The Nigerian equity market gained N77bn last week, bringing the total market capitalisation to N59.29tn, nearing the anticipated N60tn threshold.
The All-Share Index rose by 0.11% to close at 97,829.02 points, reflecting positive market sentiment.
A total of 1.95bn shares worth N35.86bn were traded in 48,553 deals, compared to 1.48bn shares valued at N38.88bn in 44,795 deals the previous week.
The Financial Services Industry led by volume, trading 1.041bn shares worth N16.207bn in 21,099 deals. This accounted for 53.34% of the total equity turnover volume and 45.19% of the total equity turnover value.
The Oil and Gas Industry followed with 273.407 million shares valued at N6.717bn in 5,489 deals, while the Services Industry ranked third, trading 141.184 million shares worth N779.166 million in 3,072 deals.
Notably, trading in Japaul Gold and Ventures Plc, FBN Holdings Plc, and Access Holdings Plc accounted for a combined 461.5 million shares valued at N6.183bn in 4,658 deals, representing 23.64% of the total equity turnover volume and 17.24% of the total equity turnover value.
The week saw improved performance in equities, with 52 stocks appreciating in price, up from 39 the previous week. Top gainers included Eunisell Interlinked Plc (+60.72%), Tantalizers Plc (+57.33%), and John Holt Plc (+42.49%).
Conversely, 33 stocks declined, a decrease from the 46 losses recorded the previous week. The largest decliners were Mecure Industries Plc (-18.53%), Multiverse Mining and Exploration Plc (-17.61%), and FBN Holdings Plc (-7.97%).
Sector performance was mostly positive, with four indices advancing, one declining, and the Information and Communication Technology index remaining unchanged.
The Insurance and Consumer Goods indices led the gains, rising by 4.5% and 1.9% week-on-week, respectively, fueled by strong buy interest in Sunu Assurance (+16.2%), Mansard Insurance (+13.4%), Unilever (+20.8%), and Dangote Sugar (+16.7%).
Similarly, gains in Wapco (+28.6%), Beta Glass (+9.5%), and Japaul Gold (+7.0%) lifted the Insurance and Oil & Gas indices by 1.8% and 0.2%, respectively.
However, selloffs in Access Holdings (-7.5%) and Sterling (-5.6%) led the Banking index to decline by 2.6%.
