NGX Posts N164.85bn Turnover, Market Capitalisation Hits N127.36trn

Investors traded a total of 3.321 billion shares valued at N164.845bn in 318,907 deals on the Nigerian Exchange Limited during the week, representing a decline in both volume and value compared to the previous week.

Market data showed that the week’s turnover was lower than the 3.695 billion shares worth N177.687bn exchanged in 370,980 deals recorded in the preceding week, indicating a moderation in trading activity on the Exchange.

Despite the decline in transaction volume, the broader market ended the week on a positive note as the NGX All-Share Index and market capitalisation advanced by 0.73 per cent to close at 198,407.30 basis points and N127.361trn, respectively.

However, performance across sectoral indices was largely negative during the week.

Most indices closed lower with the exception of NGX Main Board, NGX 30, NGX Consumer Goods, NGX Oil & Gas, NGX Industrial Goods, and NGX Sovereign Bond, which recorded gains.

Market breadth remained weak as 61 equities declined in price, higher than the 58 decliners recorded in the previous week, reflecting persistent profit-taking across several counters.
Conversely, 34 equities appreciated in price, lower than the 44 gainers posted in the prior week, while 53 equities closed flat, compared with **46 equities that recorded no price movement a week earlier.

Sectoral analysis showed that the Financial Services Industry dominated trading activities on the Exchange.

The sector accounted for 2.179 billion shares valued at ₦59.809bn in 124,992 deals, contributing 65.61 per cent and 36.28 per cent to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with a turnover of 207.690 million shares worth N27.606bn in 32,820 deals, while the Consumer Goods Industry ranked third with 189.633 million shares valued at ₦11.852bn in 34,288 deals.

A further breakdown of trading activity showed that the top three most traded equities by volume, Access Holdings Plc, Fortis Global Insurance Plc, and First Holdco Plc, collectively accounted for 677.312 million shares worth N14.561bn in 17,346 deals.

The trio contributed 20.39 per cent and 8.83 per cent to the total equity turnover volume and value respectively, underscoring their significant influence on overall market activity during the week.

The weekly performance reflects sustained investor interest in financial services stocks, even as the broader market experienced mixed sentiment and reduced trading volumes compared to the previous week.