NGX Turnover Falls 22% To N123.22bn, Index Gains 0.81%

Trading activity on the Nigerian Exchange Limited (NGX) declined sharply during the week, with total market turnover falling to 2.507 billion shares valued at N123.22bn as investors traded across four sessions.

The decline in trading activity followed the Federal Government’s declaration of Tuesday, August 25, 2026, as a public holiday to commemorate Eid-el-Maulud, resulting in a shortened trading week.

A total of 2.507 billion shares exchanged hands in 173,561 deals during the week, compared with 6.242 billion shares worth N157.764bn traded in 186,496 deals in the preceding week.

Despite the lower trading volume, the domestic equities market closed the week on a positive note, with the NGX All-Share Index (ASI) appreciating by 0.81 per cent to close at 241,298.47 points.

Similarly, the NGX market capitalisation rose by 0.84% to N155.83tn, indicating a positive shift in overall market valuation despite the reduction in trading activity.

The weekly performance suggests that investor sentiment remained relatively positive, with gains in several market segments helping to lift the benchmark index, even as activity levels moderated because of the shortened trading calendar.

However, performance across sectoral and thematic indices was mixed. While most indices recorded gains during the week, the NGX Main Board, NGX Insurance, NGX MERI Growth, NGX Consumer Goods, NGX Lotus II, NGX Industrial Goods and NGX Growth indices recorded declines of 0.10 per cent, 0.63per cent 2.21 per cent, 0.67 per cent, 1.03 per cent, 0.22 per cent and 1.56 per cent respectively.

The Financial Services Industry remained the dominant segment of the market by volume, accounting for 1.977 billion shares valued at N71.56bn traded in 79,586 deals.

The sector contributed 78.87 per cent of total equity turnover volume and 58.08 per cent of turnover value during the week, underscoring the continued dominance of banking and other financial services stocks in overall market activity.

The Services Industry ranked second, with 148.226 million shares worth N7.25bn traded in 10,638 deals, while the Information and Communication Technology (ICT) Industry occupied the third position with 117.982 million shares valued at N8.635 billion exchanged in 21,639 deals.

Activity was also concentrated in a handful of highly traded equities. Fortis Global Insurance Plc, Jaiz Bank Plc and First Holdco Plc emerged as the three most actively traded stocks by volume, jointly accounting for 793.104 million shares valued at N26.89bn in 14,758 deals.

The three equities represented 31.64 per cent of total equity turnover volume and 21.83 per cent of total turnover value for the week.

Market breadth also improved compared with the previous week, reflecting stronger price performance across a broader number of listed equities.

A total of 24 equities appreciated in price during the week, compared with 18 equities in the previous week. Conversely, 55 equities recorded price declines, down from 59 equities in the preceding week.

Meanwhile, 68 equities closed unchanged, compared with 70 equities that recorded no price movement in the previous week.

The combination of a positive ASI performance, higher market capitalisation and improved market breadth indicates that investors maintained a relatively constructive stance despite the reduced number of trading sessions.

The shortened trading week, however, resulted in lower turnover compared with the previous week, particularly in the number of shares traded and the number of deals executed.

With the market closing at 241,298.47 points and total market capitalisation at N155.8tn, investors will be watching subsequent sessions for further evidence of sustained buying interest and whether the recent positive momentum can be maintained across major sectors.