The Nigerian equities market maintained its upward momentum last week, delivering N3.837 trillion gains to investors. The NGX Market Capitalisation rose to N103.775 trillion from N99.938 trillion the previous week, while the All Share Index (ASI) climbed 3.7% to 162,298.08 points, pushing year-to-date returns to 4.3%.

Key drivers of the rally included bargain hunting in blue-chip stocks such as MTN Nigeria (+7.6%), Dangote Cement (+4.3%), Seplat (+10%), WAPCO (+11.5%), GTCO (+7.5%), and Presco (+2.8%). Sector performance was broadly positive:

• Insurance Index: +6.8%
• Industrial Goods Index: +5.0%
• Oil & Gas Index: +4.7%
• Banking Index: +3.1%
• Consumer Goods Index: +2.8%

Despite the strong gains, trading activity declined, with volume down 47.2% and value down 30.7% week-on-week.

President Bola Tinubu praised investors, NGX, and corporate Nigeria for propelling the market past the historic N100 trillion mark, calling it a “powerful signal of renewed confidence and economic rejuvenation” and urged greater local participation in the capital market.

SEC Director-General Emomotimi Agama attributed the milestone to the administration’s reforms, transparency, and fiscal discipline. NGX CEO Temi Popoola highlighted that improved macroeconomic coordination and policy clarity drove investor confidence, validating the Exchange’s focus on market development and sustainable growth.