BREAKING: NGX Records Surge As Trading Volume Hits 7.52 Billion
The Nigerian Exchange (NGX) recorded a significant surge in trading activity during the last week of March, with a total turnover of 7.521 billion shares valued at N398.96bn transacted in 61,312 deals.
This marks a substantial increase compared to the 2.902 billion shares worth N48.06bn traded in 57,044 deals in the preceding week.
The NGX All-Share Index (ASI) and market capitalization also saw an uptick, appreciating by 0.66 per cent to close the week at 105,660.64 points and N66.26trn, respectively.
However, while most indices posted gains, the NGX Oil/Gas Index and the NGX Commodity Index experienced declines of 1.65 per cent and 0.76 per cent, respectively. The NGX ASeM Index remained unchanged throughout the week.
The Industrial Goods sector dominated the activity chart in terms of volume, with 4.923 billion shares worth N331.99bn exchanged in 2,969 deals.
This sector alone contributed 65.46 per cent of the total equity turnover volume and 83.22 per cent of the total value.
The financial services sector followed, recording a turnover of 2.092 billion shares valued at N31.74bn across 32,421 deals.
The services sector ranked third, with 198.775 million shares worth N788.67m changing hands in 3,450 deals.
Among individual stocks, Lafarge Africa Plc, Sovereign Trust Insurance Plc, and Cutix Plc emerged as the most actively traded equities by volume.
These three companies collectively accounted for 5.546 billion shares worth N332.38bn exchanged in 1,300 deals.
This represented 73.73 per cent of total equity turnover volume and 83.31 per cent of total market value.
Investor sentiment remained positive, as 43 equities recorded price appreciation, surpassing the 32 gainers from the previous week.
Meanwhile, 36 equities recorded price declines, a notable improvement from the 48 decliners in the preceding week.
The number of unchanged equities stood at 71, slightly lower than the 70 recorded in the previous week.
The market’s robust performance during the week underscores strong investor confidence and heightened trading activity across key sectors, reflecting an overall positive outlook for the Nigerian equities market.
