Equities market closes week bullish as market cap settles at N72.3trn

The Nigerian stock market extended its winning streak for the fourth consecutive day, closing the week on a high note.

On Thursday, the All Share Index (ASI) surged by 1,835.02 basis points to close at 114,616.75, marking a 1.63 per cent gain. The ASI increase drove a marginal rise in Market Capitalisation, which closed at ₦72.275 trillion, with investors’ wealth rising by ₦1.157 billion.

Similarly, the volume of traded shares surged by 139.05 per cent to 1,461,852,520 units, up from 611,527,369 units, while the value of traded shares soared by 100.68 per cent to close at ₦33,473,977,007.19, compared to ₦16,680,438,206.42 the previous day.

The Nigerian equities market maintained its positive momentum throughout the week, recording gains in all four trading sessions and commencing the month of June on a strong footing. The market operated for four trading days this week due to the Federal Government’s declaration of Friday, 6 June 2025, and Monday, 9 June 2025, as public holidays to commemorate the 2025 Eid-el-Kabir celebrations.

For the week, the ASI advanced by 2.6 per cent to 114,595.72 points, driven by buying interest in MTN Nigeria Communications, Dangote Cement, First Holdings Company, Oando, and Guaranty Trust Holding Company. Consequently, the year-to-date return rose to +11.3 per cent.

Meanwhile, trading volume and value declined by 15.3 per cent and 36.1 per cent, respectively, on a week-on-week basis, mainly reflecting the holiday-shortened trading period.

Additionally, sectoral performance remained broadly positive, with the Banking, Insurance, Oil & Gas, Consumer Goods, and Industrial Goods indices closing higher by 4.7 per cent, 3.4 per cent, 3.3 per cent, 2.3 per cent, and 1.2 per cent, respectively.

The Financial Services sector, measured by volume, led the activity chart with 2.313 billion shares valued at ₦52.241 billion traded in 27,326 deals, contributing 71.96 per cent and 68.43 per cent to the total equity turnover volume and value, respectively. The ICT industry followed with 301.996 million shares worth ₦5.026 billion in 4,137 deals, while the Consumer Goods industry recorded a turnover of 144.538 million shares valued at ₦5.632 billion in 8,093 deals.

Trading in the top three equities—Fidelity Bank Plc, Legend Internet Plc, and Guaranty Trust Holding Company Plc—accounted for 1.545 billion shares worth ₦34.446 billion in 4,939 deals, contributing 48.06 per cent and 45.12 per cent to the total equity turnover volume and value, respectively.

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