Trading activity on the Nigerian Exchange Limited (NGX) strengthened during the week, with investors exchanging 4.689 billion shares valued at N240.824bn in 261,198 deals, as market capitalisation rose by 0.92 per cent to N163.66tn.
The latest turnover represented a 44.33 per cent increase in volume from the 3.249 billion shares traded in the preceding week, while the value of transactions increased marginally by 1.19 per cent from N237.986bn.
However, the number of deals executed during the week declined by 9.28 per cent from the 287,919 transactions recorded in the previous week, indicating that the higher trading volume was concentrated in fewer transactions.
The NGX All-Share Index (ASI) also advanced by 0.92 per cent to close the week at 252,113.41 points, reflecting broad-based gains across most segments of the equities market.
The positive market performance came despite declines recorded in three indices, with the NGX Insurance Index falling by 0.52 per cent, the NGX Lotus II Index declining by 0.13 per cent, while the NGX Sovereign Bond Index eased by 0.003 per cent.
All other market indices closed higher during the review period.
The Financial Services Industry remained the dominant force in trading activity, accounting for 75.43 per cent of total equity turnover volume and 48.44 per cent of total equity turnover value.
The sector recorded transactions in 3.537 billion shares valued at N116.67bn across 115,985 deals, underscoring the continued dominance of banking and other financial services stocks in overall market activity.
The Information and Communication Technology (ICT) Industry ranked second, with 279.827 million shares worth N15.77bn traded in 29,520 deals.
The Conglomerates Industry occupied the third position, recording a turnover of 154.165 million shares valued at N6.62bn in 4,540 deals.
At the individual equity level, Fidelity Bank Plc, Fortis Global Insurance Plc and Zenith Bank Plc emerged as the three most actively traded stocks by volume.
The three equities jointly accounted for 2.020 billion shares valued at N54.06bn in 21,385 deals, representing 43.08 per cent of total equity turnover volume and 22.45 per cent of the overall equity turnover value.
The increased market activity was accompanied by broader positive price movement, as 61 equities recorded price appreciation during the week, compared with 52 gainers in the previous week.
Meanwhile, 32 equities recorded price declines, unchanged from the previous week’s figure, while 53 equities closed flat, down from 63 equities that remained unchanged in the preceding week.
The rise in the number of advancing stocks, combined with the increase in the All-Share Index and market capitalisation, points to stronger buying interest across the equities market during the week.
The NGX performance also came against the backdrop of sustained investor activity in financial services stocks, which continued to account for the bulk of trading volume and value on the Exchange.
Overall, the week’s trading figures showed a substantial increase in the quantity of shares exchanged and a marginal rise in transaction value, while the benchmark index and market capitalisation extended their upward movement to close at 252,113.41 points and N163.66tn respectively.
