AfriPulse
Trading activities on the Nigerian Exchange (NGX) closed the week on a positive note, with investors transacting a total of 4.373 billion shares valued at N97.78bn across 110,736 deals.
The performance marked a slowdown in market activity when compared with the previous week, during which 6.617 billion shares worth N113.22bn were traded in 109,590 deals, reflecting a decline in both volume and value of transactions despite a higher number of deals executed.
Market sentiment, however, remained bullish as key indicators advanced over the week. The NGX All-Share Index (ASI) rose by 1.63 per cent to close at 149,433.26 points, while total market capitalisation appreciated by 1.64 per cent to settle at N95.264 trillion, driven by price gains in select large- and mid-cap stocks.
Broad-based gains were recorded across most sectoral indices, underscoring improved investor confidence.
Nevertheless, some indices closed the week in negative territory.
The NGX Banking Index declined marginally by 0.12 per cent, while the NGX AFR Dividend Yield Index fell by 0.75 per cent.
The NGX MERI Growth and NGX MERI Value indices also depreciated by 1.07 per cent and 0.27 per cent respectively.
In addition, the NGX Oil and Gas Index eased by 0.13 per cent, the NGX Sovereign Bond Index dropped by 2.02 per cent, and the NGX Commodity Index slipped by 0.49 per cent.
Analysis of trading activity showed that the Financial Services sector dominated the market by volume, accounting for 2.252 billion shares valued at N47.20bn traded in 44,808 deals.
The sector contributed 51.49 per cent of total equity turnover volume and 48.27 per cent of total value, reflecting sustained investor interest in banking and other financial stocks.
The Information and Communications Technology sector followed, with 1.118 billion shares worth N13.15bn exchanged in 10,413 deals, while the Oil and Gas sector ranked third with a turnover of 233.891 million shares valued at N4.73bn across 7,515 deals.
Trading in three equities, E-Tranzact International Plc, Access Holdings Plc and FCMB Group Plc, accounted for a significant portion of market activity.
Combined, the stocks recorded a turnover of 1.921 billion shares worth N22.22bn in 9,558 deals, representing 43.93 per cent of total equity volume and 22.72 per cent of total value traded during the week.
Market breadth weakened slightly compared with the preceding week.
A total of 49 equities appreciated in price, down from 55 gainers recorded previously.
On the other hand, 41 equities closed lower, compared with 29 decliners in the prior week, while 57 equities ended the week unchanged, fewer than the 63 recorded in the previous trading period.
Overall, the week’s performance reflected a cautiously optimistic market, as price gains lifted key indices despite softer trading volumes, with investors continuing to rebalance portfolios amid sector-specific pressures and selective bargain hunting.
Source: TheWhistler | Read the Full Story…
