The Nigerian Exchange Limited (NGX) added N966bn in market value last week, helped by improved investor confidence and strong performances by major banking and consumer goods stocks.
The market only opened for four days because of the Easter holidays, following the Federal Government’s declaration of Friday, April 18, and Monday, April 21, 2025, as public holidays.
At the close of trading on Friday, the All-Share Index rose by 1.46 per cent to 105,752.61 points, while market capitalisation appreciated by 1.47 per cent to N66.465tn, up from N65.499tn recorded the previous week.
Market turnover also improved, as investors exchanged 1.854 billion shares worth N56.025bn in 51,386 deals. This was higher than the 1.525 billion shares valued at N43.006bn traded the previous week in 51,156 deals.
A breakdown of sectoral performance showed that the financial services sector maintained its lead, accounting for 68.28 per cent of the total volume and 52.48 per cent of the total value of equities traded. In total, the sector recorded 1.266 billion shares valued at N29.4bn in 24,351 deals.
The ICT sector followed with 136.707 million shares worth N12.472bn in 2,974 deals, while the consumer goods sector came third with 118.617 million shares valued at N4.415bn in 5,869 deals.
Among the most traded stocks were Fidelity Bank Plc, Access Holdings Plc, and Guaranty Trust Holding Company Plc. Together, they recorded 797.873 million shares valued at N22.043bn in 8,618 deals. This represented 43.03 per cent of total turnover volume and 39.34 per cent of the total value, highlighting sustained investor appetite for banking stocks.
A closer look at the market showed positive sentiment, as 64 equities appreciated in price, compared to 31 gainers in the previous week. Meanwhile, 27 equities recorded price declines, fewer than the 44 losers recorded earlier. Also, 57 equities remained unchanged, lower than the 72 equities that stayed flat the previous week.
Among the top gainers, International Breweries Plc led with a 40 per cent rise, closing at N7.70 from N5.50. Nascon Allied Industries Plc followed with a 26.22 per cent gain to N52.95, while Africa Prudential Plc rose by 25.64 per cent to N17.15. Other major gainers included Vitafoam Nigeria Plc, which gained 21.22 per cent to close at N44.85, and Ikeja Hotel Plc, which appreciated by 21 per cent to settle at N12.10.
On the losing side, VFD Group Plc recorded the biggest drop of 82.19 per cent, closing at N17.10 from N96.00. The fall followed the company’s announcement of a bonus issue and dividend. John Holt Plc also fell by 18.60 per cent, while Dangote Cement Plc declined by 10 per cent to close at N432.00 due to profit-taking. Tripple Gee and Company Plc and Haldane McCall Plc also recorded losses of about 10 per cent.
In the Exchange-Traded Funds (ETF) market, a total of 442,959 units valued at N22.567m were traded in 59 deals, compared to 19,814 units valued at N3.572m traded the week before, indicating increased interest in alternative assets.
Meanwhile, bond market activity slowed slightly, with 68,561 units valued at N69.173m traded in 17 deals, lower than the previous week’s 81,759 units valued at N84.283m exchanged in 27 deals.
Also, during the week, the Federal Government successfully listed more units of its existing bonds on the NGX. According to the Exchange, 95.99 million additional units of the 19.30 per cent FGN April 2029 bond were listed, bringing the total units to 864.509 million. Similarly, 327.69 million additional units of the 19.89 per cent FGN May 2033 bond were listed, raising the outstanding amount to 1.767 billion units.
