NGX Records N134.49bn Turnover As Market Capitalisation Falls By N2.42tn

The Nigerian Exchange (NGX) closed the trading week on a bearish note as investors traded 2.324 billion shares worth N134.49bn in 249,328 deals, while the market shed approximately N2.42tn in value amid broad-based declines across key indices.

Market data released by the Exchange showed that total trading activity declined compared to the previous week, when investors exchanged 3.075 billion shares valued at N254.61bn in 287,157 deals. This represents a 24.4 per cent decline in trading volume, a 47.2 per cent drop in transaction value and a 13.2 per cent decrease in the number of deals executed during the week.

The benchmark NGX All-Share Index (ASI) declined by 1.65 per cent to close at 232,049.02 points from the previous week’s level, while market capitalisation fell by 1.60 per cent to N148.95tn, reflecting a loss of about N2.42tn in investors’ wealth.

Sector performance was largely negative, with most sectoral indices ending the week in the red. However, the NGX Corporate Governance Index gained 2.40 per cent, while the NGX Banking Index advanced 3.51 per cent. The NGX AFR Bank Value Index appreciated by 3.28 per cent, the NGX AFR Dividend Yield Index rose by 9.93 per cent, and the NGX MERI Value Index recorded a modest gain of 0.56 per cent.

Trading activity was dominated by the financial services sector, which accounted for 1.523 billion shares valued at N47.54bn in 105,230 deals. The sector contributed 65.53 per cent of total trading volume and 35.35 per cent of the total value traded, maintaining its position as the market’s most active sector.

The Information and Communications Technology (ICT) sector ranked second with 198.821 million shares worth N32.62bn exchanged in 29,905 deals. The Consumer Goods sector followed with a turnover of 151.635 million shares valued at N10.93bn across 23,951 deals.

Among individual equities, Access Holdings Plc, Fidelity Bank Plc and Chams Holding Company Plc emerged as the most actively traded stocks by volume. Together, they accounted for 485.749 million shares valued at N7.66bn in 17,843 deals, representing 20.90 per cent of the total trading volume and 5.69 per cent of the market’s turnover value.

Market breadth remained negative despite an improvement from the previous week. Twenty-two listed equities recorded price appreciation, up from 11 gainers recorded a week earlier. However, 57 stocks closed lower, although this was an improvement from the 78 decliners posted in the preceding week. Meanwhile, 67 equities closed unchanged, compared with 57 in the previous week.

The week’s performance suggests investors remained cautious amid prevailing market conditions, even as selective buying interest in banking and value stocks provided some support to the broader market.