The Nigerian Exchange (NGX) rebounded strongly last week, adding N614 billion in market capitalisation as investor sentiment turned positive. The benchmark NGX All-Share Index (ASI) rose by 0.90%, closing at 109,710.37 basis points, while total market capitalisation reached N68.95 trillion—signaling increased confidence and renewed activity in key sectors of the economy.
The weekly equity market performance marked a reversal from the prior week’s dip, supported by aggressive buying in fundamentally sound and large-cap stocks, particularly in the banking, services, and consumer goods sectors.
Data released by the Nigerian Exchange shows that investors traded a total of 2.606 billion shares worth N63.785 billion in 77,593 transactions—only slightly down from the previous week’s 2.645 billion shares valued at N77.005 billion across 86,110 deals. Despite this dip in value, the broader sentiment remained bullish.
The Financial Services sector once again dominated trading activity, accounting for 59.08% of total volume and 45.41% of total value. Specifically, the sector recorded 1.540 billion shares worth N28.963 billion exchanged in 32,805 transactions. It was followed by the Services industry, with 286.833 million shares worth N1.711 billion in 6,280 deals. The Consumer Goods sector placed third, recording a turnover of 202.565 million shares valued at N7.439 billion in 9,708 deals.
Among the most traded stocks were FCMB Group Plc, Access Holdings Plc, and Tantalizer Plc. Together, these three accounted for 600.684 million shares worth N6.57 billion in 7,201 deals, representing 23.05% of the total trading volume and 10.30% of the total value.
Despite the overall positive close, market breadth was somewhat mixed. A total of 61 equities appreciated in price, down from 68 in the previous week, while 31 equities recorded losses—higher than the 28 reported in the preceding week. Meanwhile, 56 equities remained unchanged, compared to 52 the previous week.
Beta Glass Plc led the gainers’ chart with a notable 46.31% rise, moving from N160.65 to N235.05. Champion Breweries Plc followed with a 42.08% gain to close at N6.82. Other top performers included Caverton Offshore Support Group Plc (+37.70%), FTN Cocoa Processors Plc (+36.32%), and Northern Nigeria Flour Mills Plc (+32.49%).
On the flip side, Multiverse Mining and Exploration Plc led the decliners with a 19.50% drop to N8.05. Other notable losers were Union Dicon Salt Plc (-11.83%), Nigerian Aviation Handling Company Plc (-9.64%), University Press Plc (-8.90%), and Legend Internet Plc (-6.67%).
The fixed income market also recorded increased activity. A total of 138,668 units of bonds worth N26.703 million were traded in 148 deals, significantly up from the 26,367 units valued at N6.753 million recorded the previous week.
In the Exchange-Traded Products (ETPs) segment, 121,749 units valued at N118.695 million were traded in 56 deals—representing a decline compared to 169,476 units valued at N175.300 million in 30 deals a week earlier.
Adding to the momentum in the fixed income space, the Exchange listed the April 2025 issuance of the Federal Government of Nigeria Savings Bond, alongside supplementary listings of existing bond units on May 15, 2025. This move is expected to deepen market participation and enhance investor confidence in the nation’s debt instruments.
Market analysts predict sustained investor appetite for value stocks as corporate earnings trickle in and macroeconomic indicators stabilize. Continued interest in blue-chip equities and increased government bond listings could further propel the equities and fixed income segments in the coming weeks.
The Nigerian Exchange’s recent gains underscore the resilience of the local market amidst global economic uncertainty, and demonstrate the pivotal role of strategic reforms and investor engagement in driving capital market growth.