January 11, (THEWILL) — The Nigerian Exchange recorded a mixed trading performance during the week, with equities closing higher despite a notable decline in market turnover.
A total turnover of 4.164 billion shares valued at ₦94.026 billion was traded during the week, compared with 7.821 billion shares worth ₦134.471 billion exchanged in the previous week, reflecting reduced trading activity.
The Financial Services Industry led the activity chart by volume, with 2.651 billion shares valued at ₦35.957 billion, accounting for 63.67 percent of total equity volume and 38.24 percent of value. The Services Industry followed with 369.963 million shares worth ₦3.383 billion, while the ICT Industry ranked third, recording 297.938 million shares valued at ₦5.727 billion.
Trading in Universal Insurance Plc, Linkage Assurance Plc and Access Holdings Plc accounted for 1.261 billion shares valued at ₦5.060 billion, contributing 30.28 percent of total volume and 5.38 percent of value.
The NGX All-Share Index and Market Capitalisation appreciated by 3.71 percent and 3.84 percent to close at 162,298.08 points and ₦103.776 trillion respectively. All sectoral indices closed higher, except the NGX Sovereign Bond Index, which ended flat.
Market breadth improved as 84 equities recorded price appreciation, up from 73 in the previous week. Twenty-two equities depreciated, while 42 stocks closed unchanged.
Top Gainers
- Multiverse Mining and Exploration Plc gained 59.73 percent. (₦14.65 to ₦23.40).
- MCNichols Plc rose by 53.20 percent (₦3.59 to ₦5.50).
- May & Baker Nigeria Plc advanced 51.58 percent (₦19.00 to ₦28.80).
- Deap Capital Management & Trust Plc gained 43.54 percent (₦2.09 to ₦3.00).
- Neimeth International Pharmaceuticals Plc appreciated by 43.22 percent (₦5.90 to ₦8.45).
Top Losers
- Aluminium Extrusion Industries Plc declined 19.75 percent (₦23.80 to ₦19.10).
- Austin Laz & Company Plc shed 11.56 percent (₦4.67 to ₦4.13).
- Sovereign Trust Insurance Plc fell 11.29 percent (₦3.81 to ₦3.38).
- Ikeja Hotel Plc dropped 10.91 percent (₦44.90 to ₦40.00).
- Juli Plc declined 9.90 percent (₦8.06 to ₦7.26).
Bond Market
Trading activity in the bond segment improved, with 93,349 units valued at ₦94.735 million traded in 24 deals, compared with 46,845 units worth ₦48.790 million in 23 deals in the preceding week.
Investor sentiment remained largely bullish during the week, driven by broad-based price gains and an expansion in market breadth, with 84 equities closing higher. The strong appreciation in the NGX All-Share Index and market capitalisation signals improved risk appetite.
However, sentiment was selective, as the rally was mainly led by mid- and small-cap stocks amid lower trading activity, indicating cautious positioning despite positive momentum.
The positive momentum in the equities market is expected to persist in the near term, supported by sustained investor interest in fundamentally strong stocks and improving market breadth.
However, intermittent profit-taking may emerge following the recent rally, especially in stocks that recorded sharp gains. Trading activity is likely to remain selective, with investors closely monitoring macroeconomic signals, earnings expectations and policy developments for direction.
Ogochukwu Onwaeze
