The Nigerian Exchange (NGX) witnessed heightened trading activity this week, with a total turnover of 3.89bn shares valued at N87.75bn transacted across 43,868 deals.
This marks a significant increase compared to last week’s 3.19bn shares worth N54.85bn exchanged in 45,112 deals, reflecting improved investor participation and robust market activity.
The NGX All-Share Index (ASI) and Market Capitalization closed the week with gains, appreciating by 0.72 per cent to settle at 98,210.75 points and N59.53trn, respectively.
Broadly, most indices recorded positive performances, signalling increased market confidence. However, the NGX Main Board, NGX Growth, and NGX Sovereign Bond indices recorded marginal declines of 0.39 per cent, 0.15 per cent, and 0.06 per cent, respectively, while the NGX ASeM index remained unchanged.
The Financial Services Industry dominated market activity, accounting for 69.58 per cent of the total equity turnover volume and 58.15 per cent of the value. A total of 2.71 billion shares worth N51.03bn were traded in 20,017 deals, solidifying its position as the most active sector.
The Consumer Goods Industry ranked second, with 403.66 million shares valued at N3.84bn traded in 4,239 deals. It was followed by the Industrial Goods Industry, which recorded a turnover of 198.36m shares worth N10.33bn in 4,606 deals.
FBN Holdings Plc, Wema Bank Plc, and Fidelity Bank Plc emerged as the most actively traded stocks during the week. Together, these three equities accounted for a combined total of 1.63bn shares valued at N28.98bn across 3,226 deals.
This represents 41.74 per cent of the total equity turnover volume and 33.03 per cent of the total value, underscoring their significance in driving market activity.
Investor sentiment was notably positive, with 51 equities recording price appreciation, compared to 32 in the previous week. On the downside, 30 equities experienced price declines, significantly fewer than the 46 recorded the prior week. Meanwhile, 72 equities closed the week unchanged, slightly lower than last week’s tally of 75.
The increased trading activity and positive performance of key indices highlight the resilience of the Nigerian equity market amid evolving economic conditions.
The strong participation of institutional and retail investors, particularly in the Financial Services Industry, underscores the NGX’s role as a vital platform for capital formation and investment growth.
As market confidence continues to build, stakeholders will be keenly monitoring developments in the coming weeks, particularly in light of ongoing economic reforms and global market trends.