The Nigerian capital market recorded strong bullish performance last week as increased investor demand pushed the value of shares traded to N374 billion, reinforcing optimism across key sectors of the economy.
Trading on the Nigerian Exce Limited closed on a positive note, with investors excing about 7.77 billion shares valued at N374.04 billion. This marked a significant rise compared to the previous week, driven by sustained buying interest in banking, insurance, and select industrial stocks.
The strong trading activity pushed the NGX All Share Index up by 2.27 percent to close at 250330.92 points, while market capitalisation rose by 2.13 percent to N160.44 trillion, delivering notable gains to equity investors.
Financial stocks dominated market activity once again, with the financial services sector accounting for more than 60 percent of total traded volume. Banking heavyweights such as FirstHoldCo Plc and United Bank for Africa Plc led trading momentum alongside other high volume stocks, reinforcing the sector’s central role in market performance.
Investor sentiment remained strongly positive throughout the week as 74 stocks recorded price gains compared to 24 s. The rally was supported by strong performances in mid and large cap stocks across multiple sectors.
Berger Paints Plc emerged as the top gainer of the week, while other notable performers included SCOA Nigeria Plc, Daar Communications Plc, Fidson Healthcare Plc, and Learn Africa Plc.
The week also witnessed significant primary market activity, including the listing of additional shares by Fidelity Bank Plc following a private placement that expanded its issued shares to over 63 billion units. Trans-Nationwide Express Plc also increased its share base following a successful rights issue.
In the fixed income market, trading activity improved as investors exced higher volumes of Federal Government bonds, including the newly listed N47.35 billion green bond due in 2030.
Market analysts attribute the bullish trend to strong liquidity, renewed investor confidence, and expectations of improved corporate earnings across key sectors.
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