Investors Trade 2.9bn Shares Worth N48bn On NGX

The Nigerian stock market witnessed a downturn this week as key indices closed in negative territory, reflecting a slowdown in market activity.

Investors traded a total of 2.902 billion shares valued at N48.06bn in 57,044 deals on the floor of the Nigerian Exchange (NGX), marking a decline from last week’s 3.281 billion shares worth N63.52bn exchanged in 60,782 deals.

The NGX All-Share Index (ASI) fell by 0.94 per cent to close at 104,962.96 points, while market capitalization declined by 0.80 per cent to settle at N65.82trn.

The downward trend was evident across most market indices, with the exception of the NGX Consumer Goods Index, which recorded a marginal gain of 0.06 per cent. The NGX ASeM and NGX Sovereign Bond indices remained unchanged throughout the week.

The Financial Services Industry led the activity chart, accounting for 81.85 per cent of the total equity turnover volume and 44.39 per cent of the total value. The sector recorded a trading volume of 2.375 billion shares worth N21.34bn across 27,053 deals.

Trailing behind was the Services Industry, which saw a total of 177.345 million shares valued at N3.19bn in 3,829 deals. The Consumer Goods Industry secured the third spot, with investors exchanging 104.381 million shares worth N3.31bn in 5,587 deals.

The three most actively traded equities by volume were Sovereign Trust Insurance Plc, Jaiz Bank Plc, and Fidelity Bank Plc. These stocks collectively accounted for 1.497 billion shares valued at N5.07bn in 3,662 deals. This represents 51.59 per cent of the total equity turnover volume and 10.54 per cent of the total traded value.

Market sentiment remained bearish as thirty-two equities recorded price appreciation, a decline from thirty-eight gainers in the previous week. Meanwhile, forty-eight equities saw price declines, higher than the forty-six recorded last week. A total of seventy equities remained unchanged, an increase from sixty-six in the prior week.

The market’s performance underscores cautious investor sentiment amid prevailing economic conditions. Analysts suggest that key economic developments and corporate earnings reports in the coming weeks will play a critical role in shaping market direction.

Investors Trade 2.9bn Shares Worth N48bn On NGX is first published on The Whistler Newspaper