Nigerian Exchange Group Gains N1.498 Trillion This Week

The Nigerian equities market experienced a positive week, appreciating by N1.498 trillion, resulting in a market capitalization of N163.655 trillion. The NGX All-Share Index (ASI) advanced by 2,308.91 basis points or 0.92% week-on-week, closing at 252,113.41 points.

The market breadth was favorable, with 61 gainers and 32 decliners, contributing to a year-to-date return of 62.01%. Despite a 7.19% decline in the number of deals, trading volume and transaction value increased by 44.32% and 1.19%, respectively.

Investors exchanged 4.689 billion shares valued at N240.824 billion across 261,198 deals. The Financial Services Industry led in trading volume with 3.537 billion shares worth N116.666 billion, while the ICT Industry followed with 279.827 million shares valued at N15.773 billion.

The Oil & Gas sector gained 3.49%, driven by strong performances from Eterna (NGX: ETERNA) and Seplat (NGX: SEPLAT), while the Banking sector rose by 3.06%, supported by gains in Fidelity Bank (NGX: FIDELITYBK), AccessBank, GTCO Plc (NGX: GTCO), and Zenith Bank (NGX: ZENITHBANK).