If there is one word to describe the Nigerian stock market this past week, it is resilient. After a mid-week scare that left many investors holding their breath, the market staged a spectacular comeback, closing out the week on Friday with a massive N344 billion gain!
Here at ABT NEWS (www.abtnews.net), we’ve been tracking the numbers to bring you a clear, easy-to-understand breakdown of just how robust the Nigerian Exchange (NGX) has been over the last few days.
The Billion-Naira Bounce Back It wasn’t a straight path to victory this week. Just a few days ago, on Wednesday, the market took a heavy hit, shedding a staggering N1.62 trillion. For faint-hearted investors, it looked like a gloomy week ahead. But the market quickly dusted itself off. By Thursday, investors clawed back N73 billion, setting the stage for a fantastic Friday finish.
According to data from the Nigerian Exchange Limited, Friday’s trading session saw the market capitalization—which is the total value of all shares—jump by 0.22%. It opened the day at N159.733 trillion and closed at a commanding N160.077 trillion, injecting N344 billion directly into the portfolios of happy investors.
Similarly, the All-Share Index (the general thermometer for how well the market is doing) rose by 536.98 points to close at 249,712.37. Thanks to this bullish run, the market’s year-to-date return has now soared to an impressive 60.47%.
Who Won and Who Lost? The trading floors were buzzing with optimism, ending the week with 30 gainers outperforming 27 losers.
- The High Flyers: Leading the pack of winners were Aluminum Extrusion Industry and Daar Communications, both hitting the maximum daily gain limit of 10% to close at N9.90 and N2.09 per share, respectively. Other top performers included RT Briscoe (up 9.93%), Learn Africa (up 9.79%), and Red Star Express (up 9.56%).
- The Slower Movers: On the flip side, Trans-Nationwide Express had a tough day, dropping 9.92% to close at N5.72. Livestock Feeds and The Initiates also saw dips of 9.64% and 8.65%, respectively.
The Busiest Stock on the Floor Even though the overall volume of shares traded dipped slightly on Friday to 711.86 million shares (worth N29.08 billion), one stock completely stole the show: Fidelity Bank.
Fidelity Bank was the undisputed heavyweight champion of the day, emerging as the most actively traded stock by both volume and value. A massive 198.08 million of its shares changed hands, raking in N4.59 billion in a single day!
The ABT NEWS Verdict The Nigerian stock market has proven once again that it has the shock absorbers to handle turbulence. Bouncing back from a N1.62 trillion deficit on Wednesday to end the week with back-to-back days of billion-naira gains shows incredible market depth and investor confidence.
For the everyday investor, the message is clear: the Nigerian stock market remains a dynamic space full of opportunities, provided you can stomach the occasional rollercoaster ride!
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