The Nigerian equities market extended its rally for a second consecutive week, driven by bargain hunting in bellwether stocks including MTN Nigeria Communications Plc (+14.3%), Dangote Cement Plc (+6.8%), Seplat Energy Plc (+14.0%), Nestle Nigeria Plc (+21.0%), Lafarge Africa Plc (+12.9%), Guaranty Trust Holding Company Plc (+11.7%), and Aradel Holdings Plc (+10.8%).
The NGX All-Share Index and Market Capitalisation rose by 6.16% to close the week at 182,313.08 and ₦117.027 trillion, respectively. Consequently, month-to-date (MTD) and year-to-date (YTD) returns improved to +10.1% and +17.0%, respectively.
All other indices finished higher, except the NGX Sovereign Bond Index, which depreciated by 0.01%.
During the week, 79 equities appreciated, up from 71 last week, while 27 equities depreciated, down from 35. 42 equities remained unchanged, consistent with the previous week.
Market participation strengthened, with total trading volume and value increasing by 26.4% and 49.6% week-on-week, respectively. Investors traded 4.652 billion shares worth ₦193.326 billion in 286,751 deals, compared with 3.860 billion shares valued at ₦128.581 billion in 240,463 deals the previous week.
Sectoral performance was broadly positive. Gains were recorded across:
•Oil & Gas: +11.4%
•Industrial Goods: +7.1%
•Banking: +5.8%
•Consumer Goods: +3.0%
•Insurance: +0.4%
The Financial Services Industry led market activity by volume, with 2.782 billion shares valued at ₦74.063 billion traded in 104,325 deals, contributing 59.81% to total equity turnover volume and 38.31% to total equity turnover value. The Services Industry followed with 573.189 million shares worth ₦7.177 billion in 28,784 deals, while the Consumer Goods Industry recorded 317.667 million shares worth ₦24.027 billion in 33,280 deals.
Trading in the top three equities by volume – Deap Capital Management & Trust Plc, Access Holdings Plc, and Zenith Bank Plc – accounted for 980.253 million shares worth ₦30.182 billion in 25,390 deals, contributing 21.07% and 15.61% to total equity turnover volume and value.
ETPs:
A total of 8.741 million units valued at ₦1.544 billion were traded in 7,784 deals, up from 2.421 million units valued at ₦438.466 million in 3,084 deals the previous week.
Bonds:
Trading in bonds declined, with 163,354 units valued at ₦164.253 million transacted in 47 deals, compared with 449,548 units worth ₦476.435 million in 58 deals last week.