Trading activities on the Nigerian Exchange Limited ended on a positive note last week, as the equity market gained N182bn amid performance from financial services stocks.
Despite a shortened trading week due to the public holiday declared on Wednesday, the market capitalisation of listed equities rose to N56.473tn from N56.291tn, indicating a week-on-week increase of 0.32 per cent. Similarly, the All-Share Index gained 321.15 points to close at 99,587.25 basis points compared to the previous week’s close of 99,266.10.
The financial services sector dominated the market both in volume and value, reflecting increased investor appetite for banking and insurance stocks. A total of 2.157bn shares worth N75.407bn were traded in 41,446 deals, as against 2.633bn shares valued at N49.258bn exchanged in 41,610 deals the previous week.
The financial services industry led the activity chart with 1.419bn shares valued at N44.283bn traded in 20,520 deals. It contributed 65.78 per cent and 58.72 per cent to the total equity turnover volume and value, respectively.
It was followed by the consumer goods industry with 193.816m shares worth N5.405bn in 5,982 deals, while the conglomerates industry recorded a turnover of 168.221m shares worth N1.683bn in 2,138 deals.
Fidelity Bank Plc, Access Holdings Plc, and United Bank for Africa Plc emerged as the top three equities, accounting for 763.092m shares worth N17.503bn in 5,883 deals. They contributed 35.36 per cent and 23.22 per cent to the total equity turnover volume and value, respectively.
Market breadth closed positive, with 41 gainers, 45 losers, and 68 equities unchanged.
Leading the gainers’ chart for the week was Abbey Mortgage Bank Plc, which rose by 44.44 per cent to close at N2.60. Daar Communications Plc followed with a 33.33 per cent gain to close at N0.40, while Secure Electronic Technology Plc appreciated by 29.17 per cent to close at N0.53.
On the other hand, Juli Plc topped the losers’ chart with a 30.63 per cent decline to close at N1.45. Ellah Lakes Plc shed 21.21 per cent to close at N2.70, while The Initiates Plc dropped by 20.59 per cent to close at N1.04.
Meanwhile, in the Exchange Traded Products segment, a total of 1.039m units valued at N43.613m were traded in 83 deals, an improvement compared to 442,959 units valued at N22.567m exchanged in 59 deals in the previous week.
In the listings segment, the NGX admitted 1,719,576,719 additional ordinary shares of 50 kobo each of Multi-Trex Integrated Foods Plc on April 30, 2025, at N1.89 per share by way of private placement. With this, the company’s total issued shares increased from 4.511bn to 6.231bn ordinary shares.
The PUNCH reported that the Nigerian Exchange Group Plc recorded a 58 per cent rise in profit after tax to N2.11bn in the first quarter ended March 31, 2025, compared to N1.34bn reported in the corresponding period of 2024.
