The Nigerian stock market concluded trading on Friday with a significant rebound, ending a seven-session losing streak. Investors' wealth surged by ₦209 billion, driven by gains in key stocks. The market capitalisation rose by 0.13 per cent to ₦161.260 trillion from ₦161.051 trillion recorded in the previous session. This upswing was attributed to increased investor confidence and positive market sentiments.
The All-Share Index also advanced by 321.05 points, or 0.13 per cent, to close at 248,363.55, compared with 248,042.50 posted in the preceding session. This recovery lifted the market's year-to-date return to 59.60 per cent, reflecting its cumulative performance since the beginning of 2026. Market analysts had previously predicted a potential recovery after recent selloffs in equities, citing improved investor sentiment.
Despite the market's overall positive performance, market breadth remained negative. A total of 31 stocks declined against 22 gainers, indicating that losses continued to outweigh advances across the market. This mixed performance suggests that while some stocks experienced significant gains, others continued to struggle.
Red Star Express led the gainers' chart, appreciating by 9.76 per cent to close at ₦13.40 per share. Fidelity Bank followed with an 8.70 per cent increase to ₦21 per share, while Daar Communications gained eight per cent to close at ₦1.38. Other notable gainers included WAPIC, which rose by 7.26 per cent to ₦2.30 per share, and Omatek, which appreciated by 6.94 per cent to close at ₦1.34.
On the losers' chart, Regency Alliance Insurance led with a 10 per cent decline to close at 77 kobo per share. Livestock Feeds shed 9.58 per cent to settle at ₦13.15, while Guinea Insurance dropped by 9.41 per cent to close at 93 kobo per share. Other stocks that experienced significant losses included CAP, which declined by 8.50 per cent to ₦108.50, and UPDC, which lost 7.69 per cent to close at ₦4.20 per share.
Trading activity weakened on Friday, with total volume falling by 34.57 per cent to 322.04 million shares. The shares were exchanged in 37,810 deals valued at ₦20.50 billion. Zenith Bank dominated trading by both volume and value, recording 31.69 million shares worth ₦4.30 billion. The bank's transactions accounted for 9.84 per cent of the total volume traded and 20.96 per cent of the overall transaction value.
According to data from the Nigerian Exchange, Zenith Bank's significant trading activity underscores its position as a leading player in the Nigerian stock market. The bank's strong performance is reflective of investor confidence in its financial stability and growth prospects. Overall, the market's rebound on Friday suggests a positive outlook for the Nigerian stock market, driven by improved investor sentiment and gains in key stocks.
Key points
- The Nigerian stock market ended a seven-day losing streak with a ₦209 billion gain.
- The market capitalisation rose by 0.13 per cent to ₦161.260 trillion.
- Zenith Bank dominated trading by both volume and value, recording 31.69 million shares worth ₦4.30 billion.
