NGX Records 2.45% Gain, Market Value Hits N93.72trn

The Nigerian Exchange (NGX) All-Share Index and Market Capitalization appreciated by 2.45% and 2.67 to close the week at 147,040.08 and N93.722 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX Oil and Gas and NGX Commodity Indices which depreciated by 0.57% and 0.30% respectively.

A weekly report of the NGX between December 1 and 5 indicated that a total turnover of 6.617 billion shares worth N113.224 billion in 109,590 deals was traded by investors on the floor of the Exchange, in contrast to a total of 4.140 billion shares valued at N115.889 billion that exchanged hands last week in 102,351 deals.

The ICT Industry (measured by volume) led the activity chart with 3.500 billion shares valued at N17.759 billion traded in 11,184 deals; thus contributing 52.89% and 15.68% to the total equity turnover volume and value respectively.

The Financial Services Industry followed with 2.625 billion shares worth N50.188 billion in 42,574 deals.

Third place was the Services Industry, with a turnover of 104.524 million shares worth N1.166 billion in 7,255 deals.

Trading in the top three equities, namely E-Tranzact International Plc, Cornerstone Insurance Plc and Access Holdings Plc (measured by volume), accounted for 4.871 billion shares worth N27.422 billion in 6,438 deals, contributing 73.60% and 24.22% to the total equity turnover volume and value respectively.

Also, Fifty-five (55) equities appreciated in price during the week, higher than thirty-eight (38) equities in the previous week.

Twenty-nine (29) equities depreciated in price, lower than thirty-six (36) equities in the previous week, while sixty-three (63) equities remained unchanged, lower than seventy-three (73) recorded in the previous week.

Analysts at Cowry Assets Security in its weekly review said, “Looking ahead to the coming week, we expect the Nigerian equities market to maintain a cautious yet cautiously optimistic tone in the near term.

“Momentum may continue in fundamentally strong and actively accumulated stocks, while selective volatility persists in sectors facing external pressures, such as Oil & Gas and Commodities. Year-end profit-taking, macroeconomic developments and upcoming dividends are likely to influence activity. Investors are expected to focus on high quality, resilient, and oversold stocks, seeking potential entry points before broader market momentum shifts.”