Weekly Market Wrap: Nigerian stock market soars 1.76% as All-Share surpasses N61 trillion, MRS Oil and ETERNA PLC lead gains

This 1.76% rise broke through the key psychological levels of 100,000 and 101,000, signaling the market’s remarkable resilience and strong investor confidence.

Despite the bullish trend, trading volume saw a 7.2% decline, with 2.5 billion shares traded compared to 2.7 billion shares in the previous week.

Market breadth remained robust, with 61 stocks recording price gains, up from 51 in the prior week, while 26 equities experienced declines—a notable improvement from the 35 losers recorded the previous week.

The Nigerian stock market maintained a largely bullish trajectory throughout the week, with market capitalization crossing the N61 trillion mark to close at N61.3 trillion.

The All-Share Index (ASI) kicked off strongly on Monday, sustaining a streak of gains through Thursday, which saw the week’s largest rally. Despite a slight pullback on Friday, the market capitalization held firm above N61 trillion, underscoring investor confidence.

Overall, the week’s performance reflected sustained investor interest across key sectors, with notable gains in banking, insurance, and consumer goods stocks propelling the market forward.

Leading the pack of gainers, MRS OIL NIGERIA PLC surged by 36.36%, followed by ETERNA PLC, which rose by 32.36%. Other notable gainers included:

On the losing side, JOHN HOLT PLC led the decline, plunging by 18.67%, followed by MULTIVERSE MINING AND EXPLORATION PLC and UNIVERSITY PRESS PLC, which fell by 18.58% and 16.27%. Other significant decliners included:

Several corporate announcements made waves this week: