The Nigerian Exchange (NGX) ended the week on a positive note as sustained year-end buying interest boosted investor confidence, resulting in a ₦1.54 trillion increase in market value.
The benchmark NGX All-Share Index (ASI) rose by 1.63 per cent to close at 149,433.26 points, bringing the market closer to the 150,000-point psychological threshold. Consequently, total market capitalisation appreciated by 1.64 per cent, advancing from approximately ₦93.72 trillion to ₦95.26 trillion within the review period.
Trading activity was moderate, with investors exchanging about 4.37 billion shares valued at ₦97.78 billion in 110,736 transactions, slightly below the previous week’s figures. The financial services sector remained the most active, accounting for the highest volume and value of trades.
Sectoral performance was mixed despite the overall market rally. Indices in the banking, consumer goods, oil and gas, sovereign bonds, and commodities segments closed the week in negative territory, reflecting cautious profit-taking and selective positioning by investors.
In terms of stock performance, Morison Industries Plc, Mecure Industries Plc, Japaul Gold & Ventures Plc, Sovereign Trust Insurance Plc, and PZ Cussons Nigeria Plc topped the gainers’ chart. On the flip side, Eterna Plc, UACN Plc, E-Tranzact International Plc, Transcorp Hotels Plc, and Chellarams Plc recorded notable losses.
Analysts attribute the market’s positive performance to year-end portfolio adjustments, bargain hunting, and expectations of a traditional Santa Claus rally. While the outlook remains optimistic, experts advise caution as investors continue to balance opportunities with prevailing market risks.
Overall, the NGX’s weekly performance reflects sustained investor interest and growing confidence, as the market maintains its upward momentum heading into the final weeks of the year. Visit www.jocomms.com for more news.
