Nigerian Equities Market Gains N1.5 Trillion This Week

The Nigerian equities market closed positively, with investors gaining about N1.5 trillion as sustained bargain hunting occurred across four of the five trading sessions. The NGX All-Share Index (ASI) increased by 0.92% week-on-week, closing at 252,113.41 points, while market capitalisation rose to approximately N163.66 trillion.

The year-to-date return reached 62.01%. Despite this positive performance, market breadth was negative, with 60 stocks gaining and 71 declining, resulting in a breadth ratio of 0.85x.

Trading activity showed mixed results; the number of deals decreased by 9.11%, while trading volume and transaction value increased by 44.99% and 1.59%, respectively. The Oil & Gas sector led gains at 3.49%, followed by the Banking sector at 3.06%.

The Industrial Goods sector rose by 1.56%, and the Consumer Goods sector increased by 0.62%. Conversely, the Insurance sector declined by 0.51%.

CMFC (NGX: CMFC) was the best-performing stock, appreciating by 59.8%, while TRANSPOWER recorded the steepest decline at 18.9%. Cowry Asset Limited anticipates a cautiously positive market outlook.