The Nigerian All-Share Index ended the trading week of June 27 on a strong note, gaining 1,857.54 points to close at 119,995.76.
This marks a 1.57% increase from the previous week’s close of 118,138.22, driven by a strong rally in heavyweight stocks.
Weekly trading volume also picked up pace, soaring to 3.79 billion shares compared to 3.57 billion shares traded the previous week.
Market capitalization followed suit, rising to N75.9 trillion from N74.5 trillion, reflecting the bullish momentum of the market.
In terms of market breadth, 78 equities appreciated in price, higher than the 55 recorded the previous week.On the flip side, 27 equities declined in price, fewer than the 42 in the prior week.43 stocks remained unchanged.Market overview: The Nigerian stock market opened the week on a positive note, with bullish sentiment picking up pace on Tuesday.
Momentum peaked on Wednesday as the All-Share Index broke through the 120,000 mark, surging by 1,211.2 points.
However, the rally cooled off, with the market closing in the red on Thursday and Friday.
Despite the late-week dip, the index still closed the week strongly net positive.Key highlights: The NGX Premium Index gained 1.77%, powered by a 16.2% surge in ZENITH BANK, along with moderate upticks in WAPCO (+4.53%) and UBA (+2.76%).
Meanwhile, the NGX 30 Index advanced by 1.58%, reflecting broad-based strength.
Also not left behind, the NGX Main Board Index climbed 1.46% over the week, adding to the market’s overall bullish momentum.
Sectoral performance The NGX Industrial Goods Index led the other sectors with a 3.92% surge, driven by a 21% rally in BETA GLASS, alongside solid gains in CHEMICAL & ALLIED PRODUCTS PLC and TRIPLE GEE, both under 10%.Close behind was the Consumer Goods Index, which advanced 3.73%, driven by impressive performances from INTERNATIONAL BREWERIES and CHAMPION BREWERIES, each rising more than 21%.The NGX Insurance Index also had a strong showing, up 3.67%, largely thanks to a 20% jump in GUINEA INSURANCE.Meanwhile, the Banking Index rose by 2.59%, powered primarily by ZENITH BANK’s 16.2% surge.On the flip side, the NGX Oil & Gas Index declined by 2.23%, dragged down by losses in OANDO (-7.3%) and ARADEL (-4.1%).
Top gainers Leading the charge among gainers was NEIMETH INTERNATIONAL PHARMACEUTICALS PLC, which soared 60.54% week-to-date. It was followed by ELLAH LAKES PLC, up 31.33%. Other notable gainers included:
International Breweries Plc: up 26.36%, N13.90CWG Plc: up 25.00%, N11.50Champion Breweries Plc: up 21.95%, N10.00Learn Africa Plc: up 21.72%, N5.10Beta Glass Plc: up 21.00%, N333.95Guinea Insurance Plc: up 20.00%, N0.90Caverton Offshore Support Group Plc: up 19.72%, N5.22John Holt Plc: up 19.35%, N7.40Top losers On the losers’ table, MULTIVERSE MINING AND EXPLORATION PLC led with a 9.33% week-to-date decline, followed by ASSOCIATED BUS COMPANY PLC, down 9.26%. Other notable losers included:
Oando Plc: down 7.38%, N56.50BUA Foods Plc: down 6.46%, N449.00DAAR Communications Plc: down 6.15%, N0.61McNichols Plc: down 4.82%, N2.17Meyer Plc: down 4.69%, N9.15Industrial & Medical Gases Nigeria Plc: down 4.30%, N33.40Aradel Holdings Plc: down 4.15%, N514.50FCMB Group Plc: down 3.55%, N9.50Corporate actions overview This week featured a series of announcements that kept investors engaged:
Industrial & Medical Gases Nigeria Plc received shareholder approval at its AGM to raise N6.5 billion via a rights issue. The company also approved an 80 kobo dividend.Dangote Cement Plc approved a N30 dividend at its Annual General Meeting.Oando Plc released its Q1 2025 financial statements.Triple Gee and Company Plc published its full-year 2024 financial statements.Ellah Lakes Plc announced its intention to pursue a capital raise at a future AGM.Market outlook The Nigerian equities market kicked off the week with a blistering rally, pushing the index firmly above the 120,000 mark as large-cap stocks surged.
If the rallying stocks are not perceived as overbought and momentum continues among key large- and mid-cap names, the index is likely to extend its upward trajectory.
