Nigerian Equities Market Gains N2.673 Trillion Weekly

The Nigerian equities market demonstrated resilience by recording a weekly gain of N2.673 trillion, closing at a market capitalization of N126.436 trillion, up from N123.763 trillion the previous week. This reflects a 2.16% increase, with the NGX share index improving by 4141.38 basis points.

Year-to-date returns have improved to 26.58%, indicating sustained positive momentum in the domestic equities market. Despite this, market breadth showed a negative trend with 44 gainers compared to 58 decliners, indicating losses across a larger number of stocks.

Trading activity decreased, with a turnover decline of 32.74% to N177.687 billion across 370,980 deals. The financial services industry led trading activity, contributing 66.14% of total equity turnover.

Notable stocks included Jaiz Bank PLC and Access Holdings PLC, which accounted for significant trading volumes. The oil and gas sector also performed well, advancing by 9.43%.

However, the insurance sector faced a decline of 1.88%, reflecting sustained selling pressure.