Market Breadth Was Also Positive, With 33 Stocks Recording Gains Against 19% Decliners, Reflecting Broad-based Buying Interest

Nigerian equities ended the week on a bullish note, with investors' sustained appetite for blue-chip stocks lifting the market capitalisation by N1.383 trillion. The market capitalisation rose by 0.90 per cent, from N154.442 trillion on Thursday to N155.825 trillion at the close of trading on Friday. Similarly, the All-Share Index (ASI) climbed by 2,142.38 points, or 0.90 per cent, to 241,298.47, from 239,156.09 recorded in the previous session.

The positive performance was driven largely by gains in Seplat Energy, Transcorp Hotels, Omatek Ventures, Daar Communications and University Press, alongside 27 other stocks. With the latest rally, the market's year-to-date return increased to 55.06 per cent, underscoring the strong performance of Nigerian equities so far this year. Market breadth was also positive, with 33 stocks recording gains against 19 decliners, reflecting broad-based buying interest.

Seplat Energy emerged as the day's biggest gainer, appreciating by the maximum 10 per cent to close at N12,320.60 per share. Transcorp Hotels followed closely, gaining 9.76 per cent to settle at N265.50, while Omatek Ventures rose by 9.49 per cent to N1.50 per share. Daar Communications advanced by 9.42 per cent to close at N1.51, while University Press appreciated by 8.57 per cent to N5.70 per share.

The gains came despite significant declines in some stocks, with Total leading the losers' table after shedding 10 per cent to close at N576 per share. Haldane McCall declined by 8.78 per cent to N3.74, while Etranzact fell by 8.62 per cent to N13.25 per share. Austinlaz also lost 7.41 per cent to close at N2.50, while AVA Capital declined by 7.14 per cent to N6.50 per share.

Trading activity increased during the session, with 605.17 million shares worth N29.87 billion exchanged in 38,421 deals. This compared with 499.96 million shares valued at N35.15 billion traded in 40,323 transactions on Thursday. The figures showed a 21.04 per cent increase in trading volume, although the value of transactions declined compared with the previous session. Jaiz Bank dominated trading by volume, accounting for 210.71 million shares, representing 34.82 per cent of the total volume traded.