Nigeria’s stock market recorded stronger trading command closing week as investors exchanged shares worth N154.39bn billion, even because the benchmark fairness index declined by 1.21 per cent amid sustained profit-taking across considerable counters.
Information launched by the Nigerian Alternate Exiguous (NGX) showed that investors traded a total of three.821 billion shares valued at N154.39bn in 258,567 deals, representing an verbalize over the earlier week’s turnover of 2.324 billion shares worth N134.49bn accomplished in 249,328 deals.
Despite the larger trading volume and designate, the NGX All-Allotment Index (ASI) and total market capitalisation each fell by 1.21 per cent, with the benchmark index closing the week at 229,240.34 capabilities, whereas market capitalisation settled at N147.103tn.
The performance reflected cautious investor sentiment and profit-taking activities after contemporary gains recorded in the equities market.
Sectoral performance remained largely bearish all thru the week, as almost all NGX sectoral indices closed in unfavorable territory. The NGX Predominant Board Index became as soon as the handiest gainer, appreciating by 2.27 per cent, whereas diversified indices ended decrease.
Prognosis of market command showed that the Financial Companies sector maintained its dominance in trading, accounting for the very finest piece of transactions all thru the review interval.
The sector recorded a turnover of 2.330 billion shares valued at ₦54.606 billion in 108,978 deals, contributing 60.ninety nine per cent of the full fairness volume traded and 35.37 per cent of the market’s total price.
The Companies sector ranked 2d, with investors exchanging 509.473 million shares worth N16.35bb in 16,527 deals, whereas the Consumer Items sector occupied third plan after posting a turnover of 216.344 million shares valued at N8.06bn in 25,963 deals.
The week’s trading command became as soon as driven largely by Sterling Financial Holdings Company Plc, Entry Holdings Plc, and Ikeja Resort Plc, which emerged because the three most actively traded stocks by volume.
Collectively, the three equities accounted for 1.405 billion shares valued at N28.370bn in 12,898 deals, representing 36.78 per cent of the full trading volume and 18.37 per cent of the full price traded all thru the week.
Market breadth remained unchanged from the earlier week, reflecting a balanced but cautious trading environment.
A total of twenty-two listed equities recorded designate appreciation, the identical quantity as in the preceding week, whereas 57 stocks declined in price, furthermore unchanged from the earlier week.
Meanwhile, 67 equities closed flat, affirming the identical stage recorded per week earlier.
Market analysts acknowledged the abolish bigger in trading command despite the decline in the benchmark index means that investors remained active in repositioning their portfolios, with transactions concentrated in banking and diversified fundamentally solid stocks because the market continues to answer to earnings expectations and broader macroeconomic traits.
