The Nigerian Exchange Limited gained N966bn in market capitalisation, buoyed by improved investor sentiment and positive movements in key banking and consumer goods stocks.
The market opened for four trading days following the Easter celebrations, after the Federal Government declared Friday, April 18, and Monday, April 21, 2025, as public holidays.
At the close of trading activities on Friday, the All-Share Index rose by 1.46 per cent to close at 105,752.61 points, while market capitalisation appreciated by 1.47 per cent to settle at N66.465tn, compared to N65.499tn recorded at the end of the previous week.
Market turnover also strengthened, with investors exchanging a total of 1.854 billion shares valued at N56.025bn in 51,386 deals, higher than the 1.525 billion shares worth N43.006bn that exchanged hands the previous week in 51,156 deals.
The sectoral performance showed that the financial services sector maintained its dominance, accounting for 68.28 per cent and 52.48 per cent of the total equity turnover volume and value, respectively. The sector recorded 1.266 billion shares valued at N29.4bn in 24,351 deals.
The information and communication technology sector followed with 136.707 million shares worth N12.472bn in 2,974 deals, while the consumer goods sector placed third with a turnover of 118.617 million shares valued at N4.415bn in 5,869 deals.
Notably, Fidelity Bank Plc, Access Holdings Plc, and Guaranty Trust Holding Company Plc witnessed the highest equities trading, which contributed significantly to market activity, accounting for 797.873 million shares valued at N22.043bn in 8,618 deals. This represents 43.03 per cent and 39.34 per cent of the total equity turnover volume and value, respectively, highlighting the sustained investor appetite for banking stocks.
A review of the market performance further revealed that investor sentiment remained positive, as 64 equities appreciated in price during the week, higher than the 31 equities recorded in the previous week. On the other hand, 27 equities depreciated, lower than 44 in the previous week, while 57 equities remained unchanged, compared to 72 recorded the prior week.
Among the top gainers, International Breweries Plc led with a 40 per cent appreciation, closing at N7.70 from an opening price of N5.50. Nascon Allied Industries Plc followed with a gain of 26.22 per cent to close at N52.95, while Africa Prudential Plc recorded a 25.64 per cent rise, closing at N17.15. Other notable gainers included Vitafoam Nigeria Plc, which gained 21.22 per cent to close at N44.85, and Ikeja Hotel Plc, which rose by 21 per cent to settle at N12.10.
Conversely, the losers’ chart was led by VFD Group Plc, which declined sharply by 82.19 per cent to close at N17.10, from N96.00 recorded at the beginning of the week, following the announcement of a bonus issuance and dividend. John Holt Plc trailed with an 18.60 per cent decline, while Dangote Cement Plc dropped by 10 per cent to close at N432.00, weighed down by profit-taking activities. Other notable decliners included Triple Gee and Company Plc and Haldane McCall Plc, posting losses close to 10 per cent.
In the exchange-traded funds market, 442,959 units valued at N22.567m were traded in 59 deals, compared to 19,814 units valued at N3.572m recorded the previous week in 62 deals, reflecting heightened activity in alternative investment assets.
Similarly, in the bond market, a total of 68,561 units valued at N69.173m were traded in 17 deals, compared to a total of 81,759 units valued at N84.283m transacted last week in 27 deals, indicating a slight slowdown in bond trading.
Meanwhile, the Federal Government of Nigeria successfully listed additional units of its existing bonds on the NGX during the week. According to the Exchange, additional units of the March 2025 issue were listed on Friday, April 25, 2025. Specifically, 95.99 million additional units of the 19.30 per cent FGN April 2029 bond were listed, bringing the total units outstanding to 864.509 million. Similarly, 327.69 million additional units of the 19.89 per cent FGN May 2033 bond were listed, raising its outstanding units to 1.767 billion.
The PUNCH reported that the Nigerian Stock Exchange market capitalisation rose by N318bn after resuming trading following the Easter break.
