NGX Turnover Surges to N74.8bn Despite ASI Dip and Mixed Sectoral Performance

The Nigerian Exchange (NGX) witnessed a strong rise in market activity last week, with turnover climbing by 17.3 per cent to N74.81 billion. This increase came even as the benchmark All-Share Index (ASI) slipped by 0.62 per cent, closing at 109,028.62 points. The weekly market report for the period ended May 23, 2025, showed heightened investor interest as trading volumes and number of deals saw significant jumps.

A total of 3.93 billion shares were traded across 105,220 deals, up from 2.61 billion shares in 77,593 deals the previous week. The Financial Services sector remained the most active, contributing 61.16 per cent of the total volume and 43.14 per cent of the value, with trades amounting to 2.41 billion shares worth N32.27 billion. The Services and Consumer Goods sectors followed in activity.

Royal Exchange Plc, Fidelity Bank Plc, and Tantalizer Plc were the most traded stocks by volume, jointly accounting for 40.95 per cent of all shares traded and 11.89 per cent of the total value. Their dominance highlighted strong retail and institutional interest in specific equities during the trading week.

Despite the heightened market activity, sectoral performance was uneven. The NGX Banking Index and Premium Board Index declined, along with the Oil/Gas Index. However, the Consumer Goods Index rose by 2.18 per cent, while the Industrial Goods and Insurance indices also recorded modest gains, reflecting a mixed investor sentiment across industries.

Market breadth narrowed slightly with 52 gainers, down from 61 the previous week, while the number of losers rose to 41. CUTIX Plc led the gainers with a 21.92 per cent rise, while Neimeth Pharmaceuticals dropped the most by 17.03 per cent. Meanwhile, market capitalisation inched up by 0.19 per cent to N68.75 trillion, boosted by the listing of 6.84 billion new UBA shares, generating an estimated N130 billion in investor portfolio gains.

Source: The Sun