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Home » Nigerian Stock Exchange Closes Week with NGN 19.87bn Turnover Amidst Mixed Performances

Nigerian Stock Exchange Closes Week with NGN 19.87bn Turnover Amidst Mixed Performances

By Oluyinka Onigbinde 

by Joshua
March 11, 2024
in Market Square

At the close of the last weekday trading session on the Nigerian Stock Exchange (NGX), investors wintnessed a fluctuating landscape characterized by a total turnover of 358,122,419 shares exchanged in 10,785 deals. This transactional flurry translated to a market value of NGN 19,871,371,320.20, marking a noticeable shift from the preceding trading day.

 

Comparing Friday’s data with the previous NGX session held on Thursday, March 7, reveals intriguing insights. While there was a notable 35% decline in volume, a promising 12% improvement in turnover emerged alongside an 11% uptick in deals. Such nuanced fluctuations underscore the dynamic nature of the Nigerian stock market.

 

The aggregate participation of 128 NGX listed equities in today’s trading journey resulted in a mixed bag of outcomes. As the closing bell rang, the market witnessed 28 gainers and 22 losers, setting the stage for a diverse array of performances.

 

Leading the charge among the gainers was MTN Nigeria, showcasing an impressive 9.99% share price appreciation, culminating in a closing value of NGN 221.40 per share. Following closely behind were Dangote Sugar Refinery, National Salt Company, and Ikeja Hotel, each demonstrating significant gains of 9.98%, 9.97%, and 9.87%, respectively.

 

However, amidst the buoyant atmosphere of gainers, there existed a contrasting narrative of loss. FTN Cocoa Processors found itself at the tail end of the spectrum, with its share price witnessing a sharp depreciation of 9.8%, settling at NGN 1.38 per share. Following suit were C&I Leasing, Guinness Nigeria, and Guinea Insurance, each grappling with depreciations of 8.66%, 8.39%, and 7.89%, respectively.

 

Turning attention to the volume leaders, Transcorp Nigeria emerged as the frontrunner, with a staggering 92.9 million shares traded. Following its lead were Transcorp Power (30.5m), United Bank for Africa (26.2m), and Access Holdings (23.3m), each contributing significantly to the day’s trading activity.

 

As the trading week draws to a close, investors remain vigilant, navigating the dynamic currents of the Nigerian Stock Exchange. With a current market capitalization standing at NGN 57.3 trillion, the journey ahead promises both challenges and opportunities for market participants, underscoring the resilience and adaptability of Nigeria’s financial landscape.

 


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