The Nigerian Stock Exchange (NGX) closed the last trading day of the week on a subdued note, with investors taking a cautious approach amid lower market activity. On Friday, January 23, 731.6 million shares worth ₦19.04 billion exchanged hands in 43,978 deals, representing a 5% decline in volume, 10% decline in turnover, and 5% drop in deals compared with Thursday, January 22.
The Exchange’s total market capitalization now stands at ₦106 trillion, reflecting modest overall movement as investors recalibrated positions ahead of the new trading week.
Out of 131 equities that participated in trading, 33 gained while 39 declined, showing a market broadly split between cautious optimism and profit-taking. Union Homes Real Estate Investment topped the gainers’ chart with a 9.94% increase, closing at ₦71.35 per share. Other notable gainers included Morison Industries (+9.94%), SCOA Nigeria (+9.93%), and RT Briscoe (+9.93%), indicating selective sector strength.
On the losing side, Neimeth International Pharma recorded the steepest decline, dropping 9.86% to ₦13.25 per share, followed by Secure Electronic Technology (-9.35%), Eterna (-8.23%), and University Press (-6.25%), highlighting pressure on some mid-cap and blue-chip stocks.
Trading activity remained concentrated in high-volume stocks, with Chams Plc leading the session at 76.9 million shares traded, followed by Secure Electronic Technology (68 million shares), Zenith Bank (49.2 million shares), and Zichis Agro Allied Industries (48.8 million shares).
Analysts noted that the decline in turnover and volume may be linked to profit-taking and cautious positioning by investors after gains earlier in the week. Market watchers will be monitoring sector developments and macroeconomic indicators closely as trading resumes next week.
