The Nigerian Exchange Limited (NGX) closed on a bullish note last week, delivering a significant gain of N1.14tn. The All-Share Index (ASI) rose by 1.80%, ending at 105,451.06 points, while the market capitalization reached N64.303tn. Trading activity surged, with a turnover of 4.698 billion shares valued at N85.043bn in 72,562 deals, reflecting a notable increase compared to the prior week’s figures of 2.618 billion shares worth N69.742bn across 47,953 deals.
The Financial Services Industry dominated the market, contributing 73.86% of the total trading volume and 47.97% of its value, followed by the Services and ICT sectors. Wema Bank Plc, FBN Holdings Plc, and Universal Insurance Plc led in trading volume, collectively accounting for 1.679 billion shares worth N20.838bn. On price performance, Multiverse Mining and Exploration Plc topped the gainers’ chart with a 53.42% increase, while SUNU Assurances Nigeria Plc led the decliners, shedding 36.52%.
Global equity markets experienced mixed results as investors balanced inflation concerns, economic data, and central bank policy expectations. Despite the challenges, the NGX recorded a positive close on Thursday, with the ASI rising by 1.25% and market capitalisation increasing by N793bn to N64.351tn. This growth underscores investors’ confidence in Nigeria’s equities market amidst prevailing economic conditions.