Good News for Investors as Nigerian Market Soars by N2.44 Trillion in One Week
- The Nigerian Exchange (NGX) closed the week higher, with ICT and banking stocks driving a N2.44 trillion gain
- E-Tranzact International Plc, Cornerstone Insurance Plc, and Access Holdings Plc were the most active stocks
- Ecobank and Industrial & Medical Gases Plc listed new shares, while the Federal Government’s savings bonds and Champion Breweries Plc rights issue boosted market activity.
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and market trends.
The NGX closed last week on a high, with ICT and banking stocks lifting the market by N2.44 trillion.
The All-Share Index (ASI) rose 2.45% to 147,040.08 points, while market capitalization increased 2.67% to N93.722 trillion.
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NGX data shows that Investor activity picked up sharply, with a total of 6.617 billion shares valued at N113.224 billion traded in 109,590 deals during the week, compared with 4.140 billion shares worth N115.889 billion exchanged in 102,351 deals the previous week.
Market Performance Snapshot
The ICT sector dominated trading, with 3.5 billion shares valued at N17.759 billion changing hands across 11,184 deals, accounting for 52.89% of total volume and 15.68% of value. The financial services sector came next, recording 2.625 billion shares worth N50.188 billion in 42,574 transactions, while the services sector saw 104.524 million shares valued at N1.166 billion traded in 7,255 deals.
Trading in the three most active stock,E-Tranzact International Plc, Cornerstone Insurance Plc, and Access Holdings Pl accounted for 4.871 billion shares valued at N27.422 billion across 6,438 deals, representing 73.60% of total turnover by volume and 24.22% of turnover value.
Punch reports that Market breadth was positive, with 55 equities appreciating during the week, up from 38 the previous week. 29 equities declined, down from 36 previously, while 63 stocks remained unchanged, compared with 73 in the prior week.
Sectoral indices were largely firmer: the industrial goods index led gains with a 7.38% rise, while the premium index jumped 5.50%.
Conversely, the Oil & Gas and commodity indices fell by 0.57% and 0.30%, respectively.
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Corporate and government listings
- Ecobank: listed 5,381,656,222 ordinary shares, raising total to 23,731,207,437
- Industrial & Medical Gases Plc: 181,621,214 shares added, total now 731,064,226
- Federal Government Savings Bonds: FGS202702 (N958.416 million, two-year), FGS202803 (N2.874664 billion, three-year)
- Champion Breweries Plc rights issue: 994,221,766 shares at N16 each; closes January 5, 2026
Only 4% of nigerians invest in stocks
Earlier, Legit.ng reported that Nigeria’s cryptocurrency sector has seen remarkable activity, with transactions valued at $50 billion between July 2023 and June 2024, according to the Securities and Exchange Commission (SEC).
In a statement issued on Sunday, Emomotimi Agama, the SEC’s Director-General, highlighted that the level of trading in digital assets contrasts sharply with Nigeria’s traditional capital market, where fewer than 4% of adults are active investors.
Agama noted that the growing cryptocurrency trade reflects the sophistication and risk appetite of many Nigerians, qualities that have not yet translated into traditional investment channels.
Source: Legit.ng
