The Nigerian Stock Exchange (NGX) closed the final weekday of trading for November 1, 2024, with impressive figures, showcasing a total of 888,796,122 shares exchanged across 8,803 deals, amounting to a market value of NGN 15,841,257,099.98. The day’s activity marked a 67% increase in trading volume and a significant 79% rise in turnover compared to the previous trading day on Thursday, October 31. However, the number of deals saw a minor decrease of 3%. These movements brought the NGX’s overall market capitalization to NGN 59.1 trillion.
Trading on Friday witnessed participation from 123 listed equities, with 23 stocks closing on a positive note and 31 on a downturn. Leading the day’s gainers was John Holt, recording a 10% gain to close at NGN 3.30 per share. Other prominent gainers included Eunisell Interlinked with a 9.98% rise, Red Star Express at +9.83%, and Wapic Insurance, gaining 9.52%.
Conversely, Aradel Holdings led the laggards, experiencing a 10% drop to settle at NGN 445.60 per share. Ellah Lakes trailed with a 9.92% decline, followed by Multiverse Mining & Exploration (-9.66%) and McNichols (-9.62%). Fidelity Bank dominated trading volume, accounting for a substantial 541 million shares, followed by Jaiz Bank with 68.7 million shares, Chams with 49.4 million, and Zenith Bank recording 40.7 million shares.
The benchmark NGX All-Share Index (ASI) reflected a slight dip, dropping by 219.21 points (-0.22%) to close at 97,432.02. This marks a 1-week loss of 2.03% and a 4-week dip of 0.09%, though it retains a notable year-to-date gain of 30.3%. Additional indices showed varied performance, with the NGX Top 30 Index gaining 0.18% on the day, marking a 1-week decline of 0.91% but boasting a year-to-date growth of 31.69%. The NGX Banking Index saw a robust daily increase of 1.15%, a 1-week gain of 0.19%, and an 11.58% year-to-date rise.
Meanwhile, the NGX Pension Index rose by 0.48% but experienced a slight 1-week loss of 0.03%, maintaining a year-to-date increase of 30.34%. The Consumer Goods Index climbed by 0.23% on the day, with a 1-week dip of 0.22% but a strong 38.77% gain year-to-date. Other notable indices included the NGX Premium Index, which closed 0.21% higher, yet showed a 1-week decline of 1.11%, holding an impressive 25.18% gain year-to-date. The NGX Insurance Index rose by 0.15%, with a weekly drop of 0.4% and an impressive year-to-date performance of 39.22%.
These results highlight an overall robust trading day for the NGX, with a positive uptick in turnover and notable performances across several indices, despite slight declines in the All-Share Index and other areas. The exchange continues to attract active trading interest, with key sectors like banking, insurance, and consumer goods demonstrating resilient year-to-date gains, suggesting sustained market confidence heading into the final months of the year.
