- As Firms’ Remarkable Earnings Sustain Bullish Trend
BY BONNY AMADI
Gains recorded by Investors on stocks listed on the NGX Equities market for two straight trading sessions peaked at N3 trillion, combined investment value growth on Wednesday and Thursday respectively.
On Wednesday, N2.6 trillion was pocketed at the close of trading on the bourse, while on Thursday, it peaked at N3 trillion, with N362 billion further growth in share value which climaxed to upbeat in further deepening of portfolio with winning stocks by investors.
Wednesday
On Wednesday, the Nigerian equities market extended its bullish run this mid-week, with the NGX All-Share Index (ASI) appreciating by 3.04% to close at 139,278.67 points, pushing the year-to-date (YTD) return to 35.32%.
This robust performance underscores sustained investor optimism and growing confidence in the resilience of market fundamentals.
Market capitalisation surged by N2.60 trillion to N88.05 trillion, bolstered by strong liquidity and persistent demand for risk assets. Investor sentiment remained upbeat, as reflected in the positive market breadth—39 stocks advanced while 32 declined—driven by a blend of bargain hunting and selective profit-taking.
Top gainers during the week included Multiverse, Royal Exchange, Berger Paints, Dangote Sugar, and NPF Microfinance Bank, with gains ranging from 9.97% to 10%. On the flip side, notable decliners were Abbey Mortgage Bank (-10.00%), FTN Cocoa (-10.00%), Living Trust Mortgage (-9.97%), Sunu Assurance (-9.61%), and Consolidated Hallmark (-7.78%). Sectoral performance was broadly mixed.
The Banking (+1.94%), Industrial Goods (+1.35%), and Commodities (+0.04%) sectors closed positive, while the Insurance and Oil & Gas sectors shed 0.95% and 0.08%, respectively. The Consumer Goods sector ended the week flat.
Meanwhile, trading activity strengthened notably. Total volume and value traded increased by 15.89% and 52.37%, respectively, although the number of deals dipped slightly by 3.20%. In total, 922.03 million shares valued at N35.4 billion were exchanged across 36,423 deals, highlighting sustained market participation and investor interest.
On Thursday
The Nigerian equities market continued its bullish momentum in the week, as the NGX All-Share Index (ASI) rose by 0.42% to close at 139,863.52 points, lifting the year-to-date (YTD) return to 35.89%.
This upward trajectory reflects sustained investor optimism and deepening confidence in the resilience of market fundamentals. Consequently, market capitalisation gained N362 billion to settle at N88.42 trillion, buoyed by ample liquidity and strong demand for risk assets.
Despite the overall market strength, investor sentiment was somewhat mixed, as indicated by the negative market breadth—28 stocks advanced, while 54 declined—amid a blend of bargain hunting and profit-taking activities.
Top gainers during the week included Wema Bank, UACN, Guinness, SKYAVN, and Mercure, while Mansard, FTN Cocoa, Learn Africa, TIP, and Ikeja Hotel led the losers’ chart, each shedding 10%. Sectoral performance leaned positive, with the Banking (+0.08%), Oil & Gas (+0.94%), Industrial Goods (+1.35%), and Commodities (+0.52%) sectors all closing in the green.
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