NGX Market Rallies as Financial Services Sector Drives N213bn Weekly Equity Turnover

The Nigerian Exchange Limited (NGX) recorded a stronger trading week as investors exchanged a total of 3.8 billion shares worth N213.95 billion in 297,202 deals over five trading sessions. The performance reflects growing investor appetite and renewed confidence in key listed sectors.

According to the NGX weekly market report, trading activity rose by 6.05 percent compared to the previous week, when 3.58 billion shares valued at N195.31 billion were exchanged in 254,553 deals. This uptick signals increased liquidity and participation in the equity market.

Market indicators also closed in positive territory, as the All-Share Index (ASI) and market capitalisation appreciated by 3.94 percent. The ASI settled at 225,722.49 points, while market capitalisation climbed to N145.335 trillion, reinforcing a broadly bullish market sentiment.

The financial services sector once again dominated market activity, accounting for 2.73 billion shares valued at N106.26 billion across 135,101 deals. This represented 71.99 percent of total volume and 49.67 percent of total value traded. Other active sectors included the services industry with 212.32 million shares worth N4.02 billion, and consumer goods with 180.07 million shares valued at N13.27 billion.

On the individual equities chart, Access Holdings Plc, United Bank for Africa Plc, and FirstHoldCo Plc led trading activity. Together, they accounted for 814.06 million shares worth N39.03 billion in 37,195 deals, contributing 21.4 percent of total volume and 18.24 percent of total value.

source: The cable