Nigerian Stock Market Delivers ₦3.2 Trillion Weekly Gain As Banking, Telecom Stocks Drive Rally

Banking, Telecom & Energy Stocks Propel Market Higher

THE Nigerian stock market extended its bullish momentum on Friday, delivering a cumulative gain of approximately ₦3.156 trillion to investors over the trading week as renewed buying interest in banking, telecommunications and oil and gas equities lifted market performance.

The rally strengthened investor confidence, pushing both the Nigerian Exchange (NGX) market capitalisation and the benchmark All-Share Index (ASI) to fresh highs while improving the market’s year-to-date return.

The sustained positive performance underscores continued optimism among investors despite prevailing macroeconomic challenges, with blue-chip stocks remaining the primary drivers of market activity.

Market Capitalisation Surpasses ₦147 Trillion

Trading data showed that the market capitalisation increased from ₦143.946 trillion at the beginning of the week to ₦147.102 trillion at Friday’s close.

The increase represents a weekly appreciation of 2.19 per cent, translating into a net value addition of approximately ₦3.156 trillion.

Similarly, the NGX All-Share Index advanced by 4,918.37 basis points, rising from 224,321.97 to 229,240.34, also reflecting a 2.19 per cent gain.

The development further strengthened the market’s year-to-date return to 47.31 per cent, reinforcing the positive trajectory witnessed in recent months.

Market Breadth Remains Positive

Market sentiment remained firmly positive throughout the session, with advancing stocks significantly outnumbering declining equities.

Trading closed with 39 gainers compared with 14 losers, an indication that buying interest remained widespread across multiple sectors of the market.

Analysts note that positive market breadth often reflects broad investor confidence rather than isolated gains among a few heavyweight companies.

Top Performing Stocks

Leading the gainers’ table were Airtel Africa, The Initiates Plc, Omatek Ventures, DAAR Communications, and Universal Insurance, each posting the maximum daily appreciation of 10 per cent.

The stocks closed at:

• Airtel Africa – ₦5,274
• The Initiates Plc – ₦25.85
• Omatek Ventures – ₦1.76
• DAAR Communications – ₦1.65
• Universal Insurance – 88 kobo

Their performance reflected renewed investor appetite across telecommunications, industrial, technology and insurance equities.

Insurance Stocks Dominate Decliners

Despite the overall market rally, several stocks recorded losses during the session.

International Energy Insurance emerged as the biggest loser after declining 9.96 per cent to close at ₦4.70 per share.

Other notable decliners included:

• Meyer Plc – down 9.95 per cent to ₦18.55
• Fortis Global Insurance – down 9.80 per cent to ₦3.22
• Sovereign Trust Insurance – down 5.34 per cent to ₦1.95
• Veritas Kapital Assurance – down 5.07 per cent to ₦1.31

The losses highlighted profit-taking activities in selected insurance and manufacturing stocks.

Trading Activity Slows Despite Market Rally

Although share prices generally appreciated, overall trading activity weakened compared to previous sessions.

Total transaction volume declined by 46.82 per cent to 454.92 million shares, valued at ₦27.61 billion, exchanged in 48,214 deals.

Market analysts attribute such movements to selective buying, with investors concentrating on fundamentally strong stocks rather than broad-based market participation.

Zenith Bank Leads Market Turnover

Zenith Bank emerged as the most actively traded stock by volume during the session.

The bank recorded 49.78 million shares, representing approximately 10.94 per cent of the day’s total traded volume.

It also accounted for the highest value of transactions, with trades worth approximately ₦5.16 billion, representing 18.70 per cent of the market’s total traded value.

The performance reaffirmed sustained investor interest in Nigeria’s banking sector, which has remained one of the strongest-performing segments of the equities market.

Positive Outlook Persists

Market observers say the week’s performance reflects continued confidence in selected sectors of the Nigerian economy, particularly banking, telecommunications and energy.

While fluctuations in trading volumes remain closely watched, analysts believe sustained corporate earnings, investor confidence and positive macroeconomic expectations could continue to support market performance in the near term.

However, they also note that investors are likely to remain selective, balancing opportunities for capital appreciation against evolving domestic and global economic conditions.