The Nigerian equities market sustained its upward momentum last week, with investors recording gains of N1.359 trillion as strong institutional buying in large-cap and fundamentally sound stocks continued to lift the benchmark index and market capitalisation on the Nigerian Exchange Limited (NGX).
Market capitalisation rose from N129.806 trillion to N131.165 trillion, while the All-Share Index (ASI) appreciated by 1.03% to close at 203,770.43 points from 201,698.89 points the previous week.
Trading activity increased noticeably, with a total turnover of 3.361 billion shares valued at N151.948 billion executed in 229,442 deals compared with 2.856 billion shares worth N113.597 billion traded in 215,287 deals the week before.
The Financial Services sector dominated activity by volume, accounting for 2.303 billion shares valued at N90.467 billion, representing 68.54% of total equity turnover volume and 59.54% of value. The Services and ICT industries followed in second and third positions respectively.
The performance reflects sustained liquidity inflows into key sectors, particularly banking, consumer goods, and industrials, as investors continue to favour fundamentally resilient stocks amid improving macroeconomic signals.
From a broader perspective, developments in the global oil market remain influential. Concerns over the durability of the recent ceasefire and restrictions on supply flows through the Strait of Hormuz have sustained a risk premium in energy markets. For Nigeria, relatively strong oil prices continue to provide a supportive backdrop for fiscal stability, external reserves, and sentiment toward oil-linked equities.
Analysts at InvestData Consulting Limited noted that market direction in the coming weeks will likely be shaped by a mix of domestic and global factors, including interest rate expectations, inflation trends, corporate earnings releases, and oil market developments.
“Investors are therefore advised to maintain a disciplined and selective approach, focusing on stocks with strong fundamentals, consistent earnings growth, and favourable technical setups,” the firm said in its weekly review.
The sustained bullish performance last week reinforces the positive momentum observed in the Nigerian stock market so far in 2026, with the All-Share Index maintaining its position well above the 200,000-point level. Market participants will be watching closely for corporate earnings reports and any fresh policy signals that could influence the near-term trajectory.
