Nigeria’s Equity Market Sustains Uptrend, Closes Week Strong, As Bulls Tighten Grip Amid Renewed Interests in Banking, Industrials, Others

Market Update For December 5, 2025

The Nigerian equities market sustained its positive momentum into the final session of the week, extending the bullish sentiment that has dominated the first trading days of December. Friday’s trading continued the pattern of renewed investor confidence and strategic positioning ahead of year-end, as market participants rebalanced their portfolios in favour of fundamentally strong counters. The uptrend gained further traction as institutional investors deepened their exposure to sectors with resilient earnings outlooks, particularly banking, industrial goods and consumer-focused names.

Across sectors, improved sentiment was evident. Hospitality and tourism stocks such as Transcorp Hotels and Ikeja Hotel witnessed another round of robust demand, reflecting investor optimism toward the sector’s recovery and revenue potential heading into the festive season. Similarly, Nigerian Breweries extended its rebound as bargain hunters took positions in anticipation of a more favourable operating environment in the coming quarters. Industrial heavyweights like Dangote Cement also added depth to the market’s positive breadth, reinforcing the stability of the day’s bullish performance.

Tier-1 banking stocks remained at the centre of trading activity, mirroring a broader shift toward counters that offer both earnings stability and attractive dividend prospects. Major financial stocks continued to attract liquidity as investors sought exposure to banks with strong capital buffers, consistent profit performance and the potential to maintain attractive payouts in 2026. This trend has been further supported by improved system liquidity and a reawakening of risk appetite despite inflationary and currency pressures.

From a technical standpoint, the market structure remains decisively bullish. The All-Share Index, now trading comfortably above its 20- and 50-day moving averages, confirms sustained buying momentum and a breakout from earlier consolidation zones. The close above the 146,000 resistance level strengthens the argument for an extended rally towards the next psychological band between 147,500 and 148,200 points. Market indicators continue to reinforce this picture. The RSI is trending upward, reflecting strong buying interest without yet crossing into extreme overbought territory. The MACD maintains its upward cross, signalling positive momentum, while fund flow indicators reveal steady inflows, suggesting that market participants are still allocating fresh capital into equities.

Fundamentally, the bullish sentiment observed throughout the week is supported by improving liquidity conditions and anticipations of corporate actions as Q4 earnings season approaches. Investors are also reacting to expectations of yield adjustments in the fixed-income segment, which could make equities more attractive in the short term. The premium placed on dividend-paying stocks has once again become central to market dynamics, with early accumulation notable in banks, cement producers and select consumer goods companies. These factors, combined with the traditional year-end performance effect, continue to shape positive investor behaviour.

On the global front, the commodities market remained relatively stable, with crude oil prices moving within a narrow band. Brent crude eased slightly to $63.19 per barrel, while WTI settled at $59.57 per barrel as traders assessed the balance between geopolitical uncertainties and supply expectations. The stalemate in Ukraine peace negotiations provided some support for price stability, though sustained output from OPEC kept the market from breaking upward. The broader financial markets also turned their attention to the forthcoming U.S. Federal Reserve meeting. A recent Reuters poll suggested that a significant majority of economists expect a 25-basis point rate cut, a move that could stimulate global economic activity and, by extension, energy demand. This expectation has helped maintain stability in oil prices despite mixed supply signals.

Looking ahead, the Nigerian market is positioned to sustain its bullish tone, supported by year-end portfolio adjustments, renewed interest in high-value counters and improving liquidity across key sectors. The sustained strength in banking and industrial stocks is expected to continue shaping market direction, though intermittent profit-taking may appear as investors reassess positions at higher price levels. Market watchers will continue to monitor developments in global commodity prices, domestic inflation trends and currency market dynamics, all of which remain influential in shaping investor sentiment.

Market Closing Summary

The market closed the week strong as the All-Share Index advanced by 1.08 percent to finish at 147,040.07 points, raising the year-to-date return to 42.86 percent. Market capitalisation increased by N996.84 billion to settle at N93.72 trillion. A total of 361.60 million shares valued at N14.84 billion were traded in 21,051 deals. Market breadth remained positive with 36 gainers against 16 decliners. UACN, Transcorp Hotels, Ikeja Hotel, Nigerian Breweries and Dangote Cement topped the gainers’ list, while Union Dicon Foods led the losers. Zenith Bank dominated the activity chart with 59.46 million units worth N3.64 billion, followed by Accesscorp and Fidelity Bank in both volume and value terms.

Invest 2026 Traders & Investors Summit

Theme: Pre-Election Year Investment Opportunities & Risks

Sub-Topics

1. Comprehensive Earnings Guide for Profitable Investing and Trading in 2026, by Mr Peter Sunday Adebola, Managing Director/CEO Edgefield Capital Management Ltd

2. Pre-Election Year Rally: How Economic Events & Tax Reforms Fuel Bull Or Bear Cases In 2026, by Mr Teriba Adeboye, MD/CEO, Qualinvest Capital ltd

3. NGX Pre-Election Year Performance & Historical Patterns:10 Golden Stocks For Profitably Investing, by Mr Ambrose Omordion, CRO. Investdata Consulting Ltd

4. Nigeria Infrastructural Gap & Fiscal Policy Reforms: Where are Investment Opportunities in 2026, by Mr Tope Ojo, Managing Partner, Tope & Tunde Estate Surveyors & Valuers

5. Investment Opportunities In The Alternative Markets In 2026 & Beyond, by Dr Sylvester Anaba (PhD, FCS) Head Research, United Capital Plc

6. The Pre-election Economy & 2016 Budget: Implementation and Impact On NGX, by Mr Abiola Rasaq, Former Head, Investor Relations & Portfolio Investments United Bank For Africa Plc   

7. NGX New Highs & Correction: The Power Of Price Action, Time & Momentum In Profitable Trading In 2026 & Beyound, by Mr Abdul-Rasheed Oshoma Momoh, ED Operations, TRW Stockbrokers Ltd  

8. Strategies For Equity Investing & Trading In A Pre-Election Year, by Mr Kebira Jimoh Aruna, MD/CEO GlobalView Capital Ltd  

Riding the tide of pre- election Years in Nigeria, 2026 is not just any year—it’s part of a powerful historical trend or pattern that should be known to smart traders or discerning investors in any investment window, market or exchange in Nigeria today. It comes with tradable opportunities and risks that are associated with elections and post-elections. The ability to navigate between politics and economy creates the wealth to makes the difference in your investment. The reading of a nation’s electoral cycle and how investors perceive whether there could be a change in leadership or continuity, is a major factor that results in much of the uncertainty in pre-election years have been known for. This, it is believed can, and does spike market volatility and businesses, especially when it is seen that a new party may take power. This summit will help market players to navigate 2026 profitably by maximizing gains and minimize losses  

Take away from this summit includes:

How to construct a resilient and Powerful Portfolio that adapts to market and economic changes.

● What to expect from the market and economy as the new tax reforms kicks off in 2026.

● Why historical patterns and trends in Nigerian election cycle is important when taking your investment decision in 2026 and beyond.

● The power of liquidity and corporate earnings in price movement.

● How to anticipate big sector moves and recovery in 2026 with ongoing reforms

● Understanding the cycle of 4 years opportunities time frames that comes with election preparation in Nigeria

● 10 golden stocks for 2026

Date: December 6, 2025

Fee: N75,000

Venue: Zoom

If you want to be among the winning investors and traders in 2026, send Yes to: 08028164085, or 08179547605 now.