NGX Bull Run Continues as Investors Pocket N883 Billion Gains
The Nigerian Exchange Limited (NGX) extended its bullish streak in early February, with the All-Share Index (ASI) rising 1.4% week-on-week to close at 105,933.03 points. This surge boosted the market capitalization by ₦883.5 billion, bringing it to ₦65.59 trillion, while the year-to-date return climbed to 2.92%.
Key Drivers of Market Rally
Investor confidence remained high, driven by:
✅ Expectations of strong Q4 corporate earnings
✅ Anticipation of January’s CPI data release under a new methodology
✅ Increased market participation, as all five trading sessions closed in the green ✅
Corporate Earnings in Focus
Top-performing stocks showed impressive financial growth:
Oando Plc: Revenue soared 45% to ₦4.1 trillion, while profit after tax (PAT) rose 9% to ₦65.5 billion.
FCMB Group Plc: Gross earnings surged 53.9% to ₦794.8 billion, with profit before tax (PBT) up 27.6% to ₦117.2 billion.
Sector Performance
Five out of six tracked indices recorded gains:
✅ NGX Banking Index: +4.66%
✅ NGX Insurance Index: +1.61%
✅ NGX Commodity Index: +1.29%
✅ NGX Industrial Index: +0.85% ️
✅ NGX Oil & Gas Index: +0.56% ⛽
❌ NGX Consumer Goods Index fell 0.6%, dragged down by Dangote Sugar, Tantalizers, Nigerian Breweries, and May & Baker.
Top Gainers & Losers
Biggest Gainers:
UPDC (+38.5%)
Eterna (+32.8%)
International Energy Insurance (INTENEGINS) (+29.5%)
Cadbury (+26.6%)
Fidson (+24.4%)
❤️ Biggest Losers:
Sunu Assurance (-12.9%)
UPL (-10%)
Multiverse (-10%)
Scoa (-9.8%)
Tripple G (-9.7%)
Trading Activity Surges
✅ Trading Volume: 4.08 billion units traded (+25.8% W/W)
✅ Trading Value: ₦126.43 billion (+82.7% W/W)
✅ Number of Deals: 87,162 trades (+12.8%)
The Financial Services sector led the market, accounting for 74% of total equity turnover, with Access Holdings, FBN Holdings, and Zenith Bank dominating trades.
Market Outlook
Analysts predict the bullish trend will persist, fueled by:
Upcoming Q4 earnings reports
Dividend payout expectations
Macroeconomic indicators & CPI release
With strong earnings and positive investor sentiment, the NGX remains on an upward trajectory, making it an exciting time for market participants!
The Nigerian Exchange Limited (NGX) extended its bullish streak in early February, with the All-Share Index (ASI) rising 1.4% week-on-week to close at 105,933.03 points. This surge boosted the market capitalization by ₦883.5 billion, bringing it to ₦65.59 trillion, while the year-to-date return climbed to 2.92%.
Key Drivers of Market Rally
Investor confidence remained high, driven by:
✅ Expectations of strong Q4 corporate earnings
✅ Anticipation of January’s CPI data release under a new methodology
✅ Increased market participation, as all five trading sessions closed in the green ✅
Corporate Earnings in Focus
Top-performing stocks showed impressive financial growth:
Oando Plc: Revenue soared 45% to ₦4.1 trillion, while profit after tax (PAT) rose 9% to ₦65.5 billion.
FCMB Group Plc: Gross earnings surged 53.9% to ₦794.8 billion, with profit before tax (PBT) up 27.6% to ₦117.2 billion.
Sector Performance
Five out of six tracked indices recorded gains:
✅ NGX Banking Index: +4.66%
✅ NGX Insurance Index: +1.61%
✅ NGX Commodity Index: +1.29%
✅ NGX Industrial Index: +0.85% ️
✅ NGX Oil & Gas Index: +0.56% ⛽
❌ NGX Consumer Goods Index fell 0.6%, dragged down by Dangote Sugar, Tantalizers, Nigerian Breweries, and May & Baker.
Top Gainers & Losers
Biggest Gainers:
UPDC (+38.5%)
Eterna (+32.8%)
International Energy Insurance (INTENEGINS) (+29.5%)
Cadbury (+26.6%)
Fidson (+24.4%)
❤️ Biggest Losers:
Sunu Assurance (-12.9%)
UPL (-10%)
Multiverse (-10%)
Scoa (-9.8%)
Tripple G (-9.7%)
Trading Activity Surges
✅ Trading Volume: 4.08 billion units traded (+25.8% W/W)
✅ Trading Value: ₦126.43 billion (+82.7% W/W)
✅ Number of Deals: 87,162 trades (+12.8%)
The Financial Services sector led the market, accounting for 74% of total equity turnover, with Access Holdings, FBN Holdings, and Zenith Bank dominating trades.
Market Outlook
Analysts predict the bullish trend will persist, fueled by:
Upcoming Q4 earnings reports
Dividend payout expectations
Macroeconomic indicators & CPI release
With strong earnings and positive investor sentiment, the NGX remains on an upward trajectory, making it an exciting time for market participants!