The Nigerian equities market closed the week on a positive note, extending its rally as the benchmark index rose by 0.31%, pushing the year-to-date return to 30.96%.
Despite the upward movement, market activity weakened, with trading volume declining by 15.95%, reflecting subdued investor participation.
Total trade value also dropped sharply by 21.10% compared to the previous session. Market breadth closed negative, as 40 decliners outweighed 26 gainers, signaling a mildly bearish undertone despite the overall index gain.
In terms of individual stock performance, TRANEXPR and INTBREW emerged as the top gainers, while OMATEK led the laggards, followed by AUSTINLAZ. Sectoral analysis showed that the consumer goods sector outperformed the broader market, buoyed by gains in brewery stocks.
Corporate disclosures during the session were largely driven by governance and operational updates. These included board changes announced by SUNU Assurances, an Annual General Meeting notice from Zenith Bank, and the release of financial results by International Breweries, alongside routine filings from other listed companies.
Currency Market
In the foreign exchange market, the naira weakened slightly against the US dollar, with the USD/NGN pair rising by 0.1% to close at ₦1,360.00. However, the naira showed relative strength over broader periods, appreciating by 1.5% week-to-date, 1.3% month-to-date, and 4.8% year-to-date.
Nigeria’s foreign reserves remained steady at $48.89 billion, supported by sustained interventions by the Central Bank of Nigeria and a strong recovery trend observed earlier in 2026.
Meanwhile, global oil prices declined, with Brent crude falling by 2.7% to settle at $95.89 per barrel. The drop followed reports of a ceasefire and de-escalation talks between the United States and Iran, which prompted investors to unwind geopolitical risk premiums, triggering a sell-off in the oil market.
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