The Nigerian equities market closed the week on ended 18 September, a positive note, driven by renewed demand across selected counters.
Similarly, the benchmark NGX All-Share Index (ASI) rose by 2.78% week-on-week (WoW) to close at 249,804.56 points, while market capitalisation increased by approximately N4.57 trillion to N162.16 trillion.
Accordingly, the market’s year-to-date (YTD) return surged to 60.53%. Market breadth remained firmly positive during the week, with 61 gainers against 39 losers, translating to a breadth ratio of 1.56x.
The strong breadth reflected improved investor sentiment, as advancing stocks significantly outnumbered declining counters. Trading activity was mixed across the major market indicators.
While trading volume declined by 11.33% WoW, both the number of deals and transaction value increased by 17.41% and 82.06% WoW, respectively. In total, investors exchanged 3.23 billion shares, valued at N237.18 billion, across 287,892 deals.
Sectoral performance remained firmly positive during the week and reflected broad-based market participation, with gains across all tracked sectors.
The stronger performance of banking and insurance stocks suggests continued rotation into financial counters, while the relatively modest gain in Consumer Goods points to more selective buying within the sector.
The banking sector rose 4.43%, supported by renewed buying interest in FIRSTHOLDCO, WEMABANK, and ZENITHBANK. The sector’s strong performance highlights continued investor appetite for banking stocks amid sustained interest in major financial institutions.
The insurance sector followed with a 4.79% gain, driven by significant advances in SOVRENINS, MBENEFIT, and FTGINSURE.
The broad-based buying across insurance counters provided further support to the sector following recent volatility. The Oil & Gas sector advanced 3.71%, buoyed by gains in ARADEL and ETERNA.
Positive sentiment towards selected energy stocks continued to support the sector despite fluctuations in global crude prices.
Similarly, the Industrial Goods sector gained 3.12%, supported by renewed buying interest in BETAGLAS, BUACEMENT, and AUSTINLAZ. The sector’s
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