Equities Records N207.52bn Turnover As Market Capitalisation Rises To N156.97tn

The Nigerian Exchange Limited (NGX) sustained its bullish momentum during the week, with investors trading shares worth N207.52bn as market capitalisation advanced to N156.97tn amid renewed interest in banking and financial services stocks.

Data from the NGX showed that a total of 4.964 billion shares valued at N207.52bn were exchanged in 235,966 deals during the four trading sessions of the week, representing an increase from the 3.966 billion shares worth N175.66bn traded in 343,587 deals in the preceding week.

The market operated for four trading days following the Federal Government’s declaration of Friday, June 12, 2026, as a public holiday to commemorate Democracy Day.

At the close of trading, the benchmark NGX All-Share Index (ASI) appreciated by 0.88 per cent to settle at 244,738.74 basis points, while the overall market capitalisation rose correspondingly to N156.97tn, reflecting improved investor sentiment and sustained demand for selected equities across key sectors.

The positive performance extended to most sectoral and thematic indices. However, a number of indices closed lower during the week.

The NGX Pension Index declined by 0.03 per cent, while the NGX AFR Bank Value Index shed 1.20 per cent. The NGX MERI Growth and NGX MERI Value indices fell by 0.21 per cent and 1.61 per cent respectively.

Similarly, the NGX Consumer Goods Index lost 0.54 per cent, the NGX Lotus II Index dropped 0.51 per cent, while the NGX Industrial Goods Index depreciated by 1.00 per cent.

The NGX Sovereign Bond Index recorded the steepest decline, falling by 2.04 per cent, while the NGX Commodity Index dipped by 0.34 per cent. One of the market indicators closed flat during the period under review.

Analysis of trading activity revealed that the Financial Services sector remained the major driver of market turnover.

The sector accounted for 4.116 billion shares valued at N84.607bn traded in 96,165 deals, representing 82.92 per cent of the total equity volume and 40.77 per cent of total market value traded during the week.

The Services Industry ranked second with 232.479 million shares worth N4.96bn exchanged in 17,614 deals, while the Industrial Goods sector occupied third position with 144.988 million shares valued at N39.08bn traded in 24,775 deals.

Further analysis showed that three financial stocks, Sterling Financial Holdings Company Plc, FCMB Group Plc and Access Holdings Plc, dominated trading activity by volume.

The trio accounted for a combined turnover of 2.883 billion shares worth N36.19bn in 15,533 deals.

Their combined transactions represented 58.09 per cent of the total volume of shares traded on the Exchange and 17.44 per cent of the total value traded, underscoring the continued investor appetite for banking and financial services equities.

Market breadth also improved significantly during the week, reflecting stronger buying interest across the market.

Forty equities recorded price appreciation, compared with 23 gainers in the preceding week.

On the other hand, 53 equities posted price declines, lower than the 65 decliners recorded in the previous week. Meanwhile, 53 equities closed unchanged, compared with 58 stocks that maintained their prices in the prior week.

Market analysts said the positive market performance despite the shortened trading week indicates sustained investor confidence, supported by attractive corporate earnings, dividend expectations and ongoing portfolio repositioning by institutional and retail investors.

They noted that the dominance of financial services stocks in market activity continues to reflect the sector’s importance in driving liquidity and investor participation on the Nigerian bourse, even as investors remain selective in positioning across sectors amid evolving macroeconomic conditions.