The Nigerian stock market witnessed a significant surge in trading activity last week, as investors exchanged a total of 3.28 billion shares valued at N63.52bn across 60,782 deals on the floor of the Nigerian Exchange (NGX).
This marks a substantial increase from last week’s total of 1.818 billion shares worth N47.23bn, which were traded in 64,222 deals.
Despite the heightened trading volume, the market closed in negative territory, with the NGX All-Share Index (ASI) declining by 0.55 per cent to settle at 105,955.13 points, while market capitalisation dropped to N66.35trn.
The broader market performance reflected this downward trend, as most indices finished lower. However, some sectors showed resilience, including the NGX Insurance Index, which gained 0.89 per cent, the NGX ASeM Index, which rose by 0.04 per cent, and the NGX MERI Growth Index, which also appreciated by 0.89 per cent. The NGX Consumer Goods Index and the NGX Commodity Index recorded marginal gains of 0.03 per cent and 0.02 per cent, respectively.
The financial services industry dominated trading activity once again, recording a total volume of 2.302 billion shares worth N25.014bn in 27,625 deals.
This sector accounted for 70.17 per cent of the total equity turnover volume and 39.38 per cent of the total value. Following behind was the consumer goods industry, where investors traded 421.846 million shares valued at N3.796bn across 6,149 deals.
The service industry ranked third, with a total turnover of 228.075 million shares worth N800.274m in 4,741 deals.
Three equities—Sovereign Trust Insurance Plc, Champion Breweries Plc, and Jaiz Bank Plc—led the market in terms of trading volume. Combined, these stocks accounted for 1.621 billion shares worth N3.244bn, exchanged in 1,528 deals. This represented 49.42 per cent of the total equity turnover volume and 5.11 per cent of the market’s total value for the week.
Investor sentiment showed signs of improvement, as 38 stocks recorded price appreciation compared to 30 gainers in the previous week. At the same time, 46 stocks saw price declines, a slight improvement from the 58 declines recorded last week. A total of 66 stocks remained unchanged, up from 62 in the prior week.
The mixed performance of the NGX reflects an investment landscape characterised by increased trading activity but also cautious sentiment amid broader economic conditions.
Analysts suggest that while trading volumes remain strong, the market direction in the coming weeks will be shaped by macroeconomic developments, corporate earnings reports, and regulatory policies.
NGX Records N63.52bn Turnover As Insurance, Other Sectors Show Resilience is first published on The Whistler Newspaper
Source: The Whistler
