…All other indices finished higher with the exception of NGX Oil/Gas and NGX Commodity Indices which depreciated by 1.65% and 0.76% respectively while the NGX AseM index closed flat.
…Market capitalization reached N66.26 trillion. The upward trend reflects sudden investor confidence despite mixed sectoral performance.
SAT MARCH 29 2025-theGBJournal| The Nigerian equities market closed out the week in green, snapping a four-week losing streak, as renewed buying interest in banking stocks lifted the All-Share Index by 0.7% w/w to 105,660.64 points.
All other indices finished higher with the exception of NGX Oil/Gas and NGX Commodity Indices which depreciated by 1.65% and 0.76% respectively while the NGX AseM index closed flat.
Market capitalization reached N66.26 trillion. The upward trend reflects sudden investor confidence despite mixed sectoral performance.
The market’s positive performance was driven by gains in GTCO (+18.2%) and ZENITHBANK (+3.1%) following the release of the respective companies’ 2024 full-year audited financial statements and accompanying dividend announcements.
Consequently, month-to-date and year-to-date returns settled at -2.0% and +2.7%, respectively. Furthermore, trading activity was robust, as both volume and value increased by 161.5% w/w and 743.1% w/w, respectively.
Meanwhile, sectoral performance was mixed, as the Banking (+5.6%), Insurance (+1.9%), and Consumer Goods (+0.3%) indices advanced, while the Oil & Gas (-1.7%) index declined. The Industrial Goods index closed flat.
Abbey Mortgage Bank (ABBEYBDS) and UPDC surged 10% each, leading daily gainers, followed by NNFM (+9.96%), MBENEFIT (+9.38%), and ROYALEX (+8.25%), highlighting investor interest in financial and consumer-focused stocks.
The 14-day RSI at 46.45 suggests neutral momentum, while the 7-day MA (105,361.22) below the 20-day (105,939.48) and 50-day (105,995.98) moving averages hints at near-term resistance, warranting cautious optimism.
Meanwhile, the NASD OTC Securities Exchange saw a slight daily uptick, with the NSI and market capitalization rising by 0.17%, reversing part of the week’s 1.26% loss.
However, market liquidity remains volatile, evidenced by a 76.84% surge in volume but a 71.23% drop in value, indicating a shift towards lower-value transactions.
Investor sentiment favored select stocks, as NIPCO Plc (SDNIPCOPLC) surged 9.73% to N220, while GEFLUID Plc (SDGEFLUID) climbed 8% to N2.70, outpacing broader market performance. Despite these gains, overall trading activity weakened, with transactions declining 76.09%, reflecting cautious market participation.
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