The Nigerian equities market has sustained its positive momentum for a third consecutive week, with the NGX All-Share Index (ASI) climbing by 2,308.85 basis points, or approximately 0.92%. The index closed at 252,113.41 points on September 25, up from 249,804.56 points the previous week.
Market capitalization also saw a significant increase, rising by N1.498 trillion to reach N163.655 trillion. This surge has contributed to a robust year-to-date return of +62.01%, fueled by renewed buying interest in oil & gas and banking stocks.
Critical Minerals Financing Corp Plc emerged as the standout performer of the week, soaring by 59.80% to close at N3.26. In contrast, Haldane McCall Plc led the losers with a 16.67% decline. Despite a slight dip on the final trading day, the market breadth remained positive with 39 gainers outpacing 27 losers.
Trading activity saw a notable increase, with total turnover rising to 4.689 billion shares valued at N240.824 billion. The Financial Services Industry dominated trading volume, accounting for 75.43% of total shares traded.
Sector performance was predominantly positive, particularly in the Oil & Gas sector, which surged 3.91%. Other sectors like Banking and Consumer Goods also posted gains, while the Insurance Index was the only sector to decline.