Equities on Nigeria’s stock exchange extended their rally in a holiday-shortened trading week, with market capitalisation rising by 578 billion naira (US$630 million) as renewed buying interest lifted key sectors, market data showed.
Total market capitalisation climbed to 97.8 trillion naira by the close of the latest session, underscoring strong investor sentiment despite fewer trading days. Gains were driven largely by banking, consumer goods and premium stocks, analysts said.
The benchmark All-Share Index rose 895.04 points, or 0.59 percent, to close at 153,354.11. That translated into a weekly gain of 2.61 percent, a four-week gain of 6.67 percent and a year-to-date return of nearly 49 percent, highlighting the strength of the ongoing rally.
Trading activity picked up sharply from the previous session, with 677.43 million shares worth 20.78 billion naira changing hands in 27,576 deals. Traded volume rose 50 percent, while turnover jumped 60 percent, although the number of deals fell 17 percent, suggesting larger-value transactions dominated activity.
Out of 128 listed equities that participated in trading, market breadth was slightly positive, with 29 stocks advancing against 27 decliners.
Aluminium Extrusion Industries led the gainers, rising 9.96 percent to 14.90 naira per share. Austin Laz & Company gained 9.81 percent to 2.91 naira, while Custodian and Allied Insurance advanced 9.69 percent to 38.50 naira. First HoldCo also posted strong gains, climbing 9.35 percent to close at 50.30 naira.
On the losing side, Royal Exchange dropped 7.22 percent to 1.80 naira (0.0012) . Champion Breweries slid 6.57 percent to 15.65 naira (0.011), while National Salt Company fell 5.36 percent to 105.05 naira (US0.072). Sovereign Trust Insurance also ended lower, shedding 5.28 percent to 3.77 naira (US$0.0026).
VFD Group emerged as the most actively traded stock by volume, with nearly 192 million shares exchanged. It was followed by Guaranty Trust Holding Company with 63.45 million shares, Access Holdings with 49.77 million, and First HoldCo with 45.81 million shares.
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By value, Guaranty Trust Holding Company topped the chart, accounting for trades worth 5.59 billion naira. First HoldCo followed with 2.25 billion naira, while VFD Group recorded 2.07 billion naira in value traded. Aradel Holdings and Zenith Bank also ranked among the session’s top value drivers.
Sectoral indices closed broadly higher. The consumer goods index rose 1.3 percent, extending its year-to-date gain to more than 119 percent. The banking index advanced 1.23 percent, bringing its year-to-date return to 36.55 percent. The premium, pension, top-30 and main board indices also ended in positive territory.
Analysts attributed the sustained rally to bargain hunting, strong earnings expectations and portfolio rebalancing ahead of year-end, particularly by institutional investors.
“Despite the shortened trading week, sentiment remained upbeat, supported by ample liquidity and rotation into fundamentally strong stocks,” one market analyst said.
With equities maintaining positive momentum, analysts expect trading to remain active in the near term as investors position for dividend-paying stocks and assess macroeconomic signals heading into the new year.
