The Nigerian Exchange Limited (NGX) experienced a surge in trading volume and value during the week ended, despite operating for only four trading days due to the Easter public holidays declared by the Federal Government on Friday, April 18th, and Monday, April 21st, 2025.
Investors traded a total of 1.854 billion shares valued at N56.025bn across 51,386 deals. This represents a significant increase compared to the previous week’s total turnover of 1.525 billion shares worth N43.006bn in 51,156 deals, highlighting a robust level of investor participation despite the shortened trading period.
The positive market sentiment was further reflected in the performance of key market indicators. The NGX All-Share Index (ASI) and Market Capitalization both recorded notable gains, appreciating by 1.46 per cent and 1.47 per cent respectively to close the week at 105,752.61 points and N66.465trn.
An analysis of sectorial performance revealed a mixed bag of results. While the broad market indices showed positive momentum, several key indices experienced downward pressure.
The NGX Premium, NGX Oil & Gas, NGX Industrial Goods, NGX Growth, and NGX Sovereign Bond Indices all closed lower, registering depreciations of 0.43 per cent, 0.07 per cent, 3.44 per cent, 0.41 per cent, and 0.06 per cent respectively.
This suggests sector-specific adjustments and profit-taking activities during the week.
In terms of trading activity by sector, the Financial Services Industry dominated the volume chart, accounting for 1.266 billion shares valued at N29.400bn traded in 24,351 deals.
This impressive performance translates to a substantial contribution of 68.28 per cent to the total equity turnover volume and 52.48 per cent to the total equity turnover value. Following the financial services sector was the ICT Industry, which recorded a turnover of 136.707 million shares worth N12.472bn in 2,974 deals.
The Consumer Goods Industry secured the third position with 118.617 million shares valued at N4.415bn traded in 5,869 deals.
Further analysis of individual stock performance revealed that trading in the top three equities by volume – Fidelity Bank Plc, Access Holdings Plc, and Guaranty Trust Holding Company Plc – accounted for a significant portion of the overall market activity.
These three stocks collectively traded 797.873 million shares worth N22.043bn in 8,618 deals, representing 43.03 per cent of the total equity turnover volume and 39.34 per cent of the total equity turnover value.
This concentration of trading activity in these blue-chip stocks underscores their continued importance in driving market liquidity.
Investor sentiment appeared largely positive during the week, as evidenced by the number of appreciating stocks. Sixty-four equities recorded price gains, a notable increase compared to the thirty-one equities that appreciated in the previous week.
Conversely, twenty-seven equities experienced price declines, lower than the forty-four recorded in the preceding week. The number of equities that remained unchanged stood at fifty-seven, also a decrease from the seventy-two recorded last week. This suggests a more decisive market direction with a greater number of stocks experiencing price movements.
Overall, the Nigerian Exchange demonstrated resilience and increased activity despite the shortened trading week due to the Easter holidays.
The significant rise in both trading volume and value, coupled with the positive performance of the broad market indices, indicates sustained investor interest in the Nigerian capital market.
However, the mixed performance across different sectors highlights the nuanced dynamics at play within the market. Market analysts will be closely monitoring trading patterns in the coming week to gauge the sustainability of this upward momentum.
