Nigerian Stocks Weekly Turnover Hits ₦115.4bn, ASI Up 2.35%

The Nigerian Exchange (NGX) closed the week on a positive note, as bullish investor sentiment drove market turnover and key indices higher. Investors traded a total of 3.566 billion shares valued at ₦115.40bn across 99,960 deals during the week, a significant increase from the 2.057 billion shares worth ₦51.02bn recorded in 65,016 deals the previous week.

The market rally pushed the NGX All-Share Index (ASI) up by 2.35 per cent to close at 118,138.22, while the market capitalization rose by 2.40 per cent to settle at ₦74.53tn.

All sectoral indices posted gains except the NGX Industrial Goods Index and the NGX Sovereign Bond Index, which declined by 0.36 per cent and 0.78 per cent respectively. The NGX ASeM Index remained flat.

The Financial Services sector dominated trading activity, accounting for 2.166 billion shares valued at ₦62.05bn exchanged in 45,851 deals.

This represented 60.73 per cent of the total volume and 53.76 per cent of the total value of equities traded for the week.

The Consumer Goods sector followed with 580.893 million shares worth ₦10.89bn in 10,909 deals, while the Services sector came third, recording 193.300 million shares valued at ₦2.45bn in 6,306 transactions.

Zenith Bank Plc, Champion Breweries Plc, and Access Holdings Plc were the most actively traded equities by volume. Together, they accounted for 1.003 billion shares worth ₦26.08bn across 14,232 deals, contributing 28.14 per cent and 22.60 per cent to the total equity turnover volume and value respectively.

Market breadth closed mixed. Fifty-five equities appreciated in price, unchanged from the previous week.

However, the number of decliners rose to 42 from 39, while the number of equities that remained flat declined to 51 from 54 in the preceding week.

The market’s robust performance reflects growing investor interest, likely driven by improving corporate earnings expectations, macroeconomic adjustments, and optimism around monetary policy direction.

Nigerian Stocks Weekly Turnover Hits ₦115.4bn, ASI Up 2.35% is first published on The Whistler Newspaper