NGX Opens Week with Mixed Trading Signals: Volume and Turnover Drop, Deals Surge by 30%

Trading activities on the Nigerian Stock Exchange (NGX) kicked off the week with a total of 451,484,892 shares exchanged in 33,290 deals, amounting to a market value of NGN 13.003 billion. This marked a significant decline in trading volume and turnover compared to the previous session on Friday, December 19, with volume down by 49% and turnover by 22%. However, the number of deals surged by 30%, indicating heightened investor engagement. The market capitalization currently stands at NGN 97.2 trillion.

A total of 129 listed equities participated in the day’s trading, with 34 recording gains and 20 posting losses. Aluminium Extrusion Industries led the gainers, appreciating by 9.72% to close at NGN 13.55 per share. It was closely followed by International Energy Insurance with a 9.69% gain, MeCure Industries at 9.64%, and Royal Exchange at 9.6%. On the flip side, Custodian & Allied topped the losers’ chart with a 10% decline to NGN 35.10 per share. Associated Bus Company also dropped by 10%, while Prestige Assurance Company and Guinea Insurance fell by 7.41% and 7.38% respectively.

Tantalizers emerged as the most actively traded stock, recording a volume of 50.2 million shares. First HoldCo followed with 32.6 million shares, Access Holdings with 27.3 million, and Custodian & Allied with 22.1 million shares.

The NGX All-Share Index (ASI) rose by 401.69 points or 0.26% to close at 152,459.07. This reflects a weekly gain of 2.02%, a four-week gain of 6.16%, and a year-to-date appreciation of 48.12%. Other indices also posted notable performances. The NGX Top 30 Index increased by 0.27%, the NGX Industrial Index by 0.91%, and the NGX Consumer Goods Index by 0.5%, which now boasts a year-to-date gain of 116.31%. The NGX Main Board Index rose by 0.39%, the NGX Pension Index by 0.01%, while the NGX Oil & Gas Index remained flat, showing a slight weekly decline of 0.12% and a year-to-date drop of 1.33%.