AN investment analyst and stockbroker, Mr Tajudeen Olayinka, has projected a modest recovery in the equities market next week, following signs of late-week stabilisation after recent profit-taking and volatility.
Olayinka, founder of Wyoming Capital and Partners Ltd., gave the outlook in an interview with the News Agency of Nigeria (NAN) on Saturday in Lagos, noting that recent market movements point to a gradual return of bargain-hunting activity.
He said the market was unlikely to experience a strong or aggressive rally, but could record moderate gains driven by selective buying in undervalued stocks.
According to him, the earlier slowdown was triggered by the exhaustion of a short-lived rally at the start of the week, which led to profit-taking, particularly in large-cap equities.
He added that although the market recorded a modest recovery toward the end of the week, it had yet to fully regain the level seen in the previous trading week.
“What we expect is a mild rally, with bargain hunting and profit-taking happening side by side,” he said.
Olayinka attributed the earlier decline to a lack of fresh market-moving triggers, which reduced trading momentum and encouraged investors to lock in gains.
He, however, expressed optimism that upcoming developments, including the expected Initial Public Offering (IPO) by the Dangote Group in September, could stimulate activity and improve investor sentiment.
“Those developments could help make the market healthier in terms of activities,” he added.
Despite recent fluctuations, the analyst said the Nigerian stock market remained fundamentally attractive to investors.
Meanwhile, data from the Nigerian Exchange Ltd. (NGX) showed that the All-Share Index and market capitalisation declined by 0.25 per cent and 0.23 per cent respectively, closing the week at 249,712.37 and N160.077 trillion.
This compares with the previous week’s 250,330.92 and N160.443 trillion, representing a loss of about N366 billion in market value.
Market activity also weakened, with total turnover dropping to 3.875 billion shares worth N161.757 billion in 334,745 deals, compared with 7.772 billion shares valued at N374.040 billion in 402,945 transactions the previous week.
The financial services industry led trading activity, accounting for 2.410 billion shares worth N69.712 billion in 126,919 deals, representing 62.19 per cent of total volume and 43.10 per cent of total value.
It was followed by the services industry with 409.306 million shares, while the oil and gas sector ranked third with 294.859 million shares traded.
Top three equities by volume were Sterling Financial Holdings Company Plc, Fidelity Bank Plc and Access Holdings Plc, which together accounted for 1.092 billion shares.
In price movement, 38 equities appreciated during the week, lower than 74 in the previous week, while 55 declined and 53 remained unchanged.
Leading gainers included Associated Bus Company Plc, Academy Press Plc and University Press Plc, while Sovereign Trust Insurance Plc and Chemical and Allied Products Plc were among the top losers.
The NGX also announced the listing of the April 2026 Federal Government of Nigeria (FGN) Savings Bonds on May 18, alongside the listing of an additional 882,064,158 ordinary shares of Eterna Plc on May 20.(NAN)
A.I
May 23, 2026
Tags: Mr Tajudeen Olayinka Wyoming Capital and Partners Ltd.
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