Improved Market Performance Pushes NGX Capitalization To N63.65trn

Investors on the Nigerian Exchange (NGX) recorded a total turnover of 3.13 billion shares valued at N76.55bn and traded in 61,456 deals during the past trading week.

This represents a significant increase compared to the 2.25bn shares worth N58.83bn exchanged in 63,657 deals the previous week.

The NGX All-Share Index (ASI) and Market Capitalisation both closed higher, appreciating by 1.22 per cent and 1.26 per cent, respectively, to end the week at 103,598.30 points and N63.65trn.

Despite the general market uptrend, some indices closed in the red, including the NGX Insurance, NGX Consumer Goods, NGX Oil and Gas, and NGX Sovereign Bond indices, which declined by 1.20 per cent, 1.20 per cent, 0.93 per cent, and 0.10 per cent, respectively. The NGX ASeM Index remained flat throughout the week.

Activity was dominated by the Financial Services Industry, which led the trading chart by volume, accounting for 2.34 billion shares worth N33.014bn traded in 27,100 deals.

This sector contributed 74.59 per cent of the total equity turnover volume and 43.13 per cent of the total value. The services industry followed with 284.98 million shares valued at N807.65m traded in 4,638 deals, while the consumer goods industry ranked third with 139.010 million shares worth N5.704bn traded in 6,469 deals.

Among individual stocks, Wema Bank Plc, Secure Electronic Technology Plc, and Access Holdings Plc emerged as the top three equities traded by volume.

These stocks accounted for a combined 1.437 billion shares worth N15.406bn traded in 5,292 deals.

This performance represented 45.89 per cent of the total equity turnover volume and 20.13 per cent of the total value, reflecting strong investor interest in these securities.

The week also saw increased market breadth, as forty-four equities appreciated, compared to thirty-three in the preceding week. Meanwhile, the number of declining equities reduced to forty-four, down from fifty-seven in the previous week. Sixty-four equities remained unchanged, slightly higher than the sixty-two recorded in the prior week.

The NGX’s performance during the week underscores the market’s resilience and ongoing investor confidence, despite fluctuations in specific sectors. As key sectors like financial services continue to dominate trading activity, the market outlook remains optimistic for the coming weeks.

Improved Market Performance Pushes NGX Capitalization To N63.65trn is first published on The Whistler Newspaper