Market positive factors N2.44tn as ICT, banking shares drive surge

The Nigerian Alternate Restricted closed the week on a excessive, with ICT and banking shares driving the market up by N2.44tn. The All-Share Index gained 2.45 per cent to 147,040.08 factors, whereas market capitalisation rose 2.67 per cent to N93.722tn.

Investor exercise picked up sharply, with a complete turnover of 6.617bn shares price N113.224bn altering palms in 109,590 offers through the week, up from 4.140bn shares valued at N115.889bn exchanged in 102,351 offers the earlier week. The ICT business, measured by quantity, led market exercise with 3.500bn shares valued at N17.759bn traded in 11,184 offers, representing 52.89 per cent of whole fairness turnover quantity and 15.68 per cent of turnover worth.

The monetary companies business was the following most energetic sector, recording 2.625bn shares price N50.188bn in 42,574 offers, whereas the companies business ranked third with 104.524m shares valued at N1.166bn in 7,255 offers. Buying and selling within the three most energetic shares—E-Tranzact Worldwide Plc, Cornerstone Insurance coverage Plc, and Entry Holdings Plc—accounted for 4.871bn shares valued at N27.422bn in 6,438 offers, contributing 73.60 per cent of turnover quantity and 24.22 per cent of turnover worth.

Market breadth was optimistic, as 55 equities appreciated in value through the week, up from 38 per week earlier. Twenty-nine equities declined, down from 36 beforehand, whereas 63 shares closed unchanged in contrast with 73 within the prior week. Sectoral indices had been largely firmer: the economic items index led positive factors with a 7.38 per cent rise, and the premium index jumped 5.50 per cent. Conversely, the Oil and Gasoline and Commodity indices fell by 0.57 per cent and 0.30 per cent, respectively.

On the exchange-traded merchandise market, buyers traded 411,382 items valued at N105.657m in 1,022 offers, up from 214,478 items price N54.458m in 761 offers the earlier week. Main ETPs by quantity included VETINDETF (96,978 items, N5.79m), VETGRIF30 (82,739 items, N5.13m), and VETGOODS (78,049 items, N3.36m). The StanbicETF30 recorded the biggest worth traded at N82.45m on 53,752 items transacted.

Mounted earnings turnover additionally improved as bond buying and selling amounted to 410,186 items valued at N443.071m throughout 54 offers, versus 117,523 items valued at N120.742m in 38 offers per week earlier.

Company and authorities listings through the week additionally formed market exercise. Ecobank Transnational Integrated listed an extra 5,381,656,222 unusual shares following conversion of choice shares, worker share choice workout routines, and mortgage conversions, growing its issued share capital to 23,731,207,437 unusual shares of $0.025 every.

Moreover, Industrial and Medical Gases Plc listed 181,621,214 unusual shares arising from its rights concern, lifting its whole issued shares to 731,064,226. The Federal Authorities’s November 2025 financial savings bonds, FGS202702 (13.565 per cent, two-year) and FGS202803 (14.565 per cent, three-year), had been additionally admitted to buying and selling; the difficulty sizes had been N958.416m and N2.874664bn, respectively.

Buying and selling in Champion Breweries Plc’s rights opened on Monday. The rights concern provides 994,221,766 unusual shares at N16.00 per share on the premise of 1 new share for each 9 held; the supply closes on 5 January 2026.

Analysts mentioned the weekly positive factors mirrored year-end portfolio rebalancing and renewed investor confidence, with aggressive positioning within the ICT and banking sectors amplifying volumes and lifting costs throughout the board. Market watchers might be monitoring liquidity flows and company actions as buyers search to lock in positive factors earlier than the 12 months closes.

Analysts at Afrinvest acknowledged that, trying forward, they anticipate the market to maintain the optimistic begin to December, pushed by bargain-hunting and the rebound in key sectors. Nonetheless, intermittent profit-taking and year-end portfolio changes could mood optimistic sentiment.