NGX Stock Market Turnover Drops 31% to N111bn Amid Holiday-Shortened Trading Week

The Nigerian stock market ended a shortened trading week on a softer note, as equity traders exchanged about N111.48 billion worth of shares on the Nigerian Exchange (NGX). The decline came after public holidays for Eid-el-Kabir reduced trading activity to just three sessions, shaping a quieter but still active market environment.

According to market data, investors traded 2.39 billion shares in 241,313 deals during the period, marking a 31.08% drop compared to the previous week’s N161.75 billion turnover. That earlier week had seen higher activity, with 3.87 billion shares exchanged in 334,745 deals, showing a clear slowdown in both volume and value.

Despite the dip in trading activity, the market still recorded modest gains in overall value. The NGX market capitalisation rose slightly to N160.50 trillion from N160.07 trillion, while the All-Share Index (ASI) climbed by 673.1 basis points to close at 250,385.47, signaling continued underlying investor confidence.

Sector performance was led by the financial services industry, which dominated trading with 1.65 billion shares valued at N48.22 billion—accounting for over 69% of total volume. It was followed by the services sector and ICT, which also recorded notable activity, although at much lower levels compared to banking stocks.

In terms of individual stocks, Fidelity Bank, Access Holdings, and The Initiates Plc led trading by volume, collectively accounting for over one-third of total market activity. Meanwhile, gainers included International Energy Insurance, Sovereign Trust Insurance, Tantalizers, Airtel Africa, and NEM Insurance, while major losers such as Dangote Sugar, CAP Plc, Transcorp Power, and others dragged sentiment with notable price declines.

source: The Cable