By Favour Pius
The Nigerian equities market closed on a positive note as the Nigerian Exchange Limited (NGX) advanced by 0.41 per cent, driven by gains in large-cap stocks, with Airtel Africa Plc emerging as the top gainer.
Market data showed that the NGX All-Share Index (ASI) recorded modest growth at the close of trading, extending bullish sentiment in the equities market amid sustained investor interest in telecom and technology-related stocks.
CWG Plc dominated trading activity, accounting for a significant share of total volume exchanged on the bourse, as investors intensified positioning in the stock.
Analysts attributed the market’s positive performance to renewed buying interest in fundamentally strong counters and continued portfolio rebalancing by institutional investors.
“Airtel’s rally significantly boosted market capitalisation, while heightened activity in CWG reflects growing appetite for technology stocks,” a Lagos-based stockbroker said.
The gains recorded by Airtel Africa helped offset losses in some medium- and small-cap stocks, sustaining the market’s upward trajectory despite cautious sentiment in parts of the market.
Trading activity improved during the session, with investors exchanging millions of shares across key sectors including telecommunications, banking and industrial goods.
Market watchers said the strong activity in CWG suggests increasing confidence in the technology segment, which has continued to attract investor attention amid Nigeria’s expanding digital economy.
Despite the positive close, analysts warned that market volatility could persist as investors weigh macroeconomic concerns such as inflation, interest rates and exchange rate fluctuations.
They noted that profit-taking in recently appreciated stocks could also moderate gains in subsequent trading sessions.
However, the broader outlook for the equities market remains positive, supported by expectations of improved corporate earnings, ongoing economic reforms and sustained domestic investor participation.
The latest performance further highlights the growing influence of telecom and technology stocks in shaping market direction, as investors increasingly seek exposure to sectors seen as resilient to economic headwinds.
