The Nigerian equity market recorded significant growth last week, adding N1.1 trillion as the All-Share Index closed at 104,496.12 points, pushing market capitalization to N64.709 trillion.
Despite downturns in the insurance and industrial goods sectors, which dropped by 2.86% and 0.52%, respectively, strong performances in key industries fueled the overall market gain.
Trading activity surged, with 3.245 billion shares worth N69.198 billion exchanged in 77,270 deals—an increase from the previous week’s 3.132 billion shares. The Financial Services Industry dominated trading, accounting for 1.742 billion shares valued at N32.529 billion, representing 53.69 per cent and 47.01 per cent to the total equity turnover volume and value.
The services and oil and gas sectors followed closely, trading 748.205 million shares worth N1.560 billion and 264.682 million shares valued at N16.786 billion, respectively. Secure Electronic Technology Plc, FBN Holdings Plc, and Japaul Gold and Ventures Plc emerged as the top three traded equities, contributing 30.77% of total market volume and 9.54% of total value.
The Nigerian stock market saw increased activity as 52 equities recorded price gains, up from 44 in the previous week. Leading the gainers’ chart were Chellarams Plc, which surged by (+60.44 per cent), and Vitafoam Nig Plc, rising by (+31.48 per cent). Meanwhile, Veritas Kapital Assurance Plc and MRS Oil Nigeria Plc experienced notable declines.
In the fixed income segment, the Debt Management Office (DMO) offered N450 billion across three bond maturities: APR-29 (reopening) at 21.8%, FEB-31 (reopening) at 22.5%, and JAN-35 (new issue) at 22.6%.
Additionally, the Nigerian Stock Exchange saw a market rebound on Tuesday, with investors gaining N364 billion as the All-Share Index climbed 0.57% to close at 104,549.74 points.
