The Financial Services Industry dominated trading on the Nigerian Exchange (NGX) this week, with investors exchanging 2.302 billion shares valued at N25.014 billion across 27,625 deals.
Market Performance Overview
According to the weekly report released on Friday in Lagos by the Nigerian Exchange, the Consumer Goods Industry followed in second place, recording 421.846 million shares worth N3.796 billion in 6,149 deals. The Services Industry secured the third position with a total turnover of 228.075 million shares valued at N800.274 million in 4,741 deals.
Overall, the total market turnover for the week stood at 3.281 billion shares worth N63.517 billion in 60,782 deals. This reflects a significant increase compared to the previous week’s total of 1.818 billion shares valued at N47.226 billion across 64,222 deals.
Top Performing Equities
Trading activity was driven largely by three companies: Sovereign Trust Insurance Plc, Champion Breweries Plc, and Jaiz Bank Plc. These top equities, measured by volume, accounted for 1.621 billion shares worth N3.244 billion in 1,528 deals. Collectively, they contributed 49.42% to the total equity turnover volume and 5.11% to the total market value.
Bond Market Activity
The Bonds section also saw notable activity this week. A total of 78,327 units valued at N72.987 million were traded in 63 deals. This was an increase from last week’s 73,802 units worth N75.768 million traded across 31 deals.
Exchange Traded Products (ETPs)
Investors traded 70,218 units of ETPs valued at N4.016 million in 113 deals this week. This represented a rise from the 56,372 units worth N6.280 million transacted in 99 deals last week.
Market Indices and Capitalization
The NGX All-Share Index (ASI) and Market Capitalization both declined by 0.55%, closing the week at 105,955.13 points and N66.352 trillion, respectively.
However, some indices posted gains, including:
- NGX Insurance Index (+0.89%)
- NGX ASeM Index (+0.04%)
- NGX MERI Growth Index (+0.89%)
- NGX Consumer Goods Index (+0.03%)
- NGX Commodity Index (+0.02%)
The overall market trend suggests increased investor participation despite fluctuations in key indices.
While the market recorded a slight decline in its benchmark index, the increased trading volume highlights continued investor confidence in the Nigerian bourse. Market participants will be keen to watch next week’s movements as economic factors and corporate actions influence trading trends.
