The Nigerian Exchange closed last week on a positive note, gaining N1.54tn as the All-Share Index rose by 1.63 per cent despite a decline in trading volume. Financial services stocks dominated activity, followed by ICT and oil and gas, reflecting selective investor interest across key sectors. Analysts said the market’s resilience, supported by strong sector participation and new listings, signalled sustained investor confidence amid mixed performances across indices and equities. TEMITOPE AINA writes.
Investors on the floor of the Nigerian Exchange Limited traded a total of 4.373 billion shares valued at N97.783 bn in 110,736 deals last week, reflecting a slowdown compared with the preceding week when 6.617 billion shares worth N113.224 bn were exchanged in 109,590 deals. Despite the lower volume, the market recorded significant gains, as the All-Share Index and Market Capitalisation appreciated by 1.63 per cent and 1.64 per cent to close the week at 149,433.26 points and N95.264 tn, respectively.
The Financial Services Industry led market activity in terms of volume, accounting for 2.252 billion shares valued at N47.204 bn traded in 44,808 deals. This represented 51.49 per cent of total equity turnover by volume and 48.27 per cent by value. The Information and Communication Technology sector followed with 1.118 billion shares worth N13.148 bn in 10,413 deals, while the Oil & Gas Industry recorded a turnover of 233.891 million shares valued at N4.726 bn in 7,515 deals.
Trading in the top three equities, E-Tranzact International Plc, Access Holdings Plc and FCMB Group Plc, accounted for 1.921 billion shares worth N22.218 bn in 9,558 deals, representing 43.93 per cent and 22.72 per cent of total turnover by volume and value, respectively.
Market breadth closed mixed, with 49 equities appreciating in price, lower than the 55 recorded in the previous week, while 41 equities depreciated, higher than the 29 recorded earlier. Fifty-seven equities remained unchanged, compared with 63 in the preceding week. Most indices closed higher, although the Banking, AFR Div. Yield, MERI Growth, MERI Value, Oil and Gas, Sovereign Bond and Commodity Indices declined by between 0.12 per cent and 2.02 per cent.
In the corporate space, Chapel Hill Denham Management Limited listed an additional 140,100,000 units of its Series 11 Nigeria Infrastructure Debt Fund at N109.50 per unit under its N200 bn Issuance Programme. With the listing on Wednesday, 10 December 2025, total outstanding units of the fund on the NGX increased from 1,056,257,953 to 1,196,357,953 units. Analysts said the expanded fund would enhance investor access to infrastructure-focused instruments and improve liquidity in the fixed-income market.
Market analysts noted that although turnover declined week-on-week, the overall gains point to renewed investor confidence, particularly in the Financial Services and ICT sectors. They added that the rise in the All-Share Index and Market Capitalisation underscores the resilience of the equities market despite mixed sectoral performances.
