The Nigerian Exchange (NGX) closed the trading week on a positive note on Friday, February 28, 2025, recording an uptick in market activity. A total of 458.26 million shares were traded in 12,213 deals, amounting to a market turnover of NGN 14.08 billion. This marks an 8% increase in volume, a 47% rise in turnover, and a 10% improvement in deals compared to the previous trading session on Thursday, February 27.
The market capitalization of the Nigerian Exchange now stands at NGN 67.2 trillion, reflecting sustained investor interest amid market fluctuations.
Gainers and Losers: Austin Laz & Company Leads Advancers
Out of the 127 listed equities that participated in trading, 26 stocks closed higher, while 34 recorded losses.
Top Gainers:
– Austin Laz & Company led the gainers’ chart with a 10% price appreciation**, closing at NGN 2.09 per share.
– Oando Plc followed closely with a 9.94% gain,
– Caverton Offshore Support Group appreciated by 9.67%, and
– John Holt Plc rose by 9.62%.
Top Losers: Red Star Express Suffers Biggest Decline
On the losing side, 34 stocks recorded price depreciation with Red Star Express emerging as the biggest loser:
– Red Star Express fell by 9.96% to close at NGN 6.60 per share.
– Learn Africa Plc declined by 9.84%.
– Multiverse Mining & Exploration Plc lost 9.72%.
– Cadbury Nigeria Plc shed 9.62%.
Market Movers: Zenith Bank Leads in Volume
Banking stocks dominated trading activity, with Zenith Bank Plc emerging as the most traded stock by volume:
– Zenith Bank Plc recorded 122 million traded shares
– FCMB Group Plc followed with 50.2 million shares.
– Access Holdings Plc saw 28.6 million shares traded.
– Fidelity Bank Plc exchanged 19.9 million shares.
NGX All-Share Index Rises Slightly by 0.14%
The NGX All-Share Index (ASI) inched up by 145.93 points (0.14%) to close at 107,821.39 point. Despite the daily gain, the index reflected a 0.62% decline over the past week, but a 3.18% gain over the last four weeks and an overall 4.76% year-to-date (YTD) growth.
Sectoral Performance: Oil & Gas Index Records Highest Gain
-NGX Oil & Gas Index led sectoral gains, rising by 1.74%, reflecting renewed investor confidence in energy stocks. However, it remains 5.55% down YTD
– NGX Top 30 Index posted a marginal gain of 0.04%, with a 5.03% YTD growth.
– NGX Main Board Index rose by 0.23%, adding to its 3.15% YTD growth.
– NGX Pension Index advanced by 0.21%, contributing to a 6.93% YTD increase.
– NGX Industrial Index remained flat but recorded a 1.34% YTD growth.
– NGX Premium Index edged lower by 0.04%, despite an impressive 7.76% YTD rise.
Market Outlook: Positive Momentum Despite Weekly Decline
While the NGX posted a weekly loss, the steady improvement in trading turnover and market capitalization suggests growing investor confidence. The positive year-to-date performance across key indices, particularly in the oil and banking sectors, indicates a resilient market poised for further gains. Analysts expect continued mixed performance in the short term, driven by earnings reports, macroeconomic factors, and global market trends.
