The Nigerian Exchange (NGX) ended Friday’s trading session firmly in positive territory, propelling the benchmark All-Share Index (ASI) to a close of 141,004.14 points. The index advanced by 671.70 basis points, representing a single-day gain of 0.48 percent, bolstering market sentiment ahead of the new trading week. This daily upswing contributed to trimming the exchange’s weekly loss, which settled at 2.51 percent, and solidified its formidable year-to-date gain at 37 percent, maintaining its status as one of the top-performing bourses in Africa.
Sectoral indices were the primary drivers of the session’s gains, led by a powerful surge in insurance stocks. The NGX Insurance Index skyrocketed by 7.06 percent, cementing its position as a standout performer with an astounding year-to-date return of 80.62 percent. The consumer goods sector also posted strong numbers, advancing 1.08 percent to push its cumulative yearly gain to 85.89 percent. Banking equities joined the rally, with the corresponding index climbing 0.83 percent on the back of improved investor appetite driven by robust earnings and higher interest income, bringing its year-to-date performance to 42.67 percent.
The broad-based rally was further evidenced by gains in the NGX Main Board Index, which rose 0.67 percent, and the NGX Pension Index, which climbed 0.65 percent, indicating sustained participation from institutional investors and pension fund administrators. The overall market capitalization appreciated to ₦89.2 trillion, underscoring the market’s growing depth and valuation. Trading activity remained robust with a total volume of 767.75 million shares exchanged in 25,897 deals, valued at ₦25.23 billion.
Market analysts posit that Nigerian equities continue to serve as a critical hedge against persistent domestic inflation and currency volatility, offering investors real returns that outpace prevailing macroeconomic headwinds. The upbeat sentiment is also attributed to recent government policy reforms and monetary adjustments, which are reshaping the earnings outlook for listed corporations. While optimism prevails, caution remains due to the potential for short-term volatility.
With the ASI’s steady ascent, global investors are increasingly focused on the liquidity and size of Nigeria’s equity market, reinforcing Lagos as a pivotal hub for investment flows within Africa. As trading resumes, market watchers are now focused on whether the exchange can maintain this momentum and consolidate its gains.
