The Nigerian equities market staged a decisive comeback in the first week of December, recovering N2.436 trillion after suffering a historic N6.5 trillion loss in November.
The rebound was powered by a strong N996.840 billion surge on Friday, marking the strongest single-day gain recorded within the week and signaling renewed investor optimism following last month’s steep sell-off.
The weekly gain represents a 2.7% rise in market value, with capitalization climbing from N91.286 trillion on November 28 to N93.722 trillion at the close of trading on Friday, December 5.
The benchmark All-Share Index (ASI) also advanced significantly, rising by 3,519.55 basis points or 2.45% to settle at 147,040.08 points, compared to 143,520.53 points at the end of November.
On a daily basis, the market recorded further strength as the ASI increased by 1.07%, adding 1,563.93 basis points to close at 147,040.08 points, up from 145,476.15 points on Thursday.
Market capitalization correspondingly rose by N996.840 billion, ending the session at N93.722 trillion, a significant leap from N92.725 trillion the previous day.
The strong first-week performance has provided much-needed relief for investors, setting a positive tone for December after the heaviest monthly loss in recent NGX history. Below are the key performance indicators for Friday:
On week-to-week basis, total market turnover rose sharply. A total of 6.617 billion shares valued at N113.224 billion were exchanged in 109,590 deals, outperforming the previous week’s 4.140 billion shares worth N115.889 billion traded in 102,351 deals.
The ICT Industry led the activity chart by volume, trading 3.500 billion shares valued at N17.759 billion in 11,184 deals. This accounted for 52.89% of total equity volume and 15.68% of total value, driven largely by heavy transactions in E-Tranzact.
The Financial Services Industry followed with 2.625 billion shares worth N50.188 billion in 42,574 deals, while the Services Industry ranked third with 104.524 million shares valued at N1.166 billion in 7,255 deals.
Activity was heavily concentrated in three stocks—E-Tranzact International Plc, Cornerstone Insurance Plc, and Access Holdings Plc—which together accounted for a dominant 4.871 billion shares worth N27.422 billion in 6,438 deals, contributing 73.60% of total turnover volume and 24.22% of total market value.
More equities recorded gains
All sectoral indices closed higher with the exception of the NGX Oil and Gas Index, which dipped 0.57%, and the NGX Commodity Index, which shed 0.30%.
Market breadth improved significantly as 55 equities appreciated, higher than 38 recorded the previous week. Meanwhile, 29 equities declined, lower than 36 in the prior week, while 63 remained unchanged, compared to 73 previously.