LAGOS: Investors in the Nigerian capital market recorded strong gains last week as equities added approximately N1.36 trillion to market value, reflecting renewed bullish sentiment across key listed companies.
The total market capitalisation rose from N129.8 trillion to N131.1 trillion, while the All-Share Index (ASI) on the Nigerian Exchange Limited (NGX) advanced by 1.03 percent, closing the week at 203,770.43 points, compared to 201,698.89 points the previous week.
Market analysts attributed the positive performance to sustained demand for selected mid- and large-cap stocks, particularly in the logistics, financial services, and capital market infrastructure sectors.
The week’s bullish trend was supported by notable gains in stocks such as Trans-Nationwide Express Plc (Trans Express), Nigerian Exchange Group (NGX Group), and Guaranty Trust Holding Company (GTCO), all of which featured prominently among the top-performing equities.
These stocks have now been identified as key “stocks to watch” in the new trading week, given their strong momentum, trading volumes, and sustained investor interest.
However, the NGX reiterated that the performance summary does not constitute investment advice, urging investors to consult financial advisers before making trading decisions.
Logistics firm Trans-Nationwide Express Plc emerged as one of the standout performers of the week.
The stock closed at ₦3.77, representing a 9.9 percent gain from its previous close of ₦3.43. Since the beginning of the year, it has appreciated significantly from ₦2.15, marking a year-to-date gain of over 75 percent.
The company also recorded strong short-term momentum, with a 60 percent gain in the last four weeks, making it one of the best-performing stocks on the exchange during that period.
Despite relatively low trading volume compared to larger equities, investor sentiment has remained strong, driven by expectations of improved logistics activity and broader economic recovery.
The Nigerian Exchange Group continued its impressive rally, closing the week at ₦188.00, up from ₦185.00.
The stock has delivered one of the most remarkable year-to-date performances on the exchange, rising from ₦70.00 at the start of the year to ₦188.00, representing a gain of about 169 percent.
NGX Group also recorded strong liquidity, with substantial trading volumes over recent months, making it one of the most actively traded stocks on the exchange.
Analysts say the strong performance reflects investor confidence in the exchange operator amid increasing market activity and reforms in Nigeria’s capital market structure.
Guaranty Trust Holding Company Plc (GTCO) also maintained its upward trajectory, closing at ₦135.00, up from ₦131.50 in the previous session.
The stock has gained nearly 49 percent year-to-date, rising from ₦90.70 at the beginning of the year.
GTCO remains one of the most actively traded banking stocks on the NGX, with billions of shares exchanged over the past three months.
Its sustained performance reflects strong investor appetite for tier-one banking stocks, driven by solid earnings expectations, dividend history, and sector resilience.
Market watchers expect continued volatility but sustained interest in fundamentally strong stocks, particularly in the banking, capital market infrastructure, and logistics sectors.
However, analysts caution that recent gains may trigger short-term profit-taking, especially among retail investors, as the market adjusts to new price levels.
Overall, sentiment remains cautiously optimistic as investors position ahead of anticipated corporate earnings releases and macroeconomic policy signals.
