The Nigerian Exchange Limited (NGX) recorded a total turnover of 3.805 billion shares valued at N213.96bn in 297,202 deals during the week, reflecting stronger trading activity compared to the previous week’s 3.588 billion shares worth N195.31bn exchanged in 254,553 deals.
Market performance remained bullish, with the NGX All-Share Index (ASI) advancing by 3.94 per cent to close at 225,722.49 basis points.
In tandem, market capitalisation rose to N145.34trn, underscoring sustained investor confidence and renewed buying interest across key sectors of the market.
Sectoral indices broadly trended upward, reinforcing the positive sentiment. However, the NGX Growth Index and NGX Commodity Index posted marginal declines of 0.02 per cent and 0.41 per cent respectively, while the NGX Sovereign Bond Index closed flat, reflecting mixed sentiment in niche segments of the market.
A breakdown of trading activity showed that the Financial Services Industry dominated the market by volume, with 2.739 billion shares valued at N106.27bn traded in 135,101 deals.
This performance accounted for 71.99 per cent and 49.67 per cent of the total equity turnover volume and value respectively, reaffirming the sector’s central role in market liquidity.
The Services Industry followed with a turnover of 212.324 million shares worth N4.024bn in 17,042 deals, while the Consumer Goods Industry ranked third with 180.076 million shares valued at N13.27bn in 32,457 deals.
Activity in the banking segment remained particularly robust, with the top three equities by volume, Access Holdings Plc, United Bank for Africa Plc and FirstHoldCo Plc, accounting for a combined 814.060 million shares worth N39.03bn in 37,195 deals.
These transactions contributed 21.40 per cent and 18.24 per cent to the total equity turnover volume and value respectively.
Despite the overall market gain, breadth indicators reflected a slightly weaker sentiment compared to the previous week.
A total of 46 equities recorded price appreciation, down from 61 in the prior week, while 53 equities declined, up from 36. Meanwhile, 47 equities closed unchanged, slightly below the 49 recorded previously.
Analysts at Cowry Asset Management Limited projected that the market would likely sustain its positive trajectory in the near term, supported by strong liquidity conditions and continued investor participation.
However, they cautioned that the pace of gains could moderate as investors begin to take profits, particularly in stocks that have witnessed significant price rallies in recent sessions.
