Stock market investors traded a total of 3.64 billion shares worth N220.56 billion on the floor of the Nigerian Exchange (NGX) this week, according to the NGX weekly market report. The value of transactions increased compared with the 3.821 billion shares traded in the previous week, though the total value was lower than the N230.1 billion recorded last week.
The banking sector dominated activity, accounting for 45% of the total turnover, driven by trades in stocks such as Zenith Bank, Access Holdings, and Guaranty Trust Holding Company (GTCO). The industrial goods sector followed with 20% of the turnover, while the oil and gas sector contributed 15%.
Market capitalization closed the week at N56.7 trillion, up from N56.2 trillion at the start of the week, reflecting a 0.9% gain. The NGX All-Share Index (ASI) rose by 0.9% to 98,500 points, extending its year-to-date gain to 12.3%.
Analysts attributed the positive performance to continued buying interest in banking stocks, supported by strong corporate earnings reports and dividend declarations. However, they noted that the market remains sensitive to macroeconomic factors such as inflation and interest rate decisions by the Central Bank of Nigeria.
The NGX weekly report also highlighted that foreign portfolio investors accounted for 18% of total transactions, while domestic investors contributed 82%, indicating a continued dominance of local participation in the market.
