NGX Market Cap Rises To N157tn Amid N324bn Turnover

Investors traded a total of 7.075 billion shares valued at N324.35bn in 474,436 deals on the Nigerian Exchange (NGX) during the week, representing a significant increase compared to the 4.842 billion shares worth N287.76bn exchanged in 332,453 deals in the previous week.

Market performance remained positive as the NGX All-Share Index (ASI) advanced by 0.71 per cent to close at 244,775.83 points, while market capitalisation appreciated to N157.09trn at the end of the trading week.

Most sectoral and thematic indices closed in positive territory.

However, the NGX Consumer Goods Index declined by 0.26 per cent, while the NGX Premium Index fell by 1.69 per cent. The NGX Pension Index also dipped by 0.60 per cent.

Similarly, the NGX AFR Bank Value Index, NGX MERI Growth Index, NGX MERI Value Index, NGX Oil & Gas Index, and NGX Commodity Index depreciated by 2.12 per cent, 0.16 per cent, 2.80 per cent, 3.27 per cent, and 2.26 per cent respectively. The NGX Sovereign Bond Index closed flat during the period under review.

Analysis of trading activity showed that the Financial Services Industry dominated the market by volume, accounting for 4.260 billion shares valued at N131.48bn traded in 179,609 deals.

The sector contributed 60.22 per cent and 40.54 per cent to the total equity turnover volume and value respectively.

The Information and Communications Technology (ICT) Industry ranked second on the activity chart with 769.239 million shares worth N45.32bn traded in 61,820 deals, while the Investment Industry came third with 544.809 million shares valued at N5.78bn in 2,243 deals.

Further breakdown of trading statistics indicated that Access Holdings Plc, VFD Group Plc, and CWG Plc emerged as the three most traded equities by volume during the week.

Together, the companies accounted for 1.589 billion shares worth N30.09bn in 24,954 deals, contributing 22.46 per cent and 9.28 per cent to total equity turnover volume and value respectively.

Market breadth also strengthened during the week, with 69 equities recording price appreciation, higher than the 52 gainers recorded in the preceding week.

In contrast, 36 equities declined in price, compared with 53 losers in the previous week, while 41 equities remained unchanged.