March 08, (THEWILL) — Trading activities on the Nigerian Exchange (NGX) closed last week on a positive note, with key market indicators posting gains despite mixed investor sentiment across sectors.
The NGX All-Share Index (ASI) and Market Capitalization appreciated by 2.15 percent and 2.16 percent respectively, closing the week at 196,968.15 points and ₦126.437 trillion. The upward movement in the benchmark index reflects continued investor positioning in select equities amid ongoing portfolio rebalancing across the market.
Market activity, however, moderated compared to the previous week. A total turnover of 3.695 billion shares worth ₦177.687 billion was traded this week by investors on the floor of the Exchange. This represents a decline when compared with the 5.494 billion shares valued at ₦196.709 billion that exchanged hands in the preceding week.
Sectoral analysis of trading activity showed that the Financial Services Industry (measured by volume) maintained its dominance on the activity chart. The sector recorded a turnover of 2.444 billion shares valued at ₦72.029 billion, contributing 66.14 percent and 40.54 percent to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with a turnover of 326.073 million shares worth ₦39.510 billion, reflecting sustained investor interest in energy stocks amid developments in the domestic petroleum market and global oil price volatility.
Third place on the activity chart was the Services Industry, which recorded a turnover of 218.374 million shares valued at ₦2.012 billion during the week.
Further breakdown of trading activity indicates that the top three equities by volume Jaiz Bank Plc, Fortis Global Insurance Plc and Access Holdings Plc accounted for 661.242 million shares valued at ₦8.062 billion. This represents 17.90 percent and 4.54 percent of the total equity turnover volume and value respectively.
Market breadth during the week reflected a mixed sentiment among investors. Forty-four (44) equities appreciated in price, higher than the thirty-two (32) equities recorded in the previous week. Fifty-eight (58) equities depreciated, lower than the sixty-nine (69) recorded in the preceding week, while forty-six (46) equities remained unchanged, slightly lower than the forty-seven (47) recorded previously.
Despite the broader market recording more decliners than advancers, gains in selected large-capitalised stocks helped sustain the upward movement of the benchmark index during the period, reflecting targeted accumulation by investors in key market drivers.
TOP 5 PRICE GAINERS
FORTIS GLOBAL INSURANCE PLC advanced 58.51 percent (N0.94 to N1.49).
PREMIER PAINTS PLC gained 32.73 percent (opened at N11.00 and closed N14.60).
ETERNA PLC 28.72 percent (from N32.90 to N42.35).
NIGERIAN EXCHANGE GROUP recorded a 21.73 percent gain (advancing from N124.00 to N150.95).
U A C N PLC 20.63 percent (from N96.00 to N115.80).
TOP 5 PRICE LOSERS
MCNICHOLS PLC dipped by -24.44 percent (N8.47 to N6.40).
MECURE INDUSTRIES PLC -18.92 percent (declined from N75.85 to N61.50).
MULTIVERSE MINING AND EXPLORATION PLC -18.72 percent (opened at N22.70 and closed at N18.45).
JAIZ BANK PLC fell by -18.45 percent (N12.63 to N10.30).
OMATEK VENTURES PLC lost -15.38 percent (N2.60 to N2.20).
In the fixed income segment of the Exchange, trading activity recorded a sharp decline during the week. A total of 30,180 units valued at ₦29.456 million were traded in 26 deals, compared with 579,488 units valued at ₦585.173 million exchanged in the previous week.
The performance of sectoral indices was largely positive. Most indices closed the week higher, with the exception of NGX Insurance, NGX MERI Value, NGX Consumer Goods, NGX Growth and NGX Sovereign Bond, which declined by 1.88 percent, 0.01 percent, 0.09 percent, 15.31 percent and 3.01 percent respectively.
Market analysts expect trading on the Exchange to remain selectively bullish in the near term, supported by continued institutional positioning in fundamentally strong stocks. However, investors are likely to maintain a cautious stance as they monitor macroeconomic signals, corporate earnings expectations and developments in the broader financial market, which could influence liquidity flows and sectoral rotation in the coming sessions.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
