Weekly Market Wrap: All-Share hits N64 trillion, gains 1.80% as MTNN soars, insurance stocks tumble 

This stellar performance represents a 1.80% uptick from the previous week’s close of 103,586.33, shattering the 104,500-resistance level that had held firm since March 2024.

Marking the sixth consecutive week of gains, the market’s rally was fueled by intensified trading activity.

Total market volume surged to 3.6 billion shares, reflecting a robust 37.8% increase from the preceding week’s 2.6 billion shares.

Meanwhile, market capitalization surpassed the significant milestone of N64 trillion, closing at N64.3 trillion, driven by gains in the Premium sub-index and broad-based price increases across key equities.

A closer look at price movements reveals a mixed but vibrant trading landscape. Fifty-one equities recorded price appreciations, a decline from the 82 gainers of the prior week.

Conversely, 39 equities saw price depreciations, a notable rise from the previous week’s 18, while 62 equities remained flat.

The Nigerian stock market demonstrated a largely bullish trajectory over the past week, with market capitalization crossing the N64 trillion milestone to close at N64.3 trillion.

The All-Share Index (ASI) started the week on a positive note, ending Monday in the green. Although the index experienced a minor dip on Tuesday, it rebounded on Wednesday.

Most of the week’s gains were recorded on Thursday, but the market saw a marginal decline of 0.08% on Friday.

Key highlights of the week: 

Sectoral performance: 

Leading the pack of gainers, MULTIVERSE MINING AND EXPLORATION PLC surged by 53.42%, followed by HONEYWELL FLOUR MILL PLC, which rose by 31.67%. Other notable gainers included:

On the losing side, SUNU ASSURANCES NIGERIA PLC. led the decline, falling by 36.52%, followed by CAVERTON OFFSHORE SUPPORT GRP PLC and CONSOLIDATED HALLMARK HOLDINGS PLC, which fell by 15.00% and 15.00%, respectively. Other significant decliners included:

Several corporate announcements made waves this week: