By Chukwuma Umeorah
The Nigerian Exchange (NGX) recorded a 17.3 per cent increase in turnover last week, with total equity transactions hitting N74.81 billion, even as the benchmark All-Share Index (ASI) declined by 0.62 per cent to close at 109,028.62 points.
According to the NGX Weekly Market Report for the week ended May 23, 2025, investors traded 3.93 billion shares in 105,220 deals, marking a significant uptick from the 2.61 billion shares worth N63.79 billion exchanged in 77,593 deals the previous week.
The Financial Services sector dominated the chart, accounting for 2.41 billion shares valued at N32.27 billion in 44,570 deals, representing 61.16 per cent and 43.14 per cent of the total volume and value respectively. It was trailed by the Services and Consumer Goods sectors.
Top traded equities by volume included Royal Exchange Plc, Fidelity Bank Plc, and Tantalizer Plc. These stocks jointly contributed 40.95 per cent of the total volume and 11.89 per cent of the value.
Despite the stronger activity, sectoral performance was mixed. The NGX Banking Index dropped by 1.52 per cent, while the Premium and Oil/Gas indices also closed lower. However, the NGX Consumer Goods Index rose by 2.18 per cent, followed by gains in the Industrial Goods and Insurance indices.
Fifty-two stocks gained during the week, fewer than the 61 recorded previously, while the number of decliners rose to 41 from 31. CUTIX Plc led the gainers with a 21.92 per cent rise, while Neimeth Pharmaceuticals was the biggest loser, down 17.03 per cent.
Meanwhile, the market capitalisation edged higher by 0.19 per cent to N68.75 trillion, buoyed by the listing of 6.84 billion ordinary shares of United Bank for Africa (UBA) following its N35-per-share rights issue. “This resulted in an estimated investor portfolio gain of N130 billion,” Cowry Asset Management noted in its weekly report.
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