Kayode Tokede

The equities section of the Nigerian Exchange Limited (NGX) closed trading activities last week at 155,645.05 basis points to hit a 52-week high fuelled by investors demand for fundamental stocks.   

The NGX All-Share Index last week eached   52-week high at 155,645.05 basis points, up 4.48 per cent week-on-week (WoW) from 148,977.64 basis points it opened for trading. 

Similarly, market capitalisation rose by N4.23 trillion to close the week at N98.793 trillion, bringing the month-to-date  and year-to-date return to 9.1 per cent and  51.22 per cent,  respectively.

The upbeat sentiment was driven by a strong start to the third quarter (Q3) earnings season and heightened investor optimism ahead of additional results expected in the coming week.

Notable stocks that appreciated include:Aradel Holdings Plc (+25.2per cent), Dangote Cement Plc (+10.8per cent), MTN Nigeria Communications Plc(+8.6per cent), BUA Foods Plc (+6.5per cent), BUA Cement Plc (+12.5per cent), and Lafarge Africa Plc (+seven per cent.)

Sector performance was mixed as the Industrial Goods (+10.6per cent), Oil & Gas (+9.1per cent), and Consumer Goods (+3.9per cent) posted gains, while the Banking (-1.2per cent) and Insurance (-1.1per cent) indices declined.

Despite the overall positive sentiment, market breadth closed negative with 44 gainers against 49 losers. Aso Savings and Loans led the gainers table by 32.00 per cent to close at 66 kobo, per share. Aradel Holdings followed with a gain of 25.20 per cent to close at N790.00, while Eunisell Interlinked went up by 19.73 per cent to close to N57.95, per share.

On the other side, Livingtrust Mortgage Bank led the decliners table by 10.89 per cent to close at N4.01, per share. Juli followed with a loss of 9.94 per cent to close at N8.06, while R T Briscoe declined by 9.84 per cent to close at N3.30, per share.

Overall, a total turnover of 3.695 billion shares worth N129.889 billion in 148,077 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 2.422 billion shares valued at N76.618 billion that exchanged hands previous week in 126,591 deals.

Analysts predicted a strong closing for the Nigerian stock market this week, driven by ongoing economic reforms, improved investor sentiment, and positive earnings momentum.

The market rally was fueled by renewed buying interest in mid- and large-cap blue-chip stocks as well as strategic sectoral reallocation by investors on the back of strong fundamentals. This was further propelled by the flurry of impressive nine-months earnings scorecards published by corporates to rouse positive sentiments across counters

Commenting, analysts at Cordros Research stated, “Looking ahead, we expect the bullish momentum to persist into the coming week as investors digest a fresh wave of corporate earnings, with sentiment largely skewed toward positive surprises.”

On market outlook for this week, analysts at Cowry Assets Management Limited said, “we expect the market to trade on a positive note as investors react to the ongoing release of Q3 2025 corporate earnings and dividend declarations. Strong results from bellwether companies and improved liquidity conditions are likely to sustain buying interest across major sectors as fundamentals improve.

“However, bouts of profit-taking and portfolio rebalancing may introduce slight volatility, particularly in the banking space as investors rebalance their portfolios in line with current reality and expectations. However, we continue to advise investors to take positions in stocks with strong fundamentals and earnings growth.”