Nigerian equities closed the week on a bullish note, with investors pocketing ₦1.175 trillion in gains despite a shortened four-day trading window due to the Independence Day holiday.
The Nigerian Exchange Ltd. (NGX) All-Share Index rose by 1.02%, finishing at 143,584.04 points, while market capitalization climbed by 1.31% to ₦91.135 trillion, up from ₦89.960 trillion the previous week.
Market activity also improved as investors traded 8.403 billion shares worth ₦115.501 billion in 115,801 deals, compared to 7.684 billion shares valued at ₦494.126 billion in 116,645 deals the week before.
The Financial Services sector led the chart, accounting for 92.24% of total turnover volume and 76.32% of total value, with 7.750 billion shares worth ₦88.153 billion traded in 54,074 deals. The ICT sector followed with 181 million shares worth ₦4.07 billion, while the Consumer Goods sector recorded 126.6 million shares worth ₦6.27 billion.
Top activity came from Cornerstone Insurance, Fidelity Bank, and UBA, which jointly accounted for 6.53 billion shares worth ₦52.7 billion, representing 77.66% of total turnover volume.
In terms of price movement, 53 stocks gained, up from 32 last week, while 43 declined, fewer than the 51 recorded previously. Eterna (+32.8%), Nigerian Enamelware (+20.94%), PZ Cussons (+20.87%), Livingtrust Mortgage Bank (+18.25%), and Eunisell Interlinked (+17.56%) led the gainers’ table.
On the flip side, Julius Berger (-₦26.60), International Energy Insurance (-₦0.37), Union Dicon Salt (-₦0.90), AXA Mansard (-₦1.60), and University Press (-₦0.59) emerged as the week’s top losers.
Meanwhile, the NGX announced the listing of 14.14 billion additional ordinary shares of Wema Bank Plc following its Rights Issue, bringing the lender’s total issued shares to 35.57 billion units.
