NGX Index Gains 4.26% As Investors Trade N107.8bn In Turnover

The Nigerian Exchange Limited (NGX) recorded a positive trading week as the All-Share Index (ASI) and market capitalization advanced by 4.26 per cent and 4.54 per cent respectively, reflecting improved investor sentiment and bullish momentum across most sectors.

At the close of trading on Friday, the ASI rose to 126,149.59 index points, while the market capitalization settled at N79.80trn, up from N76.33tn recorded in the previous week.

Despite a slight dip in trading volume, market turnover remained robust. Investors exchanged a total of 5.390 billion shares valued at N107.811bn across 134,390 transactions, compared to 5.466 billion shares worth N108.099bn traded in 118,570 deals the preceding week.

Sectoral performance showed widespread gains. All indices closed in positive territory with the exception of the NGX Oil and Gas Index, which declined by 0.72 per cent, indicating mild sectoral profit-taking or cautious sentiment.

The NGX 30, Banking, Insurance, and Industrial Goods indices all closed higher.

The Financial Services Industry dominated trading activity by volume and value, contributing 56.00 per cent and 52.17 per cent respectively to the total equity turnover.

The sector recorded 3.019 billion shares worth N56.24bn in 55,574 deals.

The Oil and Gas Industry followed with 565.645 million shares valued at N8.111bn in 9,914 transactions. The Services Industry came third with 466.153 million shares worth N2.595bn in 10,832 deals.

Leading the activity chart were Access Holdings Plc, Japaul Gold & Ventures Plc, and AIICO Insurance Plc. These three equities jointly accounted for 1.396 billion shares valued at N15.835bn in 12,828 deals—contributing 25.90 per cent of total turnover volume and 14.69 o per cent turnover value.

Investor sentiment improved markedly during the week. A total of 90 equities recorded price appreciation, surpassing the 78 gainers in the previous week. Conversely, 16 stocks declined in value, compared to 20 losers previously. The number of unchanged equities stood at 41, down from 49 in the prior week.

Analysts attribute the bullish performance to improved macroeconomic expectations, relatively stable currency dynamics, and continued interest in bellwether stocks by institutional and retail investors.

Market watchers will be closely monitoring upcoming half-year earnings releases and macroeconomic data for signals that may influence the trajectory of the market in the coming weeks.

NGX Index Gains 4.26% As Investors Trade N107.8bn In Turnover is first published on The Whistler Newspaper