Nigerian stock market records 2.5% gain on Friday
- To close the week, the Nigerian stock market closed with a 2.54% gain in the ASI and market capitalisation to settle at 108,733.40 points and N68.33tn respectively, reinforcing sustained investor interest across earlier sessions, particularly in large-cap names. However, the Friday reversal marked a psychological pause in the recent rally, likely driven by profit-taking.
- Market activity declined in tandem with price action: trading volume dropped 17.12% while value fell 22.18%, signaling a cautious stance by investors ahead of the weekend. The day’s sell-off was concentrated in large and mid-cap financials such as ACCESSCORP (-2.29%) and ZENITHBANK (-0.20%), contributing significantly to the index’s downward move and weighing on the Banking index (-0.01%).
- Market breadth closed negative 0.95-to-1 ratio, as decliners outnumbered the gainers. ABCTRANS led the gainers(+10.00%), and TRANSPOWER led the laggards (-9.98%).
NASD SUMMARY
- The NASD OTC market saw an upward trend this week with NSI and market capitalisation gaining 46bps. Trade volume also increased by 2629.37% to close at 8.48m units and total value traded higher by 3751.96% to close at N15.74m signaling strong participation from investors..
- The 256.25% increase in trade count suggests strong liquidity and sentiment in the market. The day’s negative performance was primarily driven by sharp sell-offs in SDGEFLUID (-6.08%), SDCSCSPLC (-5.66%), and SDFCWAMCO (-2.50%), all of which are traditionally viewed as relatively stable plays. Their decline signals a broad rebalancing by investors amid tightening liquidity or shifting valuation outlook. SOURCE: Coronation Securities Limited
