Investment researchers at Bancorp Securities Limited, one of Nigeria’s stockbroking and investment consultancy firms, have projected that the Nigerian equities market would maintain its bullish momentum in the near term.
The experts, who made the projection in the firm’s ‘Weekly Stock Recommendation for 04 -08th August 2025’ circulated to our correspondent on Monday, hinged their forecast on the local bourse’s performance on strong earnings releases, dividend expectations, and positive technical indicators, though intermittent profit-taking and macroeconomic headwinds may temper the pace of gains.
They recalled that last week the equities market, as expected, sustained its bullish run, supported by bargain hunting and strong corporate earnings released by listed companies as at the close of trading sessions last Friday, with notable gains in BUACEMENT, MTNN, WAPCO, UACN, and WEMABANK, among others.
According to the market data from the Nigerian Exchange Group (NGX), the gains pushed the NGX All-Share Index (NGX-ASI) to a new high of 141,263.05 points, closing 5.07% higher week-on-week even as the market capitalization appreciated by N4.32 trillion, to settle at N89.37 trillion at the end of the week.
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A further analysis of the data indicated that the trading activity in the exchange strengthened further, with total volume traded and value traded increasing by 31.32% and 33.40%, respectively, to 4.85 billion units valued at N149.75 billion, across 174,265 deals.
The Bancorp experts noted that from a technical standpoint, the weekly up/down (UD) volume ratio rose to 1.18x, from 0.94x in the prior week, indicating more volume flowed into advancing stocks than into decliners compared to the TRIN (Trader’s Index) declined to 0.97x from 1.13x, reinforcing the bullish sentiment.
They pointed out that together, these indicators suggested that the current rally had broad-based participation and strong underlying momentum.
On the outlook for equities market this week, the investment experts anticipated that based on the prevailing macroeconomic indices and other factors in the economy “the Nigerian equities market is expected to maintain its bullish momentum in the near term, supported by strong earnings releases, dividend expectations, and positive technical indicators, though intermittent profit-taking and macroeconomic headwinds may temper the pace of gains.”
