NGX Trades N111.48bn Shares in Three-Day Week

The Nigerian Exchange (NGX) recorded a total turnover of N111.48 billion from the trading of 2.39 billion shares in 241,313 deals during a shortened three-day trading week, as investors navigated the market around the Eid-el-Kabir public holidays.

Despite lower trading activity compared to the previous week, the stock market maintained a positive performance, with market capitalisation rising to N160.50 trillion and the All-Share Index (ASI) posting modest gains.

Trading Activity Declines After Holiday Break

Data from the NGX showed that equity traders exchanged 2.39 billion shares valued at N111.48 billion between Monday and Friday, excluding Wednesday and Thursday, which were observed as public holidays for Eid-el-Kabir celebrations.

The turnover represented a decline of 31.08 per cent compared to the preceding week, when investors traded 3.87 billion shares worth N161.75 billion in 334,745 deals.

Although trading volumes and values fell during the shortened week, investor sentiment remained largely positive as the market continued its upward trajectory.

The NGX market capitalisation increased from N160.07 trillion recorded the previous week to N160.50 trillion by the close of trading on Friday.

Similarly, the All-Share Index gained 673.1 basis points, advancing from 249,712.37 points to 250,385.47 points.

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Financial Stocks Dominate Market Turnover

The financial services sector emerged as the most active segment of the market, accounting for the highest trading volume and value during the review period.

According to market data, the sector recorded 1.65 billion shares traded in 94,812 deals worth N48.22 billion.

This represented 69.07 per cent of total market volume and 43.26 per cent of total transaction value recorded during the week.

The services sector followed with 265.44 million shares valued at N4.53 billion in 19,443 deals.

The Information and Communications Technology (ICT) sector ranked third, posting 101.84 million shares worth N9.16 billion across 24,858 transactions.

Fidelity, Access Holdings Lead Top-Traded Equities

Fidelity Bank Plc, Access Holdings Plc and The Initiates Plc emerged as the three most actively traded equities by volume.

Together, the companies accounted for 903.68 million shares exchanged in 22,238 deals with a combined value of N19.22 billion.

The three stocks contributed 37.69 per cent of total market volume and 17.25 per cent of the overall value traded during the week.

Their strong activity underscored continued investor interest in banking and financial services stocks, which have remained among the most traded counters on the exchange.

Insurance, Airtel Africa Lead Weekly Gainers

International Energy Insurance topped the gainers’ chart after its share price rose from N3.41 to N4.52, representing a gain of N1.11.

Sovereign Trust Insurance followed with an increase of N0.47, as its stock appreciated from N2.28 to N2.75.

Tantalizers also recorded strong growth, gaining N0.76 to close at N4.89 from its opening price of N4.13.

Airtel Africa ranked fourth among the week’s best-performing stocks, with its share price rising by N332.30 from N3,323.40 to N3,655.70.

NEM Insurance completed the top five gainers after its stock advanced from N30 to N32.90, reflecting a gain of N2.90.

Dangote Sugar, Transcorp Power Among Losers

On the downside, Dangote Sugar Refinery led the losers’ table after its share price declined by N15.85 to close at N71.15 from N87.

The Initiates Plc also suffered losses, shedding N5.40 to end the week at N28.40 compared to its opening price of N33.80.

Premier Paints dropped by N3.75, closing at N33.75 from N37.50.

CAP Plc lost N19.90, with its share price falling from N199 to N179.10.

Transcorp Power rounded out the list of major losers after declining by N27.20 to close at N245.50 from N272.70.

Market Maintains Positive Momentum

Despite the shorter trading week and reduced transaction volume, the Nigerian stock market demonstrated resilience, supported by gains in key sectors and a rise in overall market capitalisation.

The positive movement in the All-Share Index suggests that investor confidence remains relatively strong, even as market participants continue to assess economic conditions, interest rate trends and corporate earnings expectations.

Analysts will be watching closely in the coming weeks to see whether the market can sustain its upward momentum as normal trading activities resume after the holiday period.

Segun Lasisi

A Lagos-based journalist with a passion for disseminating factual information and a deep appreciation for good music, good food, movies, and beautiful cars. He hopes to travel the world someday, documenting its beauty and diverse cultures through his storytelling.