Nigerian Exchange Limited (NGX) investors recorded a significant rise in trading activity, exchanging 2.2 billion shares worth ₦75.409 billion in 70,329 transactions during the review week. This increased compared to the previous week’s 1.854 billion shares valued at ₦56.025 billion traded in 51,386 deals. Transaction value surged by 34.6%, resulting in a ₦19.384 billion gain for investors.
The market operated for only four days due to the public holiday on May 1, celebrated as Workers’ Day. The Financial Services sector led the week, with 1.432 billion shares worth ₦30.908 billion traded across 33,095 deals, representing 65.09% of total volume and 40.99% of total value. The ICT sector followed with 230.248 million shares worth ₦27.453 billion in 4,811 deals, while Consumer Goods took third place, contributing 166.345 million shares valued at ₦4.708 billion in 8,284 transactions.
Fidelity Bank, Access Holdings, and UBA were the standout equities, jointly accounting for 704.639 million shares worth ₦16.757 billion in 10,466 transactions. These three equities comprised 32.03% of the total trading volume and 22.22% of the total value.
The NGX All-Share Index climbed 0.27% to close at 106,042.57, while market capitalization rose 0.28% to hit ₦66.648 trillion. While most indices closed higher, specific sectors such as Banking, Insurance, Oil and gas, and Commodities experienced marginal declines, with Banking falling by 0.38% and Oil and gas dropping 2.90%.
Of the traded equities, 52 recorded gains, including Associated Bus, Legend Internet, and Fidson Health, which appreciated by 44.87%, 32.40%, and 22.85%, respectively. Conversely, 37 equities declined, led by Ecobank, Multiverse Mining, and Livestock Feeds, recording losses of ₦6.00, ₦1.45, and ₦1.01, respectively. Fifty-nine stocks remained unchanged, slightly increasing from the previous week’s 57.
Investors saw promising growth in certain sectors, reflecting sustained market activity despite the shortened trading week.
