The Nigerian Exchange Limited (NGX) recorded a turnover of N158.29 billion last week, marking a 2.11% increase from the N155.02 billion recorded in the preceding week. This growth in transaction value occurred despite a 0.97% decline in the All-Share Index (ASI). The ASI closed at 248,363.55 points, while market capitalisation settled at N161.26 trillion.
The market recorded 2.715 billion shares exchanged in 209,986 deals during the week, compared to 3.166 billion shares traded in 206,662 deals in the previous week. Trading volume fell by 14.25%, but the number of deals increased by 1.61%, indicating more transactions with a lower aggregate volume of shares.
Research Analyst at CSL Stockbrokers Limited, Mobifoluwa Adesina, attributed the week's performance partly to profit-taking following the market's gains in September. Adesina expects renewed buying interest ahead of third-quarter earnings announcements. The Financial Services Industry dominated trading activity, accounting for 2.005 billion shares valued at N82.924 billion in 94,483 deals.
The Consumer Goods Industry followed with 152.345 million shares worth N11.425 billion exchanged in 20,926 deals, while the Information and Communications Technology (ICT) Industry recorded 117.296 million shares valued at N15.256 billion in 22,556 deals. Access Holdings Plc, Zenith Bank Plc, and United Bank for Africa Plc led the market by volume, accounting for a combined 1.020 billion shares valued at N50.520 billion in 29,382 deals.
Market breadth weakened as declining stocks outnumbered gainers, reflecting selling pressure. A total of 24 equities appreciated in price, while 54 equities declined, and 68 equities closed unchanged. Livestock Feeds Plc led the gainers with a 47.75% appreciation, followed by Tripple Gee and Company Plc, which rose by 32.62%, and Guinea Insurance Plc, which gained 29.17%.
Sectoral performance was largely negative, although the NGX Industrial Goods Index recorded a marginal gain of 0.02%. The NGX Oil and Gas Index remained one of the best-performing sectoral indices, with a gain of 124.92% on a year-to-date basis. Activity also increased in the Exchange-Traded Products (ETPs) segment, where transaction value rose by 81.16% to N687.314 million.
The Exchange admitted new securities during the week, including Federal Government of Nigeria Savings Bonds issued in September 2026 and a supplementary listing of 6.307 billion ordinary shares of Guinea Insurance Plc. Trading in the bond market also improved, with 144,034 units valued at N146.416 million exchanged, compared to 81,063 units worth N85.606 million in the preceding week.
Key points
- The NGX turnover increased to N158.29 billion, a 2.11% growth from the previous week.
- The market recorded a 0.97% decline in the All-Share Index (ASI) despite the increase in turnover.
- The Financial Services Industry dominated trading activity, accounting for 73.84% of total equity turnover volume.
