The Nigerian Exchange (NGX) concluded the trading week on a positive note, with investors exchanging a staggering 4.652 billion shares valued at N193.326 billion across 286,751 deals. This marks a notable increase from the previous week's 3.860 billion shares worth N128.581 billion in 240,463 deals, reflecting heightened market activity and investor confidence.
Market Performance and Indices
The NGX All-Share Index (ASI) appreciated by 6.16%, closing at 182,313.08 points, while market capitalisation rose to N117.027 trillion. All major indices finished higher, except for the NGX Sovereign Bond Index, which saw a marginal decline of 0.01%.
Sectoral Analysis and Trading Activity
The Financial Services Industry dominated trading, accounting for 59.81% of total turnover by volume, with 2.782 billion shares worth N74.063 billion traded in 104,325 deals. This sector contributed 38.31% to the total equity turnover value, underscoring its pivotal role in the market's dynamics.
Following closely, the Services Industry recorded 573.189 million shares valued at N7.177 billion in 28,784 deals, while the Consumer Goods Industry ranked third with 317.667 million shares worth N24.027 billion traded in 33,280 deals.
Top Equities and Market Leaders
Trading in the top three equities by volume—Deap Capital Management & Trust Plc, Access Holdings Plc, and Zenith Bank Plc—accounted for 980.253 million shares worth N30.182 billion in 25,390 deals. This represented 21.07% of total equity turnover volume and 15.61% of its value, highlighting concentrated investor interest in these key players.
Price Gainers and Decliners
Market breadth remained positive, with several stocks posting significant gains. The top gainers included:
- Zichis Agro Allied Industries Plc: Rose from N6.72 to N10.80, gaining N4.08 or 60.71%.
- Union Dicon Salt Plc: Increased from N13.05 to N20.90, up N7.85 or 60.15%.
- Daar Communications Plc: Climbed from N1.90 to N2.95, rising N1.05 or 55.26%.
- Fortis Global Insurance Plc: Went up from N0.26 to N0.39, gaining N0.13 or 50.00%.
- John Holt Plc: Advanced from N7.30 to N10.60, up N3.30 or 45.21%.
On the downside, the top decliners were led by:
- Abbey Mortgage Bank Plc: Fell from N14.95 to N11.00, losing N3.95 or 26.42%.
- Sovereign Trust Insurance Plc: Decreased from N3.38 to N2.80, down N0.58 or 17.16%.
- Ecobank Transnational Incorporated: Dropped from N51.90 to N45.00, losing N6.90 or 13.29%.
- Skyway Aviation Handling Company Plc: Declined from N152.70 to N135.00, down N17.70 or 11.59%.
- Austin Laz & Company Plc: Fell from N5.40 to N4.80, losing N0.60 or 11.11%.
This week's trading activity underscores the robust performance of the Nigerian stock market, driven by strong investor participation and sectoral leadership from financial services. The positive market breadth and significant gains in key stocks reflect ongoing optimism, despite some declines in specific equities.
