Equities on the Nigerian Exchange continued their upward momentum in the holiday-shortened trading week, with market capitalisation rising by N578bn as renewed buying interest across key sectors lifted major indices.

At the close of the latest trading session, total market capitalisation stood at N97.8tn, reflecting sustained investor confidence despite fewer trading days during the week. The positive performance was driven largely by gains in banking, consumer goods, and premium stocks.

Trading activity improved significantly compared to the previous session, as a total of 677.43 million shares, valued at N20.78bn, were exchanged in 27,576 deals. This represented a 50 per cent increase in traded volume and a 60 per cent rise in turnover. However, the number of deals declined by 17 per cent, suggesting larger ticket transactions dominated market activity.

In all, 128 listed equities participated in trading, with market breadth closing positive as 29 stocks recorded price appreciation against 27 losers.

Aluminium Extrusion Industries topped the gainers’ chart, appreciating by 9.96 per cent to close at N14.90 per share. Austin Laz and Company followed closely with a gain of 9.81 per cent to N2.91, while Custodian and Allied Insurance rose by 9.69 per cent to N38.50. First HoldCo also posted strong gains, advancing by 9.35 per cent to close at N50.30.

On the losers’ side, Royal Exchange recorded the highest decline, shedding 7.22 per cent to close at N1.80 per share. Champion Breweries fell by 6.57 per cent to N15.65, while National Salt Company declined by 5.36 per cent to N105.05. Sovereign Trust Insurance also ended the session lower, losing 5.28 per cent to close at N3.77.

VFD Group emerged as the most actively traded stock by volume, with 191.97 million shares exchanged during the session. This was followed by Guaranty Trust Holding Company, which recorded 63.45 million shares traded, Access Holdings with 49.77 million shares, and First HoldCo with 45.81 million shares.

In value terms, Guaranty Trust Holding Company led the market, with trades valued at N5.59bn. First HoldCo followed with transactions worth N2.25bn, while VFD Group recorded N2.07bn in value traded. Aradel Holdings and Zenith Bank also featured among the top value drivers of the session.

The Index rose by 895.04 points, or 0.59 per cent, to close at 153,354.11. This performance translated to a one-week gain of 2.61 per cent, a four-week gain of 6.67 per cent, and a year-to-date return of 48.99 per cent, underscoring the strength of the ongoing market rally.

Sectoral indices closed broadly positive. The Consumer Goods Index recorded one of the strongest performances, rising by 1.3 per cent and extending its year-to-date gain to 119.12 per cent. The Banking Index advanced by 1.23 per cent, bringing its year-to-date return to 36.55 per cent. The Premium Index rose by 0.61 per cent, while the Pension Index gained 0.57 per cent. The Top 30 Index and the Main Board Index also closed higher, reflecting broad-based market strength.

Market analysts attributed the sustained rally to continued bargain hunting, strong earnings expectations, and portfolio rebalancing ahead of year-end, particularly by institutional investors. They noted that despite the shortened trading week due to the holiday, investor sentiment remained upbeat, supported by robust liquidity and sector rotation into fundamentally strong stocks.

With equities maintaining positive momentum, market watchers expect trading to remain active in the near term, as investors position for dividend-paying stocks and assess macroeconomic developments ahead of the new year.