The Nigerian Stock Exchange (NGX) ended the week on a positive note as trading activities saw a significant boost in both volume and turnover. At the close of Friday’s session, a total of 396.3 million shares were exchanged in 10,099 deals, amounting to a market value of NGN 9.04 billion. This reflects a 28% increase in volume and a 45% rise in turnover compared to the previous trading day. The market capitalization of NGX stood firm at NGN 65.8 trillion, demonstrating the resilience of the local bourse despite recent market fluctuations.
Gainers and Losers: Linkage Assurance Leads, Red Star Express Lags
Out of the 125 listed equities that participated in trading, the session closed with 29 gainers and 21 losers. Linkage Assurance Plc emerged as the top gainer, recording a 10% price appreciation, closing at NGN 1.43 per share. Other strong performers included Livestock Feeds Plc (+9.93%), Mutual Benefits Assurance Plc (+9.84%), and United Bank for Africa (UBA) Plc (+5.75%).
On the downside, Red Star Express Plc suffered the biggest loss, declining 9.91% to close at NGN 4.82 per share. Learn Africa Plc (-9.85%), E-Tranzact International Plc (-9.43%), and Wapic Insurance Plc (-9.39%) also recorded significant declines.
Most Actively Traded Stocks: Fidelity Bank Leads in Volume
Fidelity Bank Plc emerged as the most actively traded stock with 62.3 million shares changing hands, followed by Access Holdings Plc (38.3 million shares), Tantalizers Plc (32 million shares), and Veritas Kapital Assurance Plc (31.4 million shares). The high trading volume in these equities reflects sustained investor interest, particularly in the banking and financial services sector.
NGX Indices Performance: Marginal Gains Despite Weekly Losses
The NGX All-Share Index (ASI) edged up by 104.19 points (+0.1%) to close at 104,962.96. However, on a weekly and monthly basis, the index recorded a 0.94% and 3.26% loss, respectively. Year-to-date, the market remains in positive territory with a 1.98% gain.
Other key indices closed as follows:
- NGX Top 30 Index: +0.1% daily, -0.85% weekly, +2.14% YTD
- NGX Oil & Gas Index: +0.5% daily, -1.08% weekly, -7.82% YTD
- NGX Banking Index: +0.12% daily, -2.55% weekly, +1.28% YTD
- NGX Premium Index: +0.1% daily, -0.9% weekly, +4.13% YTD
- NGX Main Board Index: +0.1% daily, -0.96% weekly, +0.83% YTD
- NGX Pension Index: +0.09% daily, -1.07% weekly, +3.27% YTD
Market Outlook
Despite the weekly losses, the year-to-date positive return of the ASI suggests investor confidence remains steady. The notable increase in trading volume and turnover points to heightened market activity, with a strong showing from financial services stocks. As investors continue to navigate economic uncertainties, analysts anticipate continued mixed performance with short-term volatility, particularly in sectors like oil and gas, where year-to-date returns remain negative.
For the coming week, market watchers will keep an eye on macroeconomic indicators, corporate earnings reports, and foreign investment flows, which could influence market direction.
