NGX Records 8.76bn Shares Traded in Three Days as ICT Sector Drives Market Surge
The Nigerian Exchange Limited (NGX) recorded a remarkable surge in trading activity last week, with investors exchanging 8.761 billion shares valued at N267.253bn in 193,473 deals—despite a shortened three-day trading window. The spike comes amid renewed investor confidence and shifting market dynamics that continue to reshape Nigeria’s capital market landscape.
The impressive turnover was achieved during a holiday-shortened week following the Federal Government’s public holidays to mark Eid-el-Fitr. Compared to the previous week’s 3.321 billion shares worth N164.845bn, the latest figures highlight a sharp increase in market participation, reflecting heightened investor activity within a limited timeframe.
Driving much of this momentum was the Information and Communications Technology (ICT) sector, which dominated trading by volume with 5.330 billion shares valued at N46.825bn—accounting for 60.84 percent of total equity turnover. Key contributors included E-Tranzact International Plc, FCMB Group Plc, and Wema Bank Plc, which collectively made up nearly 70 percent of total traded volume during the week.
Market performance mirrored the surge in activity, as the NGX All-Share Index and market capitalisation both rose by 1.39 percent to close at 201,156.86 points and N129.126tn respectively. However, sectoral performance remained mixed, with insurance, oil and gas, and commodities indices recording declines, while the sovereign bond index remained unchanged. Analysts note that investors are increasingly shifting toward equities as yields in fixed-income markets begin to tighten.
Experts say the strong appetite for equities, particularly within the ICT space, signals a deeper structural shift in Nigeria’s investment landscape. The rapid growth of fintech firms and expanding digital infrastructure have positioned technology as a key driver of future market performance. As investors move quickly to secure favorable returns, the NGX’s recent surge underscores growing confidence and evolving priorities in the country’s financial markets.
source: punch