Stock Market Records N69.2bn Turnover As Investors’ Sentiments Rise

The Nigerian stock market experienced increased trading activity during the week, with investors exchanging a total of 3.25 billion shares valued at N69.198bn across 77,270 deals on the floor of the Nigerian Exchange Limited (NGX).

This represents a higher trading volume compared to the 3.13 billion shares worth N76.55bn transacted last week in 61,456 deals.

Despite the decline in total market value, key market indicators posted positive performances.

The NGX All-Share Index (ASI) rose by 0.87 per cent to close at 104,496.12 points, while the market capitalisation appreciated by 1.67 per cent, settling at N64.71tn.

Most sectoral indices recorded gains, except for the NGX Insurance Index, which declined by 2.86 per cent, and the NGX Industrial Goods Index, which dipped by 0.52 per cent. The NGX ASeM Index remained unchanged.

The financial services industry led the activity chart, accounting for 1.742 billion shares worth N32.53bn traded in 35,372 deals. This sector contributed 53.69 per cent and 47.01 per cent to the total equity turnover volume and value, respectively.

The services industry followed, with 748.21 million shares valued at N1.56bn exchanged in 5,469 deals, while the oil and gas industry recorded a turnover of 264.68 million shares worth N16.79bn in 10,515 deals.

Secure Electronic Technology Plc, FBN Holdings Plc, and Japaul Gold and Ventures Plc emerged as the most actively traded stocks by volume. Collectively, these three equities accounted for 998.47 million shares worth N6.60bn in 4,426 deals, contributing 30.77 per cent and 9.54 per cent to the total equity turnover volume and value, respectively.

Market sentiment remained positive, as 52 equities recorded price appreciation, up from 44 gainers in the previous week. Conversely, 44 equities recorded price declines, the same as last week, while 54 equities remained unchanged, a decline from the 64 unchanged stocks recorded in the previous week.

With increased trading activity and improved investor confidence, analysts anticipate sustained momentum in the market, especially as corporate earnings reports and macroeconomic developments continue to shape investment decisions.

Stock Market Records N69.2bn Turnover As Investors’ Sentiments Rise is first published on The Whistler Newspaper