The Nigerian Exchange (NGX) sustained its bullish momentum during the week as investors traded equities worth N306.14bn, with the market capitalisation advancing to N159.59tn amid broad-based buying interest across major sectors.
Data released by the Nigerian Exchange showed that investors traded a total of 4.433 billion shares valued at N306.143bn in 255,589 deals during the week, representing a significant improvement over the previous week’s turnover of 2.819 billion shares worth N182.49bn executed in 226,729 deals.
The increased trading activity reflected stronger investor participation, particularly in banking stocks, which dominated both transaction volume and value throughout the week.
The benchmark NGX All-Share Index (ASI) gained 1.60 per cent to close at 247,357.40 basis points, while the Exchange’s market capitalisation appreciated by 1.61 per cent to settle at N159.59tn, extending the market’s positive performance.
Most sectoral indices ended the week in positive territory, underscoring widespread investor optimism. However, the NGX Consumer Goods, NGX Lotus II, NGX Growth, NGX Sovereign Bond, and NGX Commodity indices closed lower, reflecting profit-taking in selected counters.
The Financial Services sector remained the engine of market activity, accounting for the largest share of transactions during the week. Investors traded 3.422 billion shares worth N207.21bn in 117,545 deals within the sector, representing 77.18 per cent of the total trading volume and 67.68 per cent of the total market value.
The Consumer Goods industry ranked second with 201.978 million shares valued at N17.17bn exchanged in 28,666 deals, while the Information and Communication Technology (ICT) sector followed with 169.481 million shares worth N21.19bn traded across 23,107 deals.
Activity was heavily concentrated in banking stocks, with First Holdco Plc, Access Holdings Plc and Guaranty Trust Holding Company Plc emerging as the three most actively traded equities by volume.
Together, the companies accounted for 2.151 billion shares valued at N170.79bn in 44,768 deals, contributing 48.51 per cent of the total market volume and 55.79 per cent of the total value traded during the week.
Market breadth also strengthened as the number of gainers outpaced losers. A total of 57 equities recorded price appreciation during the week, an improvement from 44 stocks in the preceding week.
Meanwhile, 38 equities posted price declines, compared with 35 in the previous week, while 51 stocks closed unchanged, down from 67 equities that maintained their prices a week earlier.
The week’s performance highlights continued investor confidence in Nigerian equities, supported by strong liquidity, sustained demand for financial stocks, and improving market sentiment, which helped push both the benchmark index and overall market capitalisation to fresh highs.
(The Whistler)