Investors on the floor of the Nigerian Exchange Limited (NGX) traded a total of 3.19 billion shares valued at N54.85bn in 45,112 deals during the week, marking a significant increase in activity compared to the previous week.
In contrast, the prior week recorded 1.95bn shares worth N35.86bn exchanged in 48,553 deals.
Despite the surge in trading volume and value, the market saw a slight decline as the NGX All-Share Index (ASI) and Market Capitalization dipped by 0.33 per cent and 0.31 per cent, closing at 97,506.87 points and N59.107trn respectively. Sectoral performance was mixed, with most indices closing lower.
However, exceptions included NGX Insurance, NGX AFR Div Yield, NGX Lotus II, NGX Industrial Goods, and NGX Growth, which recorded gains of 1.23 per cent, 0.84 per cent, 0.99 per cent, 0.62 per cent, and an impressive 5.59 per cent, respectively. The NGX ASeM Index remained flat.
The Financial Services Industry dominated the activity chart, with 1.509bn shares valued at N26.904bn traded in 20,357 deals.
This represented 47.25 per cent of the total equity turnover by volume and 49.05 per cent by value.
Following closely was the Construction/Real Estate Industry, where investors traded 839.94m shares worth N4.81bn in 1,399 deals. The Oil and Gas Industry ranked third, recording 256.44m shares worth N13.31bn billion in 6,313 deals.
Haldane McCall Plc, FBN Holdings Plc, and Japaul Gold and Ventures Plc were the week’s top equities by volume. Together, these three accounted for 1.59bn shares worth N19.797bn in 3,632 deals, contributing 49.69 per cent of the total equity turnover volume and 36.09 per cent of the value.
The week saw 32 equities appreciating in price, a sharp decline from 52 equities in the previous week. Conversely, 46 equities depreciated in price, compared to 33 in the prior week, indicating a broader market weakness.
Meanwhile, 75 equities remained unchanged, up from 68 recorded the previous week.
The mixed performance of indices and the overall decline in key market metrics underscore a cautious trading environment. However, the increased trading volumes across key industries reflect sustained investor interest in select sectors.
Market analysts will be watching closely for signals that could influence next week’s performance, particularly macroeconomic indicators.