Nigeria’s equities market staged a major recovery last week, with investors recording a gain of N9.342 trillion as renewed buying interest pushed the Nigerian Exchange Limited (NGX) into a strong bullish position.
The impressive performance came after a difficult trading period in the previous week, when the market suffered losses of more than N1.8 trillion following a wave of sell-offs that had affected equities since the last week of June 2026.
Data from the NGX showed that the market capitalisation, which represents the total value of listed companies on the Exchange, rose significantly to N156.444 trillion at the close of trading last week, compared with N147.102 trillion recorded the previous week.
The NGX All-Share Index (ASI), another key indicator that tracks the overall movement of share prices on the Exchange, also recorded a remarkable improvement. The index gained 6.4 per cent, rising from 229,240.34 points to close at 243,798.76 points.
The recovery was largely driven by strong performances from major companies, particularly heavyweight stocks that attracted renewed investor interest. Among the top contributors were Dangote Cement, which appreciated by 17.51 per cent, Airtel Africa, which gained 10 per cent, MTNN, which increased by eight per cent, and ARADEL, which recorded a 19.67 per cent rise.
Following the positive momentum, the market’s year-to-date (YtD) return improved to 56.8 per cent, reflecting the significant gains recorded by investors since the beginning of the year.
Market analysts observed that the NGX maintained its positive direction throughout most of last week’s trading sessions, with investors shifting funds towards fundamentally strong large and medium-cap companies.
According to analysts, the continued movement of capital into blue-chip stocks demonstrates growing confidence in Nigeria’s equities market despite concerns surrounding global economic uncertainty and geopolitical risks.
Trading activity also remained strong during the week, as investors exchanged a total of 3.648 billion shares valued at N220.568 billion across 251,861 deals.
This represented a change from the previous week, when 3.821 billion shares worth N154.393 billion were traded in 258,567 deals.
The Financial Services sector dominated market activity during the period, leading in terms of trading volume. The sector recorded transactions involving 2.899 billion shares valued at N147.360 billion across 106,603 deals.
The industry accounted for 79.48 per cent of the total equity turnover volume and 66.81 per cent of the total value traded on the Exchange.
The strong rebound highlights renewed investor appetite for Nigerian equities, with market participants closely watching whether the momentum can continue in the coming weeks as economic conditions and corporate performances shape trading decisions.