The Nigerian equities market closed the trading week on a bullish note as investors gained ₦3.35 trillion, driven by strong buying interest in cement, telecoms and consumer goods stocks.
Data from the Nigerian Exchange showed that the NGX All-Share Index (ASI) rose by 2.27 per cent week-on-week to close at 250,330.92 basis points, while market capitalisation increased to ₦160.44 trillion. The market’s year-to-date return also strengthened to 60.87 per cent.
The rally was largely supported by gains recorded in heavyweight stocks, including Dangote Cement Plc, which advanced by 8.46 per cent week-on-week, MTN Nigeria Communications Plc with a 2.36 per cent gain, BUA Cement Plc which appreciated by 1.66 per cent, and Unilever Nigeria Plc which surged by 21.43 per cent.
Sectoral performance was broadly positive during the week, led by the NGX Industrial Index which gained 4.66 per cent. The NGX Consumer Goods Index followed with a 2.87 per cent increase, while the NGX Banking and NGX Insurance indices rose by 2.82 per cent and 2.74 per cent respectively.
However, the NGX Oil and Gas Index closed lower, declining by 1.19 per cent week-on-week amid profit-taking activities in selected energy stocks.
