The Nigerian equity market witnessed notable growth in the past week, gaining N121 billion as the All-Share Index increased by 0.21 percent, closing at 98,458.68 points. This upward trajectory also boosted the market capitalization to N56.578 trillion. The trading activity recorded a total turnover of 3.318 billion shares valued at N45.911 billion across 49,243 deals, showcasing a considerable rise compared to the previous week’s performance of 1.860 billion shares worth N38.445 billion traded in 40,228 deals.
The Financial Services Industry emerged as the dominant sector by volume, with 1.430 billion shares valued at N23.659 billion traded over 22,745 deals. This sector contributed 43.09 percent of the overall equity turnover volume and a substantial 51.53 percent of the total value. The Oil and Gas Industry followed, exchanging 703.389 million shares worth N7.323 billion in 6,207 deals, while the Healthcare Industry secured the third position with 411.489 million shares valued at N2.896 billion in 827 deals.
Among the top traded equities by volume were Japaul Gold & Ventures Plc, Mecure Industries Plc, and Fidelity Bank Plc, collectively accounting for 1.363 billion shares worth N9.472 billion across 4,050 deals. This notable activity in these specific stocks represented 41.06 percent of the total equity turnover volume and 20.63 percent by value, indicating strong investor interest in these companies. This trend reflects the dynamics of the Nigerian equity market where certain stocks tend to attract significant trading attention.
The daily trading activity illustrated a busy week of stock exchanges, starting on September 23 with 10,671 deals involving 810.429 million shares worth N8.293 billion, yielding 32 advancing, 20 declining, and 72 unchanged stocks. The following day, September 24, saw 12,081 deals with 763 million shares valued at N11.780 billion and an increasing number of advancing stocks to 35. September 25 recorded 9,723 deals with 603.301 million shares worth N12.575 billion, showing a slight decline in advancing stocks to 31.
On September 26, the market saw 9,005 deals with 344.355 million shares worth N6.609 billion, maintaining a balance in performance with 29 advancing and 26 declining stocks. The trading week culminated on September 27 with 7,763 deals involving 797.214 million shares worth N6.652 billion and more balance across advancing and declining stocks, indicating stability in the market. Additionally, a total of 92,630 units in Exchange-Traded Products were traded, marking a slight decline in turnover compared to the previous week.
Overall, the past week ended positively with 45 equities appreciating, an increase from 41 in the previous week, while the number of depreciating stocks decreased to 33 from 40. Despite fluctuations, 73 equities remained unchanged, slightly up from the 70 recorded previously. Reports indicate that even amidst the Eid el-Maulud holiday, the market experienced significant gains, adding N455 billion by the week’s conclusion, with the NGX All-Share Index and market capitalization appreciating by 0.81 percent, closing at 98,247.99 points and N56.457 trillion, respectively. This reflects sustained investor confidence and activity within the Nigerian equity market.
