month-to-date and year-to-date returns improved to +0.3per cent and +36.7per cent, respectively..
In the same vein, the market capitalisation gained by N985 billion to close at N88.92 trillion.
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The stock market last week was driven by gains in Lafarge Africa Plc (+13.3per cent), Zenith Bank (+4.8per cent), United Bank for Africa Plc (+4.2per cent) and Dangote Sugar Refinery Plc (+9.1per cent).
Sectoral performance was broadly positive, with gains recorded across Oil & Gas (+2.4per cent), Insurance (+2.4per cent), Banking (+1.7per cent), Industrial Goods (+1.1per cent), and Consumer Good (+one per cent) indices.
Market breadth closed strong, with 70 gainers against 22 decliners. e-Tranzact International led the gainers table by 45.15 per cent to close at N14.95, per share. Regency Assurance followed with a gain of 27.69 per cent to close at N1.66, while Chellarams went up by 26.67 per cent to close to N13.30, per share.
On the other side, Union Dicon Salt led the decliners table by 18.33 per cent to close at N9.80, per share. Thomas Wyatt Nigeria followed with a loss of 16.33 per cent to close at N2.51, while Secure Electronic Technology declined by 10.42 per cent to close at 86 kobo, per share.
Overall, a total turnover 3.188 billion shares worth N99.685 billion in 132,711 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 3.117 billion shares valued at N90.295 billion that exchanged hands prior week in 118,018 deals.
On market’s performance this week, Cowry Asset Management Limited said, “we expect the Nigerian equities market to trade with a cautious bullish bias. Sustained investor interest in bellwether stocks and improved market liquidity could extend the positive momentum. However, weak market breadth highlights lingering caution, suggesting that gains may remain selective across sectors.
“Profit-taking in recent rallying counters is also likely, particularly among top gainers. Overall, market direction will be shaped by liquidity levels, portfolio rebalancing, outcome of the August 2025 CPI data and forthcoming MPC meeting as investors weigh equities against attractive yields in the fixed-income space. We continue to advise investors to take position in stocks with strong fundamentals.”
United Capital Plc stated that “the Nigerian equity market could see a mild recovery next week. This is hinged on potential release of H1 2025 financials of key banks and expectation of a possible rate cut by policymakers.”
Also, a group of analysts at Cordros Research noted that stock market investor sentiment is expected to remain cautious, with portfolio flows skewed toward fundamentally justified stocks offering compelling entry opportunities.
