The Nigerian Exchange (NGX) closed the week on a strong footing, with the All-Share Index finishing at 166,129.50 points — a gain of 2.36% — while overall market capitalisation rose 2.48% to reach N106.354 trillion. Eighty equities recorded price appreciation during the week, and only the NGX AFR Dividend Yield Index bucked the broadly positive trend, slipping a marginal 0.15%. The numbers tell a story of a market gathering momentum, even if cautiously.
Total turnover for the week reached 4.607 billion shares, valued at N130.636 billion across 263,439 deals — a notable step up from the 4.164 billion shares worth N94.026 billion recorded in the prior week. The financial services sector dominated proceedings, accounting for 67.84% of total equity turnover volume. That sector alone saw 3.126 billion shares change hands, valued at N47.225 billion in 94,186 deals, underscoring just how central banking and insurance stocks remain to the NGX’s daily rhythm. The services industry followed with 353.436 million shares worth N5.096 billion, while the ICT sector ranked third with 277.263 million shares valued at N18.009 billion.
The Stocks That Moved the Market
Three equities — Sovereign Trust Insurance Plc, Access Holdings Plc, and Linkage Assurance Plc — together accounted for 1.406 billion shares worth N9.735 billion in 11,732 deals, representing 30.52% of total volume. That concentration in a handful of names is worth noting; it signals that investor appetite, while broad, is still clustering around familiar, liquid stocks rather than spreading evenly across the board.
On the gainers’ side, NCR (Nigeria) Plc led emphatically, jumping 60.79% from N79.95 to N128.55. SCOA Nigeria Plc was close behind with a 59.36% surge, moving from N9.35 to N14.90. Other notable risers included DEAP Capital Management & Trust Plc (+48.67%), Jaiz Bank Plc (+45.73%), and Omatek Ventures Plc (+38.28%).
The decliners were far fewer and their losses considerably more contained. Ikeja Hotel Plc led the retreat, falling 12.38% from N40.00 to N35.05. Austin Laz & Company Plc dropped 9.20%, and Eterna Plc shed 7.71%. Insurance stocks featured prominently among the fallers — Universal Insurance, Lasaco Assurance, Cornerstone Insurance and Sunu Assurances all declined, which is a mild counterpoint to the sector’s otherwise dominant trading volumes. Fidson Healthcare Plc and Nascon Allied Industries Plc also closed lower, down 4.24% and 4.17% respectively.
Market breadth remained positive overall, though it was marginally softer than the previous week. Eighty equities gained compared with 84 the week before, while the number of decliners fell from 22 to 17. Fifty equities closed unchanged, up from 42 previously — a sign that parts of the market are in a holding pattern rather than actively selling off. The trajectory remains upward, but investors would be wise to watch whether the concentration in financial services stocks continues to carry the index or whether broader participation deepens in the weeks ahead.