The Nigerian Exchange (NGX) closed the trading week on a strong note, buoyed by improved investor confidence, strong sectoral performance, and heightened trading activity. On the final trading day, the All-Share Index (ASI) advanced by 1.37 per cent, settling at 126,149.59 points. This upward movement culminated in a robust weekly gain of 4.26 per cent.
Trading activity remained vibrant, with a total of 1.39 billion shares changing hands across 33,399 deals. Market turnover stood at ₦30.55 billion, representing a 9 per cent increase in trading volume and a 10 per cent rise in value compared to the previous session. These figures underscore the growing interest of investors and the broad-based optimism currently permeating the market.
Among the top-performing stocks of the week, FTN Cocoa Processors emerged as the biggest gainer, with its share price surging by 63.40 per cent, from ₦4.59 to ₦7.50. This strong performance reflected robust demand within the consumer goods sector, driven by favourable expectations regarding earnings and prospects.
Red Star Express followed closely with a 60.57 per cent gain, driven by optimism surrounding increased economic activity and supply chain expansion. The courier and logistics company saw its share price climb from ₦8.37 to ₦13.44, signalling a renewed investor appetite for industrial stocks.
Omatek Ventures also posted notable gains, rising 60.44 per cent to close at ₦1.46 from ₦0.91. This increase was attributed to a resurgence of interest in technology stocks amid Nigeria’s push toward digital transformation. Similarly, C & I Leasing, operating in the financial services space, gained 60.33 per cent, reflecting a growing demand for asset financing and a generally positive outlook on the sector.
Meyer Plc, known for its paint and construction-related products, benefited from momentum in the construction industry. Its shares rose by 60.07 per cent, from ₦14.65 to ₦23.45. Thomas Wyatt Nigeria, a player in the basic materials space, also saw its stock climb 59.56 per cent, as investors responded positively to signs of recovery in packaging and printing demand.
Ellah Lakes, an agribusiness firm, stood out as one of the week’s volume leaders with 145 million shares traded, reflecting increasing investor appetite for agricultural stocks amid national food security initiatives. Although full pricing data was unavailable, the high volume suggested strong market interest.
Beyond the top percentage gainers, several major stocks posted consistent double-digit gains, reinforcing the broad-based bullish sentiment across the exchange. United Bank for Africa (UBA) rose from ₦31.64 to ₦34.80, while Beta Glass increased from ₦211.50 to ₦232.65. Okomu Oil Palm, another significant mover, climbed to ₦748.00 from ₦680.00, reflecting confidence in the agriculture sector.
Other stocks that recorded 10 per cent weekly gains included Guinness Nigeria, Cadbury Nigeria, and Dangote Sugar Refinery — all of which benefited from strong half-year financial performances in the consumer goods sector. Additionally, Consolidated Hallmark Holdings, UPDC Plc, Caverton Offshore Support Group, and HMCALL also joined the list of notable risers.
Sector-wise, the banking and insurance industries led the charge, recording weekly gains of 12.49 per cent and 13.83 per cent, respectively. The consumer goods sector also demonstrated strength, bolstered by solid corporate earnings and increasing investor inflows.
In all, the Nigerian equities market finished the week on a high note, with market capitalization climbing to ₦79.8 trillion. The rally reflected growing participation by domestic investors and a broader wave of optimism across key economic sectors.
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