Nigerian Stock Exchange Closes Higher on Strong Trading Activity

The Nigerian Stock Exchange (NGX) ended today’s trading session on a positive note, buoyed by robust market activity and notable share price gains. A total of 1.05 billion shares were exchanged across 58,921 deals, corresponding to a market value of NGN 48.7 billion.

Compared with the previous trading day, the data shows a 35% increase in volume, a 75% surge in turnover, though the number of deals recorded an 11% decline. The NGX’s current market capitalization stands at NGN 113.5 trillion.

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A total of 131 equities were active on the trading floor, with 66 gainers and 22 losers. E-Tranzact International led the gainers, posting a 10% increase to close at NGN 20.35 per share. Other top performers included John Holt, Deap Capital Management & Trust, and Omatek Ventures, all recording 10% gains. On the losing side, Abbey Mortgage Bank recorded the steepest decline, dropping 9.82% to NGN 12.40 per share, followed by Skyway Aviation Handling Co. (-9.06%), Guinea Insurance (-6.67%), and Consolidated Hallmark Holdings (-6.64%).

In terms of trading volume, Access Holdings led the market with 136 million shares, followed by Veritas Kapital Assurance (67.3m), Tantalizers (54.7m), and Zenith Bank (52.1m).

Market indices reflected widespread gains across sectors. The NGX All-Share Index (ASI) rose by 2,863.21 points (1.65%) to close at 176,809.43, representing a 6.57% gain over the past week and a 13.62% year-to-date increase. Other strong performers included the NGX Top 30 Index (+1.54%), NGX Oil & Gas Index (+2.97%), NGX Industrial Index (+2.93%), NGX Premium Index (+2.36%), NGX Pension Index (+2.05%), and NGX Banking Index (+1.83%).

The NGX’s performance places it alongside other active African stock markets, including the Botswana Stock Exchange, BRVM, Ghana Stock Exchange, Johannesburg Stock Exchange, Lusaka Securities Exchange, Malawi Stock Exchange, Nairobi Securities Exchange, Uganda Securities Exchange, and Zimbabwe Stock Exchange.

The strong trading activity and broad-based gains signal renewed investor confidence in the Nigerian equities market, supported by improving corporate earnings and positive macroeconomic indicators.