The Nigerian equities market closed the week on a positive note as sustained buying interest in large-cap stocks pushed the benchmark index higher, extending the market’s bullish momentum.
According to the Weekly Economic Market Report by the Nigerian Exchange, strong gains in BUACEMENT, FIRSTHOLDCO, MTNN, ZENITHBANK and HBMNG drove the Nigerian Exchange (NGX) All-Share Index (ASI) up by 1.6 per cent week-on-week to close at 247,357.41 points.
BUACEMENT recorded a gain of 17.6 per cent, while FIRSTHOLDCO surged 25.6 per cent. MTNN advanced 2.8 per cent, ZENITHBANK appreciated 11.0 per cent, and HBMNG gained 4.3 per cent, helping to lift overall market performance.
The report showed that the latest rally pushed the market’s *month-to-date return to 7.8 per cent, while the *year-to-date return climbed to an impressive 59.0 per cent, reflecting sustained investor confidence in Nigerian equities.
Investor participation also strengthened during the week. Total trading volume increased by 53.1 per cent week-on-week, while the total value of traded equities rose by 64.8 per cent, indicating stronger market liquidity and improved trading activity.
Sectoral performance was largely positive, with the Banking Index leading the gainers after rising 8.3 per cent. The Industrial Goods Index followed with a 5.0 per cent increase, while the Insurance Index advanced 3.9 per cent. The Oil and Gas Index also posted a marginal gain of 0.1 per cent.
The Consumer Goods Index was the only sector to close in negative territory, declining 3.8 per cent during the week as investors booked profits in selected consumer stocks.
Looking ahead, Cordros Capital expects market activity to remain driven by the release of half-year 2026 corporate earnings and interim dividend announcements. The investment firm said these developments are likely to encourage stock-specific positioning as investors seek opportunities in fundamentally strong companies.
Market analysts believe positive corporate results and attractive dividend declarations could provide additional support for the equities market in the coming weeks, despite prevailing macroeconomic uncertainties.
