BREAKING:  Nigerian equities market crosses N160trn mark

As investors’ confidence persists, and companies declare impressive earnings, the equities market section of the Nigerian Exchange Limited (NGX)  on Monday crossed the N160 trillion mark. 

The market capitalization of the NGX gained N1.91 trillion or 1.2 per cent to close on Monday at N160.421 trillion from  N158.513 trillion it closed for trading the previous week.  

Also, the NGX All Share Index  advanced by 2,956.15 basis points or 1.2 per cent from 245,573.60 basis points to close at  248,529.75 basis points on Monday.  

Airtel Africa Plc that gained 8.59 per cent or N498.60 per share to close at  N 6,300.00  per share was the major driver of the market capitalization  N1.91 trillion growth on Monday.  

However, analysts warned that extremely weak market breadth leaves the rally vulnerable, with banking stocks now the sole swing factor. While strong half year (H1) 2026 earnings and recapitalisation activity should support financials, any loss of momentum by the banking heavyweights could trigger a broad market reversal.

Speaking on market outlook for this week, Cordros Securities Limited said, “we expect trading to remain choppy as investors continue to selectively rotate into counters supported by strong earnings momentum, robust cash flow generation and attractive interim dividend prospects.  

Also, Cowry Assets Management Limited expected the Nigerian equities market to remain cautiously optimistic in the coming week as investors continue to position in fundamentally sound stocks ahead of the earnings season.

The Firm however noted that, profit-taking in recently appreciated counters and the mixed performance across sectors could limit the pace of gains.

“Market sentiment is likely to remain driven by corporate earnings releases, dividend expectations, and developments in the macroeconomic environment, particularly movements in interest rates and fixed-income yields. Consequently, we anticipate continued sector rotation, with investors favouring fundamentally strong banking and other quality large-cap stocks, while maintaining a selective,” it added.