Oil and gas equities led the rally on the Nigerian Exchange after the sector posted a strong 17.6 percent gain, helping lift total market value by about N8.7 trillion in a week of heavy investor activity.
The advance was powered by sharp price increases in major counters, including Aradel, Japaul Gold, and Seplat.
Banking shares also delivered an impressive performance, rising 11.9 percent as investors increased positions in ETI, Stanbic IBTC, and FirstHoldco.
Consumer goods stocks joined the uptrend with a 7.8 percent gain, supported by buying interest in Uniondicon and Guinness, while industrial goods recorded modest growth. Insurance was the only sector to close slightly lower after mild sell pressure in selected stocks.
The benchmark All Share Index climbed 6.56 percent to close at 217,131.54 points, while market capitalization rose to N139.83 trillion. The latest jump marks a stronger performance compared with the previous week and further boosts the market’s year-to-date return.
The News Chronicle understands that trading activity remained strong throughout the week, with investors exchanging 3.59 billion shares worth N195.69 billion across more than 255,000 deals, underscoring sustained confidence in equities despite broader economic uncertainties.
Market analysts say momentum could continue in the near term, supported by liquidity inflows, positive sentiment, and firm oil prices. However, they also warned that profit taking and mixed macroeconomic signals may slow the pace of gains.
Investors are being advised to focus on fundamentally strong companies with solid earnings prospects and dividend appeal as the market enters another crucial trading week.
