Nigerian Stock Market Records ₦822bn Weekly Gain as Investors Re-enter Equities
Banking, consumer goods and telecom stocks lead rally as market capitalization nears ₦90 trillion.
The Nigerian Exchange (NGX) closed last week on a bullish note, with investors recording a ₦822 billion gain in market capitalization as renewed confidence drove fresh demand for equities.
Data from the Exchange showed that the market capitalization rose to about ₦89.8 trillion, while the All-Share Index (ASI) climbed to roughly 140,665 points, reflecting a week-on-week growth of over 0.9 percent.
Analysts attributed the rally to strong performances in the banking, consumer goods, and telecommunications sectors, where bargain hunting and renewed positioning in oversold stocks boosted prices. Blue-chip companies in these sectors were among the top gainers, lifting overall market sentiment.
“The bullish run is a reflection of bargain hunting and investor appetite for stocks with strong fundamentals,” said analysts at MarketForces Africa. “The improvement in foreign exchange liquidity and clearer monetary policy direction has also supported equities.”
Market breadth remained positive, with more stocks recording gains than losses across the week. According to traders, this signaled a stronger momentum in favor of the bulls, despite intermittent profit-taking.
While the upbeat performance has been welcomed by investors, analysts have cautioned that profit-taking and external shocks could trigger short-term corrections. Nevertheless, the outlook remains positive, with corporate earnings releases and economic reforms expected to further influence investor sentiment.
Financial experts also highlighted that stability in Nigeria’s foreign exchange market, along with government fiscal and monetary policies, will remain critical for sustaining investor confidence in the coming weeks.
Last week’s surge adds to a string of positive sessions on the NGX in recent months, consolidating its position as one of Africa’s most dynamic stock markets in 2025.
Source: Market forces Africa
