The Nigerian stock market extended its bullish streak last week as surging banking stocks and strong institutional demand lifted the All-Share Index 6.35 per cent, driving market capitalisation to a record N156.445tn, writes JIDE AJIA
The Nigerian capital market delivered a highly dynamic performance for the week under review, characterised by surging values, heightened investor confidence, and powerful breakouts across major sectors.
While overall transaction volumes experienced a marginal contraction compared to the previous week, the total capital injected into the market saw an aggressive spike, reflecting an influx of high-value block trades and dominant institutional accumulation.
The benchmark index marched aggressively into overbought territory as positive sentiment swept through the floor of the Exchange, reversing a previous wave of caution and driving equity capitalisation towards historic thresholds. This widespread optimism was further bolstered by key regulatory resolutions and strategic corporate alignments that kept local and foreign market participants highly engaged throughout the five-day trading window.
At the centre of this weekly rally was an intense concentration of liquidity within the banking sector, where three prominent institutions dictated the overall pace of market activity. The immense traction gathered by these flagship equities underscored a broader trend of value rotation, which reshaped the market landscape and set the tone for the rest of the month. This realignment highlights how domestic economic indicators and corporate performance continue to guide investor risk appetite in the local bourse.
