Weekly Market Wrap: Nigerian stock market gains 0.99% as insurance stocks shine, IKEJA HOTEL tops gainers 

This marks a 0.99% week-on-week increase, pushing the index past the significant 102,000-point threshold, up from its previous close of 101,129.09 points.

Despite the market’s positive momentum, trading volume dropped sharply by 46.7%, falling to 1.3 billion shares from 2.5 billion the previous week.

Market breadth remained strong, with 64 stocks recording price gains, an improvement from the 61 gainers in the prior week.

Conversely, only 20 stocks declined, fewer than the 26 laggards observed previously.

This performance reflects investor optimism as the year-end approaches, underscoring resilience in key market sectors.

The Nigerian stock market exhibited a largely bullish trend throughout the week, with market capitalization briefly surpassing the N62 trillion mark before settling at N61.9 trillion on Friday.

The All-Share Index (ASI) began the week on a strong note, sustaining gains up to Christmas Eve, December 24. However, after the market holiday on December 25 and 26, the index shed 52 points, closing slightly in the red.

Leading the pack of gainers, IKEJA HOTEL PLC surged by 32.79%, followed by MULTIVERSE MINING AND EXPLORATION PLC, which rose by 32.61%. Other notable gainers included:

On the losing side, THOMAS WYATT NIG. PLC led the decline, falling by 10.00%, followed by ARADEL HOLDINGS PLC and AUSTIN LAZ & COMPANY PLC, which fell by 9.64% and 9.29%. Other significant decliners included:

This week, several corporate developments captured investor attention:

These announcements underscore key strategic initiatives across various sectors, showcasing the dynamism of the Nigerian corporate landscape.