The Nigerian All-Share Index ended the week on a strong note, rising by 1,989.60 points to close at 148,977.64, a 1.35% weekly gain.
From an opening level of 146,988.04, the benchmark continued its upward march, crossing key levels at 147,000 and 148,000, driven by gains in several large-cap stocks such as DANGOTE CEMENT and LAFARGE.
Market activity also improved, with a total of 2.4 billion shares traded, up from 2.2 billion shares exchanged in the previous week.
On the value side, market capitalization expanded to N94.5 trillion, compared to N93.2 trillion a week earlier, across 126,591 deals.
Investor sentiment remained broadly positive:
- 52 equities appreciated in price, up from 51 in the prior week.
- 41 equities declined, matching the previous week’s tally.
- 53 equities closed flat.
So far, the All-Share Index has gained 4.39% month-to-date and an impressive 44.74% year-to-date.
Market overview
The All-Share Index ended four out of five trading days in the green during the week.
- Trading began on a strong note on Monday, with the index rising 729 points, but Tuesday brought a mild 6.3-point decline.
- Wednesday was nearly flat, adding just 31 points, while the rest of the week closed firmly positive, with the index breaking the 148,000 mark by Thursday.
Key highlights
The NGX Premium Index advanced 1.65%, lifted by a 4.35% rise in DANGOTE CEMENT, a 4.27% gain in LAFARGE, 1.29% in FIRSTHOLDCO, and 0.72% in MTN Nigeria.
Similarly, the NGX 30 Index gained 1.43%, while the NGX-Main Board Index jumped 1.21%.
Sectoral performance
- Leading the pack was the NGX Industrial Goods Index, up 2.79%, driven by strong gains of over 4% in DANGOTE CEMENT and LAFARGE, alongside a 0.63% rise in BUA CEMENT.
- The NGX Insurance Index followed with a 2.56% gain, supported by solid performances in SOVEREIGN TRUST INSURANCE, UNIVERSAL INSURANCE, and PRESTIGE ASSURANCE.
- The NGX Consumer Goods Index also advanced 1.93%, driven by a 7.41% rally in VITAFOAM, while the NGX Oil & Gas Index rose 0.04%.
On the downside, the NGX Banking Index slipped 0.13%, making it the only major index to close in the red.
Top gainers
Leading the pack was SOVEREIGN TRUST INSURANCE PLC, which gained 11.21% week-to-date to close at N3.57. ROYAL EXCHANGE PLC followed closely with an 11.11% gain, closing at N2.40.
Other major gainers included:
- EUNISELL INTERLINKED PLC: up 10.00% to N48.40
- SFS REAL ESTATE INVESTMENT TRUST: up 9.88% to N418.75
- OMATEK VENTURES PLC: up 9.49% to N1.50
- TRANSCORP POWER PLC: up 8.92% to N342.00
- STANBIC IBTC HOLDINGS PLC: up 8.26% to N118.00
- UNIVERSAL INSURANCE PLC: up 8.11% to N1.20
- VITAFOAM NIG PLC: up 7.41% to N87.00
- PRESTIGE ASSURANCE PLC: up 6.51% to N1.80
Top losers
On the flip side, TRIPPLE GEE AND COMPANY PLC led the laggards, shedding 18.84% week-to-date to close at N4.91. ACADEMY PRESS PLC followed with a 17.92% drop to N7.88.
Other notable decliners were:
- REGENCY ASSURANCE PLC: down 13.94% to N1.42
- LIVINGTRUST MORTGAGE BANK PLC: down 13.46% to N4.50
- INDUSTRIAL & MEDICAL GASES NIGERIA PLC: down 9.87% to N32.40
- SUNU ASSURANCES NIGERIA PLC: down 9.01% to N5.25
- UACN PLC: down 8.53% to N66.50
- AUSTIN LAZ & COMPANY PLC: down 7.94% to N2.90
- ELLAH LAKES PLC: down 7.20% to N13.40
- CHAMS HOLDING COMPANY PLC: down 6.98% to N4.00
Corporate actions overview
The week was marked by several key corporate disclosures and sector-wide developments:
- Transcorp Power Plc released its Q3 financial report.
- Royal Exchange Plc and Austin Laz & Company Plc also published their third-quarter results.
- Geregu Power Plc announced the appointment of StructureHQ as its new Company Secretary.
- Okomu Oil Plc and Infinity Trust Mortgage Bank Plc released their Q3 financial statements.
- BUA Foods Plc notified shareholders of a likely delay in filing its Q3 results, citing internal data migration as the reason.
Market outlook
The Nigerian stock market continued to show strength, conquering new barriers at the 147,000 and 148,000 levels on the back of gains in select large-cap stocks.
As more Q3 earnings reports are released, positive results could further boost investor sentiment and potentially drive additional market gains in the coming sessions.
