The Nigerian Exchange Limited (NGX) recorded a total turnover of 2.41 billion shares valued at N55.51bn in 80,988 deals during the trading week ended February 16, 2025......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
This represents a decline compared to the previous week’s turnover of 3.05 billion shares worth N98.35bn in 72,535 deals.
The NGX All-Share Index (ASI) rose by two per cent to close at 108,053.95 points, while the market capitalization increased by 2.78 per cent to N67.418tn.
Despite the overall positive market sentiment, certain indices experienced declines. The NGX Main Board, NGX Banking, NGX AFR Bank Value, NGX AFR Div Yield, NGX MERI Growth, NGX Consumer Goods, and NGX Oil and Gas indices recorded losses of 0.79 per cent, 0.24 per cent, 0.39 per cent, 1.26 per cent, 1.03 per cent, 3.63 per cent, and 2.30 per cent respectively. The NGX Sovereign Bond index remained unchanged.
The Financial Services Industry led the activity chart with 1.398 billion shares worth N24.039bn traded in 31,919 deals, accounting for 57.92 per cent of the total equity turnover volume and 43.30 per cent of the total value.
The Services Industry followed with 247.303 million shares valued at N1.17bn in 6,277 deals, while the Consumer Goods Industry recorded a turnover of 153.78 million shares worth N3.939bn in 8,405 deals.
Top traded equities by volume were Sterling Financial Holdings Company Plc, Access Holdings Plc, and Secure Electronic Technology Plc, with a combined turnover of 455.47 million shares valued at N5.27bn in 6,654 deals.
These three stocks contributed 18.87 per cent to the total equity turnover volume and 9.50 per cent to the total value.
Market breadth was positive, with 65 equities appreciating in price compared to 58 in the previous week. Meanwhile, 31 equities depreciated in price, down from 34 recorded the previous week, and 54 equities remained unchanged, a decrease from 58 equities in the preceding week.
The NGX market continued to show resilience amidst fluctuating trading volumes, with investors maintaining confidence in key sectors despite sector-specific declines.