The Nigerian Exchange (NGX) posted a market gain of N437 billion last week as dividend declarations by listed companies boosted sentiment and reversed the recent negative trend.
The All-Share Index advanced by 0.66 percent to close at 105,660.64 index points, while market capitalization settled at N66.26 trillion.
The improvement was driven by renewed interest in dividend-paying stocks, particularly within the banking and insurance sectors, as investors responded to full-year 2024 earnings releases.
The banking index recorded the highest sectoral gain, rising by 4.28 percent.
Demand for stocks such as Guaranty Trust Holding Company, Fidelity Bank, First Bank Holdings, and FCMB Group contributed to the positive performance.
The insurance index closed 3.21 percent higher, followed by marginal gains in the consumer goods and industrial indices.
Trading activity increased significantly during the week. Total turnover rose by 159.20 percent to 7.52 billion units, while the total value of transactions advanced by 730.04 percent to N398.95 billion.
Improved participation from institutional investors and portfolio adjustments ahead of the quarter-end contributed to the surge in activity.
Despite the positive market performance, not all sectors finished higher. The oil and gas index declined by 1.65 percent, while the commodity index fell by 0.76 percent.
The equities market recorded a positive breadth of 1.19 times, as 43 stocks closed higher against 36 decliners.
Market analysts expect investor sentiment to remain positive in the near term, supported by the ongoing earnings season and dividend declarations.
However, they cautioned that profit-taking activities and portfolio rebalancing could moderate gains in the coming sessions.
