…Focus remains on high-liquidity stocks like UBA, which continue to attract investor interest
…The NASD Over-the-Counter (NSI) market continued its positive streak, rising modestly by 0.10% to close at 3,248.0 points
SAT MAY 31 2025-theGBJournal| The Nigerian equities market closed the week in green Friday, lifted by strong interest in AIRTELAFRI (+10.0%) as investors reacted positively to the ongoing USD10.00 million share buy-back programme.
Through the week, the benchmark NGX All-Share Index (NGXASI) showed steady growth, rising from 109,028.62 points on May 23 to 111,742.01 points on May 30, marking a solid 2.49% increase WTD.
This reflects positive investor sentiment despite a slight dip on the final trading day.
Sector-wise, consumer goods led WTD gains with a 3.78% rise, followed by banking (0.66%), insurance (1.02%), and industrials (0.35%). Oil and Gas remained the laggard, falling 2.05% WTD, indicating sector-specific challenges.
On the last trading session of the week, the market turned slightly bearish, with the NGXASI declining by 0.07% to close at 111,742.01 points.
Market capitalisation shrank marginally by N47.97 million to N70.46 trillion. Despite this, the month closed positively with a 5.65% gain, signalling overall strength in the market.
Trading volumes and value surged notably on the final day, with volume jumping 241.61% and transaction value up 273.64%.
This spike was largely driven by concentrated activity in UBA, which dominated the volume chart for the second straight session, accounting for 74.43% of total market volume by trading 1.41 billion units, highlighting focused investor interest in select stocks despite broader market weakness.
Sectoral indices all posted declines on the day, led by Oil and Gas, down 0.90%, pressured by heavy losses in CONOIL (-9.99%), JAPAULGOLD (-2.50%), and OANDO (-5.83%).
Consumer goods and insurance sectors also weakened by 0.49% and 0.41%, respectively, driven by key stock declines.
Banking dipped 0.36% despite gains in ZENITHBANK (+1.03%) and ETI (+4.82%), weighed down by losses in STERLINGNG, FIRSTHOLDCO, and GTCO. Market breadth softened to 0.73x, and the Up/Down ratio fell to 1.67, signalling mild bearish sentiment.
While the overall market showed resilience with strong monthly gains and increased trading activity, the closing session’s decline and sector-wide losses reflect cautious investor sentiment.
Focus remains on high-liquidity stocks like UBA, which continue to attract investor interest. Going forward, sustaining the positive momentum will depend on broader sector recovery and investor confidence, particularly in Oil & Gas and Consumer Goods sectors.
Meanwhile, the NASD Over-the-Counter (NSI) market continued its positive streak, rising modestly by 0.10% to close at 3,248.0 points.
This brought the week-to-date gain to a solid 1.86%, supported by notable price increases in SDAFRILAND and SDGEFLUID, both up 10%.
Market capitalization also grew by 0.10% to N1.9 trillion, reflecting steady investor confidence in the OTC space.
Despite the price gains, trading activity sharply declined on the final session, with volume down 92.76%, value of transactions dropping 86.04%, and the number of trades falling 47.37%.
This indicates lower liquidity and reduced market participation despite positive price movements, suggesting cautious investor behaviour or a concentration of trading in fewer, larger transactions.
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