The Nigerian All-Share Index (ASI) closed the week ended September 26 higher, gaining 287.68 points to settle at 142,133.03.
This represents a 0.20% rise from the previous week’s close of 141,845.35, driven by rallies in select large-cap stocks, and brings the month-to-date gain to 1.31%.
Market activity picked up slightly, with total volume rising to 2.9 billion shares from 2.7 billion shares the previous week.
Market capitalization grew to N89.96 trillion from N89.74 trillion the previous week, mirroring the modest but broad-based positive price action in the market.
Price action on the All-Share Index (ASI) began the week on a negative note, slipping on Monday and lingering into Tuesday before easing on Wednesday at 140,716.
The index rebounded on Thursday and gained momentum on Friday, closing the week on a strong note.
The NGX Premium Index rose 0.48%, driven primarily by a 9.14% gain in ZENITH BANK, followed by a 4.00% rise in LAFARGE, a 1.72% increase in DANGOTE CEMENT, and a 1.58% gain in UBA.
The NGX-Main Board Index was up 0.03%, while the NGX 30 Index gained 0.24%.
Leading the pack was THOMAS WYATT NIG. PLC, which soared 22.68% week-to-date to close at N3.30. SECURE ELECTRONIC TECHNOLOGY PLC followed closely with a 21.33% gain, closing at N0.91.
Other major gainers included:
On the flip side, WEMA BANK PLC led the laggards, shedding 12.41% week-to-date to close at N18.00. FIDELITY PLC followed with an 11.08% drop, closing at N18.45.
Other notable decliners were:
The week featured several notable corporate disclosures and sector developments:
Despite bearish price movements early in the week, the All-Share Index regained the 142,000 level as select large-cap stocks rallied.
If bearish pressure returns in the banking sector and among key large-cap stocks, the index could attempt to test the 143,000 and 144,000 levels again.