Nigerian Equities Surge with N8.14 trillion gain as ASI hits 194,989 points, boosted by oil prices and rising investor confidence

Nigeria’s equities market recorded its strongest week-on-week performance of 2026, driven by robust buying across major sectors and firming global oil prices, according to data from the Nigerian Exchange Limited.

Also read: Nigerian Designer Sheriff Shittu Shot Dead in New York Nightclub

Investors collectively gained more than N8.137 trillion in market value over the week, reflecting heightened demand for listed equities.

Market capitalisation climbed to N126.164 trillion, up from N117.027 trillion the previous week, marking the highest valuation recorded this year.

The surge was underpinned by selective institutional accumulation and renewed positioning in fundamentally strong stocks.

The NGX All-Share Index advanced 6.95 percent W/W to close at 194,989.77 points, compared to 182,313.08 points the prior week.

Analysts attributed the sharp rise to strengthening investor confidence amid improving corporate earnings expectations and supportive macroeconomic signals.

Global crude oil prices added momentum to the rally.

Brent crude traded above $71 per barrel, while West Texas Intermediate hovered near $66 per barrel, influenced by heightened geopolitical tensions in the Middle East.

Analysts noted that stronger oil prices enhance Nigeria’s fiscal stability and bolster foreign investor sentiment toward domestic equities.

Trading activity surged significantly, with total volume and value rising 148.4 percent and 87.1 percent W/W, respectively.

Sectoral performance was broadly positive, led by the Industrial Goods Index with a 10.1 percent increase, followed by Oil & Gas at 8.7 percent, Consumer Goods at 6.1 percent, Banking at 5.7 percent, and Insurance at 4.7 percent.

Looking ahead, analysts at Cordros Capital expect investor sentiment to be shaped by audited earnings releases and dividend announcements across sectors such as cement, telecommunications, oil and gas, and consumer goods.

Market participants will also monitor the upcoming Monetary Policy Committee meeting of the Central Bank of Nigeria, with expectations of a 50-basis-point policy rate reduction to 26.5 percent.

InvestData Consulting Limited analysts maintained a constructive near- to medium-term outlook, citing sustained institutional positioning, supportive oil prices, and positive earnings expectations as potential upside catalysts.

They advised caution around short-term volatility due to profit-taking but noted pullbacks could present re-entry opportunities for fundamentally sound stocks.

Also read: UNESCO REF and UAPP Partner to Fund Nigerian Students Abroad

As long as the NGX All-Share Index sustains levels above the 190,000-point threshold, analysts believe the broader bullish trajectory remains intact, positioning Nigeria’s equities market for continued gains in the coming weeks.