Kayode Tokede
Investors’ average return on the Nigerian stock market appreciated by N4.6 trillion week-on-week (W-o-W), driven by renewed demand across selected major indices.
The benchmark indicator, Nigerian Exchange Limited All-Share Index (NGX ASI) gained 2.78 per cent or 6,751.82 basis points WoW to close at 249,804.56 points from 243,052.74 basis points.
The demand for First Holdco Plc (+17.7per cent), Aradel Holdings Plc (+9.6per cent), BUA Cement Plc (+6.8per cent), MTN Nigerian Communications Plc (+3.1per cent) and Zenith Bank Plc (+2.4 per cent) drove the NGX ASI’s Month-to-Date and YtD returns to +2.3per cent and +60.5per cent, respectively.
Consequently, the market capitalisation increased by N4.6 trillion to close the week by N162.157 trillion from N157.587 trillion.
Sectoral performance was broadly positive, as the Banking (+4.4per cent), Insurance (+3.8per cent), Oil & Gas (+3.7per cent), Industrial Goods (+3.1per cent) and Consumer Goods (+0.5per cent) indices all closed higher for the week.
Market breadth remained firmly positive during the week, with 61 gainers against 39 losers. The strong breadth reflected improved investor sentiment, as advancing stocks significantly outnumbered declining counters.
Sovereign Trust Insurance led the gainers table by 30.95 per cent to close at N2.20, per share. Mutual Benefits Assurance followed with a gain of 22.03 per cent to close at N3.60, while Nigerian Exchange Group went up by 21.55 per cent to close to N179.90, per share.
On the other side, Transcorp Power led the decliners table by 18.94 per cent to close at N178.00, per share. John Holt followed with a loss of 18.89 per cent to close at N7.30, while Ellah Lakes declined by 18.14 per cent to close at N8.35, per share.
Overall, a total turnover of 3.249 billion shares worth N237.986 billion in 287,919 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 3.647 billion shares valued at N130.151 billion that exchanged hands last week in 244,777 deals.
Commenting, analysts at Cowry Assets Management Limited stated, “Overall, the market’s positive performance was largely driven by strong investor sentiment, increased demand for selected stocks, and broad-based gains across all sectors, with the Banking sector serving as the primary catalyst for the week’s advance.”
On its part, Cordros Securities Limited noted that, “In the coming week, market direction will likely be shaped by the outcome of the 307th MPC meeting scheduled September 21 and 22, 2026, developments in the primary market auctions, and the reinclusion of Nigerian equities in the FTSE Index, effective September 21, 2026.”