The Nigerian All-Share Index ended the week on a strong note, rising by 1,989.60 points to close at 148,977.64, a 1.35% weekly gain.
From an opening level of 146,988.04, the benchmark continued its upward march, crossing key levels at 147,000 and 148,000, driven by gains in several large-cap stocks such as DANGOTE CEMENT and LAFARGE.
Market activity also improved, with a total of 2.4 billion shares traded, up from 2.2 billion shares exchanged in the previous week.
On the value side, market capitalization expanded to N94.5 trillion, compared to N93.2 trillion a week earlier, across 126,591 deals.
So far, the All-Share Index has gained 4.39% month-to-date and an impressive 44.74% year-to-date.
The All-Share Index ended four out of five trading days in the green during the week.
The NGX Premium Index advanced 1.65%, lifted by a 4.35% rise in DANGOTE CEMENT, a 4.27% gain in LAFARGE, 1.29% in FIRSTHOLDCO, and 0.72% in MTN Nigeria.
Similarly, the NGX 30 Index gained 1.43%, while the NGX-Main Board Index jumped 1.21%.
Sectoral performance
On the downside, the NGX Banking Index slipped 0.13%, making it the only major index to close in the red.
Leading the pack was SOVEREIGN TRUST INSURANCE PLC, which gained 11.21% week-to-date to close at N3.57. ROYAL EXCHANGE PLC followed closely with an 11.11% gain, closing at N2.40.
On the flip side, TRIPPLE GEE AND COMPANY PLC led the laggards, shedding 18.84% week-to-date to close at N4.91. ACADEMY PRESS PLC followed with a 17.92% drop to N7.88.
Other notable decliners were:
The week was marked by several key corporate disclosures and sector-wide developments:
Market outlook
The Nigerian stock market continued to show strength, conquering new barriers at the 147,000 and 148,000 levels on the back of gains in select large-cap stocks.
The Nigerian stock market continued to show strength, conquering new barriers at the 147,000 and 148,000 levels on the back of gains in select large-cap stocks.
As more Q3 earnings reports are released, positive results could further boost investor sentiment and potentially drive additional market gains in the coming sessions.