The Nigerian stock market sustained its upward trend last week, with investors recording a gain of N1.359 trillion as bullish sentiment continued to dominate trading on the Nigerian Exce Limited.
Market capitalisation rose to N131.165 trillion from N129.806 trillion in the previous week, reflecting increased investor confidence and strong demand for fundamentally sound stocks. Similarly, the All Share Index appreciated by 1.03 percent to close at 203,770.43 points, up from 201,698.89 points.
The rally was largely driven by sustained institutional interest in large cap stocks, particularly within the banking, consumer goods, and industrial sectors. Analysts noted that strong liquidity inflows into these bellwether equities continue to support the market positive trajectory.
Trading activity also recorded significant growth during the week. A total of 3.361 billion shares valued at N151.948 billion were exced in 229,442 deals, compared to 2.856 billion shares worth N113.597 billion traded in the previous week.
Sectoral performance showed that the financial services industry dominated trading, accounting for over 68 percent of total volume and nearly 60 percent of value. The services and ICT sectors followed, contributing significantly to overall market activity.
From a broader perspective, developments in the global oil market played a key role in shaping investor sentiment. Ongoing concerns about supply disruptions, particularly around the Strait of Hormuz, have helped sustain higher oil prices.
For Nigeria, stronger oil prices provide support for fiscal ility, external reserves, and investor confidence, especially in oil related stocks.
Market analysts believe that future performance will depend on a mix of domestic and global factors, including interest rate trends, inflation outlook, corporate earnings, and oil price movements. They advised investors to remain cautious and focus on fundamentally strong stocks with consistent earnings and growth potential.
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