The Nigerian Exchange Limited (NGX) ended trading on a quiet note on Wednesday, gaining N67 billion in market capitalisation, even though overall trading activities dropped significantly. The day’s session reflected mixed investor sentiment, as some sectors showed signs of improvement while others remained subdued.
At the end of trading, the All-Share Index (ASI) recorded a slight increase of 105.70 points, which translates to a marginal gain of 0.08%, settling at 132,557.43 points. This movement pushed the market capitalisation up to N83.9 trillion from N83.83 trillion recorded in the previous trading session.
Despite this modest gain in index and capitalisation, trading activities across the board declined sharply. According to the analysis reported, total volume of shares traded dropped by 12% to 681.2 million units, while market turnover fell by 36% to N17.02 billion. The number of deals completed also reduced by 18%, closing at 26,931 transactions.
A total of 128 companies participated in Wednesday’s trading, with 29 stocks appreciating in value, 37 recording losses, and 62 remaining unchanged. Academy Press Plc led the list of gainers, climbing 10% to close at N7.70 per share. The Initiates Plc followed with a 9.98% gain to N13.34, while Ikeja Hotel, Nigerian Enamelware, and NAHCO also posted gains of 9.95%, 9.84%, and 9.65%, respectively.
On the other hand, Austin Laz & Company led the losers’ chart with a 10% drop to N2.34. Other major losers included Tripple Gee & Co., Omatek Ventures, Daar Communications, and Multiverse Mining, all recording losses ranging from 9.95% to 9.09%.
In terms of trade volume, Access Holdings Plc was the most actively traded stock, with 98.6 million shares worth N2.74 billion changing hands. Ellah Lakes followed with 61.1 million shares valued at N581.6 million. Also among the top five in volume were Japaul Gold (49.2 million), Royal Exchange (43.8 million), and Universal Insurance (32.1 million shares).
When considering value of shares traded, Access Holdings again topped the list with N2.74 billion in turnover. It was followed by Dangote Cement, which recorded N1.3 billion from 2.7 million shares. Aradel Holdings also posted N1.23 billion from 2.45 million shares traded. GTCO and WAPCO rounded up the top five in value traded with N1.14 billion and N1.03 billion respectively.
Across market indicators, performance was largely positive. The NGX Top 30 Index rose by 0.08%, Banking Index advanced by 0.44%, and Consumer Goods Index increased by 0.3%. Similarly, the Pension Index appreciated by 0.24%, while the Oil & Gas Index and Insurance Index posted moderate gains of 0.21% and 0.13% respectively.
Despite the drop-in trading activity, the year-to-date (YTD) performance of the ASI stood strong at 28.79%. This indicates sustained investor confidence, even though recent trading sessions have shown signs of cautious profit-taking and mild bearish sentiments.
Market analysts noted that the flat close could be attributed to a wait-and-see approach adopted by investors, especially as macroeconomic signals remain mixed. While some blue-chip stocks continue to attract buying interest, others are experiencing selloffs amid rising inflation and policy uncertainty.
Looking ahead, stakeholders are hopeful that corporate earnings expected in the coming weeks could influence fresh market movement, especially from the banking and manufacturing sectors.
