EQUITIES: Investors’ gains skyrocket ahead of Q3 earnings, Sept inflation data

By Peter Egwuatu  

Investors raked N2.16 trillion profit, highest week-on-week so far and the fifth consecutive week upswing, coming ahead of the third quarter 2025, Q3’25, earnings report and inflation data for September.

Specifically, the Nigerian Exchange Limited, NGX, market capitalisation, which shows the total value of equities on the Exchange, closed on Friday at N93.296 trillion against N91.135 trillion the previous week.

Similarly, another major stock market gauge, NGX All Share Index, ASI gained 2.4% to close at N146,988.04 points from 143584.04 points the previous week.

Analysts noted that all eyes are on economic data and Q3 company earnings report  that will start rolling in any moment from next week, beginning with early filers.

Meanwhile, activities of trading last week showed that gains in MTN Nigeria  by 10.8%, Dangote Cement 9.5%, Seplat  10.0%), WAPCO 2.7%, and STANBIC IBTC 2.3% propelled the NGX ASI to move higher.  

Consequently, the Month-to-Date, MtD and Year-to-Date, YTD returns strengthened to +3.0% and +42.8%, respectively. 

However, overall market activity moderated, with trading volume and value declining by 72.8% W/W and 21.1% W/W, respectively. 

Across sectors, performance was broadly positive, with the Industrial Goods Index rising by 4.2%, Insurance Index 3.7%, Oil & Gas Index  2.9%, and Consumer Goods Index moving by 0.8%, while the Banking Index declined by -0.4% to close lower.

Analysts at Cordros Research stated: “Looking ahead, market sentiment is expected to remain broadly positive, driven by projections of strong third-quarter corporate earnings that could validate the underlying resilience of corporate fundamentals. At the same time, investors will closely monitor September inflation data, as further moderation could boost the probability of a Monetary Policy Committee, MPC rate cut in November”.

Similarly, in their projection for the week, analysts at InvestData Consulting Limited said: “We expect mixed sentiment on the back of the oncoming earnings season and profit taking in the midst of bargain hunting and portfolio repositioning ahead of Q3 corporate earnings reports and ongoing sector rotation, with all eyes are on September consumer price index reports.

However, pullbacks will create ‘buy’ opportunities amidst improving macroeconomic indices, just as more economic reforms will boost growth, a situation expected to support investment and market direction eventually”.

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