Trading activity on the Nigerian Exchange Limited (NGX) saw a significant boost last week, with investors transacting 2.094 billion shares worth N52.97 billion across 64,612 deals. This represents a sharp increase from the previous week’s total of 1.183 billion shares valued at N28.87 billion in 42,397 deals.
However, despite the heightened activity, the market ended the week in negative territory. The NGX All-Share Index (ASI) declined by 0.90% to close at 104,563.34 points, while the overall market capitalization dropped by 0.67% to N65.707 trillion.
Sector Performance
A breakdown of market performance revealed that most sectors closed in the red. The few bright spots were:
- NGX Growth Index, which gained 0.37%
- NGX Sovereign Bond Index, up 3.42%
Meanwhile, the NGX ASeM Index remained flat throughout the trading week.
Sectoral Contribution
The financial services sector led the market in both volume and value, with 1.539 billion shares worth N36.35 billion exchanged in 36,013 deals. This accounted for 73.49% of the total volume and 68.63% of the total value.
The agriculture sector followed with 98.88 million shares worth N1.34 billion in 2,772 deals, while the services sector recorded 93 million shares valued at N522.15 million in 3,012 deals.
Top Traded Stocks
Three major banking stocks — Access Holdings Plc, Guaranty Trust Holding Company Plc (GTCO), and Zenith Bank Plc — played a dominant role in the week’s activity. The trio accounted for a combined turnover of 629.33 million shares valued at N25.82 billion in 12,742 deals, making up 30.06% of the total volume and 48.75% of the total value traded.
Market Sentiment
Investor sentiment remained mixed but slightly bearish. While 27 equities posted gains — up from 23 the previous week — the number of losers also increased to 56, compared to 51 a week earlier. Additionally, 64 equities remained unchanged, down from 73 in the prior week.
Outlook
Analysts note that although the spike in trading activity indicates stronger investor participation, the overall decline in key indices highlights lingering concerns. These include persistent macroeconomic challenges such as inflationary pressures, exchange rate volatility, and interest rate uncertainties, all of which continue to weigh on investor confidence.
