The Nigerian stock market continued its bullish momentum on Friday, closing with a market capitalization of ₦83.2 trillion, a new all-time high. The All-Share Index (ASI) climbed by 1.00% to end the week at 131,585.6 points, driven by strong investor sentiment and impressive mid-cap performances.
FCMB, Fidelity Bank Dominate Trading Activity
Trading volumes surged to 3.3 billion shares, more than double the previous session’s total of 1.19 billion. First City Monument Bank (FCMB) led the volume chart with 1.3 billion shares traded, closely followed by Fidelity Bank, which recorded 1.1 billion shares.
Top five most traded stocks by volume:
- FCMB – 1.3 billion shares
- Fidelity Bank (FIDELITYBK) – 1.1 billion shares
- Access Corp – 113.8 million shares
- CHAMS – 92.6 million shares
- Zenith Bank – 50.7 million shares
In terms of value, Fidelity Bank also topped the chart with transactions worth ₦23 billion, followed by FCMB with ₦12.6 billion.
Mid-Cap Stocks Shine Bright
Mid-cap stocks were the stars of the day, with several recording the maximum daily gain of 10%. Among the top gainers were:
Learn Africa (LEARNAFRCA) – ₦6.27 (+10.00%)
NCR Nigeria (NCR) – ₦6.60 (+10.00%)
UPDC – ₦4.84 (+10.00%)
BUA Cement – ₦188.60 (+9.98%)
Ellah Lakes – ₦3.41 (+9.98%)
Top Losers
On the losing side, Red Star Express (REDSTAREX) and Union Dicon Salt (UNIONDICON) fell by 10% each. Other notable declines included:
Academy Press (ACADEMY) – 6.67%
Sterling Financial Holdings (STERLINGNG) – 4.34%
First Holdco – 4.10%
Market Outlook
The strong rally in both mid- and large-cap sectors has lifted investor confidence. With the ASI now above the 131,000 mark, analysts suggest that if sentiment remains positive, the market could test the 135,000-point level in the coming sessions.
However, caution is advised as some valuations appear stretched, and profit-taking may set in.
