Nigerian Exchange Limited
Oil & Gas Emerges Best-Performing NGX Sector with 9.1% Weekly Gain
The Nigerian Exchange’s oil and gas sector outpaced every major market index last week after a 9.10 percent rally underscored growing investor appetite for energy stocks during a week of broad-based market gains.
The NGX Oil & Gas Index advanced 9.10 percent during the week, making it the Exchange’s best-performing sector and significantly outpacing gains recorded across banking, insurance, consumer goods and premium equities.
The strong performance came during a week in which the broader market also posted impressive gains.
The NGX All-Share Index (ASI) rose 2.36 percent to close at 246,992.44 points, while equity market capitalisation appreciated 2.40 percent to N159.559 trillion, adding approximately N3.7 trillion to investors’ wealth.
Although financial stocks continued to dominate trading activity, the oil and gas sector delivered the strongest price appreciation among all sectoral indices.
The NGX Banking Index gained 3.58 percent, the Insurance Index advanced 3.85 percent, while the Consumer Goods Index climbed 4.47 percent. Despite those gains, none matched the oil and gas sector’s 9.10 percent weekly advance.
Weekly Sector Performance
| Sector Index | Weekly Gain |
|---|---|
| NGX Oil & Gas | 9.10% |
| NGX Consumer Goods | 4.47% |
| NGX Insurance | 3.85% |
| NGX AFR Dividend Yield | 3.83% |
| NGX Premium | 3.73% |
| NGX Pension | 3.66% |
| NGX Banking | 3.58% |
The broad strength across multiple sectors reflects improving investor sentiment, but the oil and gas index clearly emerged as the market’s standout performer during the week.
The sector’s rally coincided with a significant increase in overall market participation.
Investors traded 4.360 billion shares worth N210.331 billion in 223,284 deals, compared with 2.507 billion shares valued at N123.223 billion recorded in the previous week.
Market breadth also improved substantially.
A total of 56 equities appreciated during the week compared with 24 in the previous week, while the number of declining stocks fell to 35 from 55, indicating that buying interest broadened across the Exchange rather than remaining concentrated in a handful of large-cap stocks.
Despite the oil and gas sector’s leadership in price performance, financial stocks remained the market’s liquidity engine.
The Financial Services sector accounted for 82.10 percent of total trading volume after investors exchanged 3.580 billion shares valued at N88.635 billion, reaffirming its position as the Exchange’s most actively traded sector.
The week’s trading highlights a market where sector leadership is becoming more diversified.
While banks continue to dominate turnover, the oil and gas sector delivered the strongest returns, suggesting investors increasingly broadened their exposure beyond financial stocks as confidence in Nigerian equities strengthened during the week.