The Nigerian equities market extended its bullish run for the third consecutive session on Friday, gaining a substantial ₦395 billion in market capitalization as investor confidence strengthened across major sectors.
The All-Share Index (ASI) advanced by 622.60 points, or 0.42%, to close at 148,977.64, up from 148,355.04 in the previous session. Consequently, market capitalization rose to ₦94.56 trillion, compared to ₦94.17 trillion previously recorded.
Market Performance
Market breadth closed positive, with 39 gainers outpacing 23 losers, reflecting broad-based investor optimism.
Eunisell Interlinked Plc led the gainers’ chart, appreciating by 10% to close at ₦48.40 per share. It was followed by UPDC Plc, which gained 9.92% to ₦6.98. Other top performers included Sovereign Trust Insurance (+9.51%), Universal Insurance (+9.09%), and Daar Communications (+8.74%).
Conversely, Livingtrust Mortgage Bank topped the losers’ list, declining by 10% to close at ₦4.50. International Energy Insurance lost 8.39% to ₦2.73, while Consolidated Hallmark Holdings, Sterling Nigeria, and WAPIC Insurance fell by 6.29%, 4.88%, and 4.55% respectively.
Trading Activity
Investors exchanged 480.99 million shares worth ₦16.78 billion in 22,854 deals.
United Bank for Africa (UBA) dominated trading with 59.18 million shares valued at ₦2.48 billion, followed by Access Corporation, which recorded 50.39 million shares worth ₦1.29 billion, and Fidelity Bank, which traded 46.99 million shares valued at ₦944 million.
Market Sentiment
Analysts attributed the sustained rally to renewed investor interest in value stocks and optimism over Nigeria’s improving macroeconomic indicators. Although trading volume increased, both transaction value and deal count dipped slightly, signaling a cautious but confident sentiment.
The ongoing rally reflects strengthening investor confidence amid expectations of stable monetary policy, easing inflation, and resilient corporate earnings.
Outlook
Market analysts anticipate that the positive sentiment will likely persist in the near term, buoyed by bargain hunting and portfolio repositioning ahead of year-end results. However, they advise investors to remain watchful of key macroeconomic factors such as interest rate trends, foreign exchange movements, and fiscal policy adjustments.
