The Nigerian Exchange (NGX) closed the trading week with its All-Share Index climbing by 2.78% to settle at 249,804.56 points, while market capitalisation rose by 2.90% to N162.157 trillion, according to the latest weekly market data. This positive performance was driven by heavy trading activity, particularly in Financial Services stocks, with market breadth turning sharply positive as 52 equities recorded gains compared to just 9 in the previous week.
Weekly Trading Activity and Sector Performance
Investors traded a total of 3.249 billion shares worth N237.986 billion across 287,919 deals during the week under review. This compares with the previous week's figures of 3.647 billion shares valued at N130.151 billion transacted in 244,777 deals, showing a decline in volume but a significant jump in the naira value of shares changing hands.
The Financial Services industry was by far the most active sector, accounting for 79.43% of total equity turnover volume and 40.85% of total equity turnover value. Investors in the sector exchanged 2.581 billion shares worth N97.212 billion across 138,900 deals.
Most Traded Equities and Top Gainers
Fidelity Bank Plc, Sterling Financial Holdings Company Plc, and Mutual Benefits Assurance Plc were the three most traded stocks by volume, together accounting for 1.229 billion shares worth N15.942 billion in 7,796 deals. The trio represented 37.83% of total equity turnover volume and 6.70% of total equity turnover value.
UPDC Real Estate Investment Trust led the gainers after its share price rose from N13.75 to N18.55, representing a gain of N4.80 or 34.91%. Sovereign Trust Insurance Plc followed, rising from N1.68 to N2.20, a gain of N0.52 or 30.95%. Mutual Benefits Assurance Plc increased from N2.95 to N3.60, representing a gain of N0.65 or 22.03%.
Nigerian Exchange Group Plc rose from N148.00 to N179.90, gaining N31.90 or 21.55%. First HoldCo Plc increased from N136.00 to N160.00, representing a gain of N24.00 or 17.65%. McNichols Consolidated Plc rose from N4.45 to N5.20, gaining N0.75 or 16.85%. Livestock Feeds Plc appreciated from N6.85 to N8.00, representing a gain of N1.15 or 16.79%. Fortis Global Insurance Plc increased from N1.45 to N1.65, gaining N0.20 or 13.79%. Consolidated Hallmark Holdings Plc rose from N6.50 to N7.37, representing a gain of N0.87 or 13.38%. NPF Microfinance Bank Plc increased from N3.60 to N4.00, gaining N0.40 or 11.11%.
Top Decliners and Market Outlook
Transcorp Power Plc led the decliners after its share price fell from N219.60 to N178.00, representing a loss of N41.60 or 18.94%. John Holt Plc declined from N9.00 to N7.30, losing N1.70 or 18.89%. Ellah Lakes Plc fell from N10.20 to N8.35, representing a loss of N1.85 or 18.14%. Livingtrust Mortgage Bank Plc dropped from N3.15 to N2.60, losing N0.55 or 17.46%.
Omatek Ventures Plc declined from N1.37 to N1.20, representing a loss of N0.17 or 12.41%. PZ Cussons Nigeria Plc fell from N83.00 to N73.60, losing N9.40 or 11.33%. Learn Africa Plc declined from N9.00 to N8.00, representing a loss of N1.00 or 11.11%. Industrial & Medical Gases Nigeria Plc fell from N30.70 to N27.65, losing N3.05 or 9.93%. Ecobank Transnational Incorporated declined from N74.00 to N67.00, representing a loss of N7.00 or 9.46%. Cadbury Nigeria Plc fell from N58.45 to N53.00, losing N5.45 or 9.32%.
The week's market performance reflects renewed investor confidence, with the All-Share Index and market capitalisation both posting gains. The strong showing of Financial Services equities, particularly Fidelity Bank, Sterling Financial Holdings, and Mutual Benefits Assurance, underscores the sector's dominance in driving trading activity on the NGX.
