Equities market gains 6.95% WoW as analysts predict upward trajectory 

The equities market section of the Nigerian Exchange Limited (NGX) gained 6.95 per cent in its Week-on-Week (WoW) performance last week over expected 2025 corporation filing by listed firms.

Specifically, the NGX All-Share Index advanced 6.95 per cent WoW to close at 194,989.77 basis points. Similarly, the market capitalisation sold by N8.14 trillion to close the week at N125.164 trillion.

Market breadth remained firmly positive, with 71 stocks recording gains against 41 decliners, signaling widespread buying momentum across counters. 

Overall, a total turnover of 7.662 billion shares worth N252.566 billion in 345,118 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 4.652 billion shares valued at N193.326 billion that exchanged hands prior week in 286,751 deals.

The Financial Services Industry led the activity chart with 5.625 billion shares valued at N113.599 billion traded in 129,729 deals: contributing 73.41 per cent and 44.98 per cent to the total equity turnover volume and value respectively.

The Services Industry followed with 493.131 million shares worth N5.866 billion in 30,396 deals, while the Oil and Gas Industry pulled a turnover of 425.657 million shares worth N35.742 billion in 23,136 deals.

Trading in the top equities, namely FCMB Group, Access Holdings and Zenith Bank accounted for 3.594 billion shares worth N69.147 billion in 33,802 deals, contributing 46.90 per cent and 27.38 per cent to the total equity turnover volume and value respectively.

However, analysts have predicted that the equities market is expected to remain broadly positive this week, driven by strong investor confidence and trading activity, but intermittent profit-taking could trigger mild pullbacks.

The market closed last week firmly in positive territory, extending its upward momentum as stronger investor confidence and heightened trading activity pushed prices higher.

This week, Cowry Assets Management Limited said, “market sentiment is expected to remain broadly positive, underpinned by strong investor confidence and heightened trading activity.

“However, following such a sharp weekly advancement, intermittent profit-taking could trigger mild pullbacks. Even so, the underlying tone remains bullish, with investors likely to become more selective and tilt toward fundamentally sound counters as the rally matures. We continue to advise investors to position in fundamentally sound stocks.”

Afrinvest Limited added that “this week, we expect the market dynamics to remain bullish in the absence of any negative triggers while we await the outcome of the MPC meeting.”