Buying Interest buoyed investors’ earnings by N1.36trn as Market Breadth Weakens

The NGX equities market is poised to open the new week on a positive note once again, as gains in a few key stocks lifted overall performance last week

The benchmark NGX All-Share Index (ASI) edged up 1.03 per cent week-on-week to close at 203,770.42 points, while market capitalization rose by 1.05% to N131.17 trillion.

This represents a gain of approximately N1.36 trillion, up from the N837 billion recorded the previous week. Consequently, the year-to-date return improved to 30.95%, reflecting sustained positive momentum.

However, market breadth was negative at 0.46x, with 25 stocks gaining against 54 decliners—indicating that despite the overall market growth, more stocks actually recorded losses during the week.

Trading activity also turned positive, reversing the previous week’s losses. The number of deals, trading volume, and total value traded surged by 6.62%, 17.67%, and 33.73% week-on-week, respectively.

In total, investors traded 3.36 billion shares worth N152.13 billion across 230,368 deals, pointing to stronger market participation.

Sectoral performance closed the week on a positive note, as performance reflects a market tilted toward fundamentally strong and liquid counters, with investors rotating into banking and select consumer names while trimming exposure to weaker segments such as insurance.

The Insurance sector was the sole laggard, declining by 3.64% week-on-week, pressured by significant sell-offs in Sovereign Trust Insurance and Royal Exchange, reflecting weak investor sentiment in the segment.

On the upside, the Banking sector led market performance, advancing by 5.10% week-on-week, supported by strong buying interest in tier-1 names such as Guaranty Trust Holding Company (+10.66%), Zenith Bank, and FirstHoldCo. The rally reflects sustained investor positioning in fundamentally strong banks, driven by attractive valuations and earnings resilience.

The Consumer Goods sector followed with a 3.73% gain, buoyed by renewed interest in NASCON Allied Industries and Guinness Nigeria, indicating selective accumulation in defensive consumer names.