NGX Records N252.57bn Turnover As Index Rallies 6.95%

The Nigerian equities market sustained its bullish momentum last week as investors traded a total of 7.662 billion shares valued at N252.57bn in 345,118 deals on the floor of the Nigerian Exchange Limited (NGX).

This represents a significant improvement over the previous week, when 4.652 billion shares worth N193.33bn were exchanged in 286,751 deals, reflecting stronger investor participation and increased market liquidity.

Market performance was broadly positive, with the NGX All-Share Index (ASI) gaining 6.95 per cent to close at 194,989.77 points.

Market capitalisation rose in tandem, appreciating to N125.16trn by the end of the week.
Most sectoral and thematic indices closed in positive territory, underscoring the strength of the rally.

However, the NGX Growth Index bucked the trend, declining by 15.06 per cent, while the NGX Sovereign Bond Index finished flat.

Sectoral analysis by volume showed that the Financial Services Industry maintained its dominance, accounting for 5.625 billion shares valued at N113.59bn in 129,729 deals.

The sector contributed 73.41 per cent and 44.98 per cent to the total equity turnover volume and value, respectively.

The Services Industry followed with 493.131 million shares worth N5.87bn traded in 30,396 deals, while the Oil and Gas Industry ranked third with 425.657 million shares valued at N35.74bn in 23,136 deals.

Activity in the top three most traded equities by volume FCMB Group Plc, Access Holdings Plc and Zenith Bank Plc, accounted for 3.594 billion shares worth N69.147bn in 33,802 deals.

Collectively, the trio contributed 46.90 per cent and 27.38 per cent to the total equity turnover volume and value, respectively, highlighting sustained investor interest in banking stocks.

Despite the overall market rally, breadth indicators showed a slight moderation compared to the preceding week. A total of 71 equities recorded price appreciation, lower than the 79 gainers posted in the previous week. Conversely, 41 equities declined in price, higher than 27 recorded earlier, while 36 equities closed unchanged, down from 42 in the prior week.

The week’s performance reflects continued investor optimism, particularly in the financial services segment, amid improved liquidity and sustained demand for blue-chip stocks.

Market analysts say the sustained upward trajectory of the ASI suggests renewed confidence in the equities market, although the divergence in sectoral performance indicates selective positioning by investors.