Investors Trade 7.77 Billion Shares Worth N374bn as Market Rallies

The Nigerian capital market recorded strong bullish momentum last week as investors traded 7.772 billion shares valued at N374.040bn on the Nigerian Exchange Limited (NGX).

The performance marks a significant increase from the previous week, when 7.075 billion shares worth N324.351bn were exchanged. However, the total number of deals fell slightly to 402,945 from 474,436 recorded earlier.

The surge in activity helped push the NGX All-Share Index up by 2.27 per cent to close at 250,330.92 points, while market capitalisation rose by 2.13 per cent to N160.444tn, reflecting strong investor confidence across key sectors.

Financial Sector Dominates Trading

The Financial Services Industry led market activity, accounting for 4.774 billion shares valued at N196.352bn in 153,515 deals. It contributed 61.43 per cent of total traded volume and 52.49 per cent of total value.

The ICT sector followed with 1.118 billion shares worth N57.825bn, while the Services Industry recorded 601.745 million shares valued at N6.984bn.

At the stock level, FirstHoldCo Plc, United Bank for Africa (UBA) Plc, and Chams Holding Company Plc dominated trading, jointly accounting for 2.195 billion shares worth N99.820bn.

Market Sentiment Turns Positive

Investor sentiment remained upbeat as 74 equities appreciated in price, compared to 69 the previous week. Meanwhile, 24 equities declined and 48 remained unchanged.

Berger Paints Plc emerged as the top gainer with a 55.57 per cent increase, followed by SCOA Nigeria Plc with 45.92 per cent and Daar Communications Plc with 42.41 per cent. Fidson Healthcare and Learn Africa also recorded strong gains above 32 per cent.

On the losers’ chart, Zichis Agro Allied Industries led with an 11.78 per cent decline, while The Initiates Plc dropped 10.03 per cent. NPF Microfinance Bank and NCR (Nigeria) Plc also fell by 10 per cent each.

Corporate Actions and Listings

Fidelity Bank Plc listed an additional 12.974 billion shares from its private placement, raising its total issued shares to 63.174 billion. Trans-Nationwide Express Plc also added 356.184 million shares following a rights issue.

Sovereign Trust Insurance and Universal Insurance activated rights issues during the week, boosting capital market activity.

Fixed Income Market Strengthens

Exchange Traded Products recorded 7.660 million units valued at N1.177bn, while bond trading rose to 290,830 units worth N306.571m.

The Federal Government also listed a N47.355bn five-year green bond due 2030, further deepening activity in the fixed-income segment.