AfriPulse
Trading On Nigerian Exchange Ltd, Lagos
Trading activity on the Nigerian Exchange (NGX) surged sharply in the week under review, with investors exchanging a total of 9.849 billion shares valued at N305.84bn across 126,584 deals, underscoring heightened market participation and improved investor sentiment.
The latest figures represent a significant increase from the previous week, when 4.373 billion shares worth N97.78bn were traded in 110,736 deals, reflecting more than a twofold rise in both volume and value.
Driven by the strong trading performance, the NGX All-Share Index (ASI) advanced by 1.76 per cent week-on-week to close at 152,057.38 points, while total market capitalisation rose to ₦96.94trn reinforcing the bullish momentum in the equities market.
A sectoral analysis showed broad-based gains across most indices.
However, the NGX AFR Bank Value Index and the NGX Oil and Gas Index closed the week lower, declining by 1.38 per cent and 0.17 per cent respectively. All other sectoral indices ended the week in positive territory.
The Financial Services Industry dominated trading activity, leading the market by volume with 8.295 billion shares valued at N232.22bn exchanged in 50,351 deals.
The sector accounted for 84.22 per cent of the total equity turnover volume and 75.93 per cent of total market value.
The Healthcare Industry followed, recording a turnover of 517.44 million shares worth N3.47bn in 2,979 deals, while the Consumer Goods Industry ranked third with 392.765 million shares valued at N12.66bn traded across 18,438 deals.
Trading in three banking heavyweights, Ecobank Transnational Incorporated Plc, First HoldCo Plc and Access Holdings Plc, largely drove market activity during the week. Collectively, the stocks accounted for 6.424 billion shares valued at ₦204.63bn in 11,362 deals, contributing 65.23 per cent of total traded volume and 66.91 per cent of total traded value.
Market breadth also improved, as 55 equities recorded price appreciation, compared with 49 gainers in the preceding week. On the downside, 36 equities declined, down from 41 in the previous week, while 55 equities closed unchanged, lower than the 57 recorded a week earlier.
Overall, the strong uptick in turnover and improved market breadth point to renewed investor confidence, particularly in banking stocks, amid expectations of sustained momentum in the equities market.
Source: TheWhistler | Read the Full Story…
