The Nigerian equities market this week remained on a growth trajectory, gaining N10.66 trillion, as gains in mid-cap and heavyweight stocks drove overall performance.
This resulted in market capitalisation of listed equities appreciating by 7.33 per cent to N155.994 trillion from N145.334 trillion reported the preceding week.
The NGX benchmark All-Share Index (ASI) rose by 16550.32 basis points, a 7.33 per cent week-on-week increase to settle at 242,277.81 points against 225727.49 points recorded in the previous week, strengthening the year-to-date return to 55.69 per cent, reflecting sustained positive investor sentiment.
The market breadth weakened slightly, closing negative at with 52 gainers against 53 decliners, indicating mild and selective buying interest across the market.
Trading activity remained robust during the week, with the number of deals, volume and total value traded rising by 11.86 per cent, 27.25 per cent, and 34.49 per cent week-on-week, respectively.
In total, investors traded 4.842 billion shares valued at N287.756 billion across 332,453 deals, underscoring heightened market participation.
The result for the week showed that the Financial Services Industry led the activity chart with 3.755 billion shares valued at N124.398 billion traded in 146,938 deals, contributing 77.56 per cent and 43.23 per cent to the total equity turnover volume and value, respectively.
The Consumer Goods Industry followed with 177.009 million shares worth N30.853 billion in 36,609 deals; third position went to Services Industry, with a turnover of 176.809 million shares worth N4.387 billion in 15,310 deals.
Trading in the top three equities – Access Holdings Plc, United Bank for Africa Plc, and Wema Bank Plc. – accounted for 2.026 billion shares worth N60.036 billion in 39,925 deals, contributing 41.85 per cent and 20.86 per cent to the total equity turnover volume and value, respectively.
Capital market operators projected that the Nigerian equities market would maintain its positive growth, supported by sustained investor interest in fundamentally sound and large-cap stocks.
They, however, said the recent strong rally might trigger intermittent profit-taking, particularly in stocks that had recorded significant price appreciation in recent sessions.
They added that market direction would likely be influenced by portfolio rebalancing activities, liquidity conditions, and investor positioning ahead of macroeconomic developments.
