SAT MAY 10 2025-theGBJournal| Gains were broad-based this week on the Nigerian equities market. Strong corporate earnings soothed sentiments.
Buying interest in market large caps proved a sweet deal throughout the week also.
MTNN, the big telecoms company enjoyed a +11.7% lift. GTCO (+7.9%), DANGCEM (+1.9%), NESTLE (+10.0%), and TRANSCOHOT (+5.9%) were all lifted by the close of trade on Friday.
The All-Share Index (ASI) and market capitalization, advanced 2.5% w/w to 108,733.40 points and N68.339 trillion respectively, pushing month-to-date and year-to-date returns to +2.8% and +5.6%, respectively.
Similarly, all other indices finished higher with the exception NGX MERI Growth Index which depreciated by 0.15% while the NGX ASeM closed flat.
Market activity was robust, with trading volume and value increasing by 20.7% and 2.5%, w/w, respectively.
Sectoral performance mirrored the positive market sentiment, as the Consumer Goods (+5.4%), Oil & Gas (+4.0%), Banking (+3.1%), Industrial Goods (+1.1%), and Insurance (+1.0%) indices all closed the week higher.
Trading in the top three equities namely Guaranty Trust Holding Company Plc, Access Holdings Plc and Tantalizer Plc (measured by volume) accounted for 839.689 million shares worth N27.737 billion in 8,898 deals, contributing 31.74% and 36.02% to the total equity turnover volume and value respectively
The NASD OTC market also saw an upward trend this week with NSI and market capitalization gaining 46bps.
Trade volume also increased by 2629.37% to close at 8.48m units and total value traded higher by 3751.96% to close at N15.74m signaling strong participation from investors.
The 256.25% increase in trade count suggests strong liquidity and sentiment in the market.
The day’s negative performance was primarily driven by sharp sell-offs in SDGEFLUID (-6.08%), SDCSCSPLC (-5.66%), and SDFCWAMCO (-2.50%), all of which are traditionally viewed as relatively stable plays.
Their decline signals a broad rebalancing by investors amid tightening liquidity or shifting valuation outlook.
MTNN, the big telecoms company enjoyed a +11.7% lift. GTCO (+7.9%), DANGCEM (+1.9%), NESTLE (+10.0%), and TRANSCOHOT (+5.9%) were all lifted by the close of trade on Friday
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