The Nigerian equities market continued its upward momentum last week, with total market capitalisation rising by ₦8.67 trillion to close at ₦139.827 trillion—marking the third consecutive week of gains.
The rally was largely driven by strong buying interest in Aradel Holdings, MTN Nigeria Communications Plc, and BUA Foods Plc, which posted gains of 28.9 per cent, 11 per cent, and 3.3 per cent respectively.
As a result, the Nigerian Exchange Limited All-Share Index (ASI) advanced by 6.6 per cent to 217,131.54 basis points. This pushed the month-to-date return to 12.6 per cent and year-to-date performance to an impressive 39.5 per cent.
Sectoral performance reflected a broadly bullish trend. Oil & Gas led with a 17.6 per cent increase, followed by Banking (+11.9 per cent), Consumer Goods (+3.4 per cent), and Industrial Goods (+1.3 per cent), while the Insurance sector remained flat.
Market breadth remained positive, with 61 gainers versus 36 losers, indicating widespread investor participation. Top performers included Trans-Nationwide Express, which surged by 60.48 per cent, while Ecobank Transnational Incorporated and Stanbic IBTC Holdings gained 46.30 per cent and 36.63 per cent respectively.
On the downside, Coronation Insurance recorded the highest loss, followed by Ikeja Hotel and International Energy Insurance.
Trading activity also strengthened, with investors exchanging 3.588 billion shares valued at ₦195.313 billion in 254,553 deals—an increase from the previous week’s figures.
The Financial Services sector dominated activity, accounting for over 69 per cent of traded volume, with major contributions from Sterling Financial Holdings Company, Access Holdings Plc, and Zenith Bank Plc.
Looking ahead, analysts expect the market’s bullish trend to continue, supported by strong investor sentiment, improving liquidity, and interest in fundamentally sound stocks. However, they caution that some investors may begin to take profits after recent gains, which could lead to short-term pullbacks.
Market participants are also expected to closely monitor upcoming corporate earnings releases and macroeconomic developments, which will likely shape the next phase of market direction.n
