The Nigerian Exchange ended the first week of June on a bullish trajectory, adding a substantial ₦1.81 trillion to investors’ wealth, despite a shortened trading window due to the Eid-el-Kabir holidays.

The All-Share Index climbed 2.57 per cent to close at 114,616.75 points, while market capitalisation rose from ₦70.465 trillion to ₦72.275 trillion. Market analysts attributed the positive performance to renewed investor confidence and bargain hunting in fundamentally strong stocks as the second half of the year begins.

In total, the equities market recorded a turnover of 3.214 billion shares worth ₦76.348 billion across 64,156 deals. This was lower than the previous week’s 3.794 billion shares valued at ₦119.394 billion exchanged in 89,636 deals.

The financial services sector dominated activity, accounting for 2.313 billion shares valued at ₦52.241 billion in 27,326 deals, representing 71.96 per cent of total volume and 68.43 per cent of total value.

The ICT industry followed with 301.996 million shares worth ₦5.026 billion in 4,137 deals, while the consumer goods sector traded 144.538 million shares valued at ₦5.632 billion in 8,093 deals.

Fidelity Bank Plc, Legend Internet Plc, and Guaranty Trust Holding Company Plc were the most actively traded stocks of the week, jointly accounting for 1.545 billion shares worth ₦34.446 billion in 4,939 deals, nearly half of the market’s total turnover.

Daily trading activity peaked on Wednesday, June 5, with 1.46 billion shares exchanged at a value of ₦33.47 billion. On Tuesday, June 3, the market recorded 622.63 million shares worth ₦16.12 billion, while Monday, June 2 saw 517.95 million shares traded at ₦10.07 billion. Trading on Thursday, June 4, wrapped up with 611.52 million shares worth ₦16.68 billion.

In terms of price movement, 53 equities recorded gains during the week, slightly fewer than the 56 in the previous week. Forty-three equities posted losses, down from 44 the week prior, while 52 remained unchanged.

Leading the gainers’ chart was Oando Plc, which surged by ₦11.65 or 25.77 per cent to close at ₦56.85. It was trailed by LASACO Assurance Plc with a 21.62 per cent gain, and Multiverse Mining and Exploration Plc, which rose by 20.39 per cent. Other notable gainers included Cornerstone Insurance Plc (19.51%) and First HoldCo Plc (17.60%).

On the flip side, Associated Bus Company Plc led the losers, shedding 18.64 per cent to close at ₦2.40. Julius Berger Nigeria Plc dropped ₦18.50 or 13.50 per cent to ₦118.50 after adjusting for dividend payment. Other laggards included Legend Internet Plc (–13.31%), Livestock Feeds Plc (–12.23%), and E-Tranzact International Plc (–11.76%).

In the Exchange Traded Products segment, 46,729 units valued at ₦8.391 million were traded in 89 deals, a decline from 69,078 units worth ₦9.091 million in 126 deals the previous week. The bond market also saw a slowdown, with 17,023 units valued at ₦12.505 million exchanged in 27 deals, significantly lower than the 76,337 units worth ₦75.443 million recorded in 39 deals the week before.

All sectoral indices closed the week in positive territory, except for the ASeM Index, which remained flat.