Equities Market Records N494.1bn Turnover As NGX Index Gains 0.20%

The Nigerian Exchange (NGX) closed the trading week on a positive note as investors exchanged 7.684 billion shares valued at ₦494.13bn across 116,645 deals, representing a significant increase compared to 2.735 billion shares worth ₦85.20bn traded in 127,284 deals the previous week.

Market performance indicators also reflected the uptrend, with the NGX All-Share Index rising by 0.20 per cent to settle at 142,133.03 points, while market capitalization advanced by 0.24 percent, closing the week at ₦89.96trn.

A sectoral breakdown showed mixed performances across indices.

While most closed in positive territory, declines were recorded in NGX CG (-0.08 per cent), NGX Pension (-0.15 per cent), NGX Insurance (-0.91 per cent), NGX MERI Growth (-0.35 per cent), NGX Oil & Gas (-1.62 per cent), NGX Lotus II (-0.52 per cent), NGX Pension Broad (-0.07 per cent), and NGX Commodity (-0.91 per cent) indices.

Both the NGX ASeM and NGX Sovereign Bond indices remained flat.

The Financial Services Industry dominated trading activity by volume, accounting for 6.399 billion shares worth ₦71.81bn in 54,799 deals.

This represented 83.27 per cent and 14.53 per cent of the total equity turnover volume and value respectively.

The Oil and Gas sector ranked second with 730.52 million shares worth ₦391.36bn in 7,059 deals, while the Services Industry followed with 128.65 million shares valued at ₦962.91m exchanged in 5,863 deals.

Unity Bank Plc, Aradel Holdings Plc, and Consolidated Hallmark Holdings Plc emerged as the top three most traded equities during the week.

Together, they accounted for 5.209 billion shares worth ₦404.95bn in 2,667 deals, contributing 67.79 percent and 81.95 percent to the total equity turnover volume and value respectively.

Despite the overall market gain, the breadth closed negative as 32 equities appreciated in price, lower than 40 recorded the previous week.

In contrast, 51 equities declined, up from 41 the week before, while 64 remained unchanged, slightly below the 66 recorded in the preceding week.