NGX Ends Week on Muted Note: Trading Volume Dips 31% Amid Mixed Equities Performance
The Nigerian Exchange (NGX) wrapped up the trading week with subdued activity on Friday, as investors traded 544,741,361 shares across 27,054 deals, amounting to a turnover of NGN 19.63 billion.
According to data released by the NGX Group, this marked a 31% decline in volume, a 33% drop in turnover, and a 17% reduction in deals compared to Thursday’s session, reflecting cautious sentiment in the market. The NGX’s overall market capitalisation stood steady at NGN 91.1 trillion, underscoring resilience despite the pullback in activity.
A total of 128 listed equities saw trading action, with gainers edging out losers at 39 to 25, signalling pockets of optimism in select sectors. Leading the upward charge was UAC of Nigeria, which surged 10% to close at NGN 73.70 per share, buoyed by positive corporate developments.
Close behind were Nigerian Enamelware with a 9.97% gain, Ellah Lakes climbing 9.96%—fresh off its recent acquisition announcement—and PZ Cussons Nigeria advancing 9.88%.
These performers highlighted strength in consumer goods and agro-industrial stocks amid broader economic recovery signals.
On the flip side, construction giant Julius Berger Nigeria bore the brunt of the session’s losses, tumbling 9.96% to end at NGN 122.90 per share, possibly weighed down by sector headwinds.
Other notable decliners included Thomas Wyatt Nigeria (-9.5%), John Holt (-9.43%), and Daar Communications (-6.36%), as profit-taking and macroeconomic pressures took their toll.
Trading volume was dominated by banking heavyweights, with United Bank for Africa topping the charts at 80.1 million shares, followed by Access Holdings (71.7 million), Guaranty Trust Holding (35.1 million), and Zenith Bank (29.9 million). The concentration in financials underscored their enduring appeal to investors seeking liquidity and stability.
Analysts attributed the day’s softer metrics to lingering global uncertainties and domestic inflation concerns but noted the balanced gainer-loser ratio as a potential stabiliser heading into the weekend.
With NGX’s capitalisation holding firm above NGN 91 trillion, market watchers remain optimistic about a rebound next week, driven by earnings season and policy updates.
