Stock Market Gains N4.57trn In 1 Week On Strong Investor Demand

The Nigerian equities market closed the week on a positive note with a gain of N4.57 trillion, driven by renewed demand across selected counters.

The benchmark NGX All-Share Index (ASI) rose by 2.78 per cent week-on-week (W-o-W) to close at 249,804.56 points, while market capitalisation increased by N4.57 trillion to close the week by N162.157 trillion. Accordingly, the market’s year-to-date (YTD) return surged to 60.53 per cent.

Market breadth remained firmly positive during the week, with 61 gainers against 39 losers. The strong breadth reflected improved investor sentiment, as advancing stocks significantly outnumbered declining counters. Sovereign Trust Insurance led the gainers table by 30.95 per cent to close at N2.20, per share. Mutual Benefits Assurance followed with a gain of 22.03 per cent to close at N3.60, while Nigerian Exchange Group went up by 21.55 per cent to close to N179.90, per share.

On the other side, Transcorp Power led the decliners table by 18.94 per cent to close at N178.00, per share. John Holt followed with a loss of 18.89 per cent to close at N7.30, while Ellah Lakes declined by 18.14 per cent to close at N8.35, per share.

Overall, a total turnover of 3.249 billion shares worth N237.986 billion in 287,919 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 3.647 billion shares valued at N130.151 billion that exchanged hands last week in 244,777 deals.

Cowry Assets Management Limited stated that “overall, the market’s positive performance was largely driven by strong investor sentiment, increased demand for selected stocks, and broad-based gains across all sectors, with the Banking sector serving as the primary catalyst for the week’s advance.”

On market outlook, the firm said that “we expect the Nigerian equities market to sustain its positive momentum in the near term, supported by renewed investor demand, broad-based sector gains, and continued interest in fundamentally strong stocks.

“However, the market may experience bouts of profit-taking following the strong

YTD performance. Investors are therefore likely to remain selective, with attention focused on earnings prospects, valuations, dividend potential, and key market catalysts.”

Cordros Securities Limited noted that “in the coming week, market direction will likely be shaped by the outcome of the 307th MPC meeting scheduled September 21 and 22, 2026, developments in the primary market auctions, and the reinclusion of Nigerian equities in the FTSE Index, effective September 21, 2026.

“Nonetheless, we expect risk-off sentiment to remain broadly dominant, albeit with intermittent bargain hunting, as investors assess these catalysts and reposition ahead of fourth quarter (Q4).