Nigeria’s stock market recorded a slower trading week as investors exchanged shares worth N111.48 billion over a shortened three-day trading period.
The Nigerian Exchange (NGX) operated for only three days due to the Eid-el-Kabir public holidays, resulting in a significant decline in trading activity compared to the previous week.
Despite the drop in transactions, the market still ended the week on a positive note, with investors showing confidence in several key sectors and stocks.
According to market data, traders exchanged 2.39 billion shares in 241,313 deals, representing a sharp decline from the N161.75 billion worth of shares traded the previous week.
This means the total value of transactions fell by more than 31 percent, highlighting a slower pace of activity across the market.
However, the overall market remained resilient as the Nigerian Exchange gained value during the period.
The market capitalisation increased from N160.07 trillion to N160.50 trillion, reflecting fresh gains recorded by several listed companies.
Financial Stocks Dominate Trading
The financial sector remained the busiest segment of the market, accounting for the majority of trading activity during the week.
Banks and other financial institutions recorded over 1.65 billion shares traded, valued at more than N48 billion, making the sector the biggest contributor to overall market turnover.
The services and ICT sectors followed behind, recording significant volumes of shares exchanged by investors.
Fidelity, Access Holdings Lead Activity
Among individual stocks, Fidelity Bank, Access Holdings, and The Initiates Plc emerged as the most actively traded companies.
Together, the three firms accounted for a large share of the market’s total trading volume, attracting strong investor interest throughout the week.
Biggest Gainers
Several stocks delivered impressive returns to investors despite the slower trading week.
International Energy Insurance emerged as one of the strongest performers after posting significant gains.
Other notable gainers included:
• Sovereign Trust Insurance
• Tantalizers
• Airtel Africa
• NEM Insurance
These companies recorded notable increases in their share prices, rewarding investors who held their stocks during the period.
Top Losers
While some investors celebrated gains, others experienced losses as several stocks ended the week lower.
Dangote Sugar suffered one of the biggest declines, leading the losers’ chart.
Other companies that recorded losses included:
• The Initiates Plc
• Premier Paints
• CAP Plc
• Transcorp Power
Their share prices dropped significantly during the week, reflecting profit-taking activities and changing investor sentiment.
Market Remains Positive Despite Lower Activity
Although trading volumes and transaction values declined due to the shortened trading week, analysts say the increase in market capitalisation suggests investors remain optimistic about the Nigerian stock market.
With several sectors still attracting strong interest, market watchers will be looking closely at trading activities in the coming weeks to see whether the positive momentum can be sustained.
