Massive Wins for Investors: Nigerian Stock Market Adds N607 Billion in Just One Week

Investors Reap Big: Nigerian Equities Market Gains N607 Billion in a Week

By Abdulmajeed Abdullateef

The Nigerian Stock Market Shines Bright

The Nigerian equities market ended the week on a bullish note, delivering substantial gains for investors. A renewed interest in major stocks like MTN Nigeria, International Breweries, and First Bank Holdings fueled the rally, leaving market watchers optimistic about the year ahead.

Weekly Market Highlights

The Nigerian Exchange Limited (NGX) saw the All-Share Index (ASI) rise by 0.99% week-on-week, climbing from 101,129.09 points to 102,133.30 points. This impressive growth pushed the year-to-date (YtD) return to 36.59%, with a month-to-date (MtD) return of 4.7%.

Market capitalization also surged, increasing from N61.303 trillion the previous week to N61.9 trillion, a remarkable gain of over N607 billion.

Top Gainers of the Week

Several key players led the market rally:

MTN Nigeria: Recorded a 10.54% week-on-week (WoW) growth.

International Breweries: Achieved an 11.00% WoW increase.

First Bank Holdings (FBNH): Gained 4.85% WoW.

Trading Activity at a Glance

Trading activity surged on Friday after the Boxing Day holiday:

Total Volume: 440.44 million units (up by 6.3%).

Value of Trades: N17.18 billion.

Number of Deals: 12,375 transactions.

UBA emerged as the most traded stock by volume at 51.17 million units, while Dangote Cement led by value with N11.14 billion in trades.

Sectoral Performance: The Hits and Misses

Winners:

Insurance Index gained 2.3%.

Consumer Goods Index rose by 0.2%.

Losers:

Banking Index dropped by 1.2%.

Oil & Gas Index declined by 0.2%.

Flat Performer: Industrial Goods Index remained steady.

Analysts Share Positive Outlook

Experts believe the bullish momentum will likely continue, supported by strategic portfolio rebalancing by investors. According to market analysts, the current trend signals increased confidence in the equities market, offering opportunities for both short-term gains and long-term investments.

Closing the Year on a High Note

As the year draws to an end, the Nigerian stock market showcases resilience and potential, setting the stage for an exciting 2025 for investors. Stay tuned for more financial insights only on NIGPOST!