The Nigerian Stock Exchange (NGX) ended the week on a high note, recording a remarkable surge in trading activity on Friday. Investors exchanged a total of 560,008,738 shares across 20,620 deals, amounting to a market turnover of NGN 13.6 billion, representing a 73% increase in volume and a 13% rise in both turnover and deals compared with Thursday’s session. The exchange’s market capitalization now stands at NGN 92.2 trillion.
Out of 127 equities that participated in trading, 33 stocks gained while 21 declined. Leading the gainers was Ikeja Hotel, which soared 10% to close at NGN 30.25 per share, followed by Nigerian Exchange Group (+9.98%), Academy Press (+9.7%), and Omatek Ventures (+9.35%). On the losing side, Abbey Mortgage Bank recorded the steepest fall, losing 10% to close at NGN 5.85, with Meyer (-9.97%), Sunu Assurances Nigeria (-9.89%), and Sovereign Trust Insurance (-9.09%) also posting sharp declines.
Trading volumes were led by Access Holdings (103 million shares), Ellah Lakes (82.7 million), Consolidated Hallmark Holdings (59.1 million), and United Bank for Africa (26.4 million), highlighting concentrated investor interest in key equities.
The benchmark NGX All-Share Index (ASI) rose 281.28 points (0.2%) to close at 143,520.51, reflecting a 1-week loss of 0.14% and a 4-week loss of 6.88%, but maintaining an impressive year-to-date gain of 39.44%. Other indices recorded notable gains, including the NGX Top 30 Index (+0.2%; +37.72% YTD), Consumer Goods (+0.57%; +97.56% YTD), Banking (+0.25%; +27.41% YTD), Main Board (+0.21%; +40.52% YTD), Pension (+0.19%; +46.47% YTD), and Premium (+0.16%; +44.86% YTD).
Analysts attribute the bullish trend to heightened market liquidity and renewed investor confidence, particularly in hospitality, financial, and consumer goods sectors, signaling a strong foundation for trading in the coming week.
