The Nigerian equities market maintained its bullish momentum last week as the Nigerian Exchange Limited recorded a total gain of N1.43tn, driven largely by renewed investor interest in the banking sector, particularly in Zenith Bank Plc, Access Holdings Plc, and Fidelity Bank Plc.
According to the NGX weekly market report, the All-Share Index rose by 1.57 per cent, closing at 119,995.76 points, up from 118,138.79 points recorded in the previous week. Likewise, the market capitalisation appreciated by 1.92 per cent, rising from N74.528tn to N75.962tn, indicating a total value gain of N1.43tn within the five-day trading period.
A total turnover of 3.903 billion shares worth N102.221bn in 114,484 deals was traded by investors on the floor of the Exchange last week. This was in contrast to a total of 3.566 billion shares valued at N115.403bn exchanged in 99,960 deals in the previous week.
The financial services industry, measured by volume, led the activity chart with 2.030 billion shares valued at N41.934bn traded in 42,959 deals, contributing 52.02 per cent and 41.02 per cent to the total equity turnover volume and value, respectively.
The services industry followed with 396.590 million shares worth N4.596bn in 8,105 deals, while the agriculture industry placed third with 385.704 million shares worth N14.469bn traded in 10,515 deals.
Trading in the top three equities, Fidelity Bank Plc, Access Holdings Plc, and Zenith Bank Plc, measured by volume, accounted for 864.681 million shares worth N25.955bn in 15,136 deals. These three stocks contributed 22.16 per cent and 25.39 per cent to the total equity turnover volume and value, respectively, reflecting the strong investor appetite for banking stocks.
The market also witnessed improved activity in the Exchange Traded Products segment. A total of 71,070 units valued at N50.203m were traded in 220 deals, compared to 31,960 units valued at N5.800m traded in 144 deals the previous week.
Similarly, the bonds segment of the market recorded a total of 143,857 units valued at N134.173m traded in 44 deals, up from 106,836 units worth N104.905m in 58 deals a week earlier.
The market breadth was strongly positive as 78 equities appreciated in price, higher than the 55 gainers recorded in the previous week. Twenty-seven equities depreciated in price, down from 42 the previous week, while 43 equities remained unchanged, lower than 51 recorded a week earlier.
However, the Oil and Gas Index was the only sectoral index to decline, falling by 2.23 per cent during the week, as investors took profit in select energy stocks. All other sectoral indices ended the week in green territory, reflecting broad-based bullish sentiment.
In addition, the market witnessed a notable listing during the week. The TSL SPV Plc’s N5bn 21 per cent Series 1 Senior Guaranteed Fixed Rate Infrastructure Bonds due 2035 under its N50bn bond issuance programme were officially listed on Wednesday, 25 June 2025.
The PUNCH reported that the Nigerian Exchange recorded an upswing last week, as the market capitalisation appreciated by N1.875tn, driven by strong buying interest in key banking stocks, including Zenith Bank Plc, Access Holdings Plc, and Champion Breweries Plc.
