Nigeria’s equities market rose on Wednesday for a third straight session as investors increased buying ahead of half-year 2025 earnings releases.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) increased by 0.28 percent to close at 121,989.67 points, up from the previous day’s level of 121,653.93 points.
The market’s total capitalisation also advanced to N76.970 trillion from N76.758 trillion recorded on Tuesday.
The latest rally lifted the market’s weekly gain to 0.83 percent while the benchmark index has risen by 1.68 percent in July and delivered an impressive 18.52 percent return year-to-date.
Trading activity remained robust with investors executing 24,303 deals involving 888,703,271 shares valued at N15.609 billion. Japaul Gold, Access Holdings, AIICO Insurance, Universal Insurance, and Ellah Lakes were among the most actively traded stocks.
Market sentiment stayed positive as several stocks hit the NGX’s daily upward limit of 10 percent. Chams led the gainers’ chart, rising from N2.50 to N2.75, adding 25 kobo or 10 percent.
Omatek followed, moving from N1.10 to N1.21, up by 11 kobo or 10 percent.
Red Star Express advanced from N10.10 to N11.11, adding N1.01 or 10 percent, while RT Briscoe gained 35 kobo to close at N3.85, also up 10 percent. C & I Leasing rose from N6.60 to N7.26, adding 66 kobo or 10 percent at the close of trading.
Analysts say investors are positioning ahead of upcoming half-year earnings results expected to drive further sentiment in the near term.
The market’s resilience despite macroeconomic challenges has attracted sustained buying interest, especially in high-volume stocks.
The sustained uptick in trading volumes and broad-based gains reflect renewed confidence among local investors seeking value opportunities as companies prepare to release mid-year financials.
Market participants will continue to watch key sectors for signs of improved earnings momentum with banking, insurance and industrial goods stocks expected to play a significant role in market direction in the coming weeks.
The NGX’s positive run highlights improving sentiment towards Nigerian equities, supported by investor focus on fundamentally sound counters, relative undervaluation, and expected dividend announcements.
