The Nigerian equities market recorded a positive performance last week as investors gained N614bn, with the Nigerian Exchange All-Share Index rising by 0.90 per cent to close at 109,710.37 basis points, while the market capitalisation settled at N68.953tn.
This marks a rebound from the previous week’s negative sentiment, as improved investor confidence and renewed interest in large-cap and fundamentally sound stocks drove gains across most sectors.
According to data from the NGX, investors traded a total of 2.606 billion shares worth N63.785bn in 77,593 deals, slightly lower than the 2.645 billion shares valued at N77.005bn exchanged in 86,110 deals in the preceding week.
The Financial Services industry maintained dominance on the activity chart, accounting for 1.540 billion shares valued at N28.963bn in 32,805 deals, contributing 59.08 per cent and 45.41 per cent to the total equity turnover volume and value, respectively.
It was followed by the Services industry, with 286.833 million shares worth N1.711bn in 6,280 deals, while the Consumer Goods industry ranked third with a turnover of 202.565 million shares valued at N7.439bn in 9,708 deals.
The top three equities traded by volume were FCMB Group Plc, Access Holdings Plc, and Tantalizer Plc, which jointly accounted for 600.684 million shares worth N6.570bn in 7,201 deals. These contributed 23.05 per cent and 10.30 per cent to the total equity turnover volume and value, respectively.
Market breadth was mixed as 61 equities appreciated in price, lower than 68 in the previous week.
Meanwhile, 31 equities recorded losses, higher than 28 in the previous week, while 56 equities remained unchanged, up from 52 recorded earlier.
In terms of price movement, Beta Glass Plc led the gainers’ chart with a 46.31 per cent increase from N160.65 to N235.05, followed by Champion Breweries Plc, which gained 42.08 per cent to close at N6.82.
Others on the top gainers’ list included Caverton Offshore Support Group Plc with a 37.70 per cent increase, FTN Cocoa Processors Plc with a 36.32 per cent rise, and Northern Nigeria Flour Mills Plc with a 32.49 per cent gain.
On the flip side, Multiverse Mining and Exploration Plc led the losers with a 19.50 per cent decline to close at N8.05, followed by Union Dicon Salt Plc, which dropped 11.83 per cent, Nigerian Aviation Handling Company Plc down 9.64 per cent, University Press Plc losing 8.90 per cent, and Legend Internet Plc falling 6.67 per cent.
Meanwhile, the fixed income market also witnessed activities as a total of 138,668 units valued at N26.703m were traded in 148 deals, up from 26,367 units valued at N6.753m recorded the previous week.
Additionally, 121,749 units valued at N118.695m were traded in 56 deals in the Exchange-Traded Products segment, though this was lower than the 169,476 units valued at N175.300m traded in 30 deals the week before.
The Exchange also listed the April 2025 issue of the Federal Government of Nigeria Savings Bonds, while additional units of the existing bond were listed as a supplementary listing on Thursday, 15 May 2025, reinforcing confidence in the fixed income space.
The PUNCH reported that the Nigerian Exchange gained N257bn in market capitalisation on Thursday, as investors showed renewed interest in consumer goods and industrial stocks, led by Nestle Nigeria, Honeywell Flour Mill, and Beta Glass.