IN DETAIL: Stock market investors trade N220.6bn shares as banking sector dominate activity
The Nigerian Exchange (NGX) saw a significant increase in trading activity, with market capitalization rising by 6.35% over the week. The financial services sector dominated the market, accounting for the majority of both share volume and total value traded.
Why it matters
The surge in market activity and capitalization reflects investor confidence and the critical role of the banking sector in Nigeria's financial stability.
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, valued at N154.39 billion, that were exchanged in 258,567 deals the previous week.
The figure represents a 42.9 percent increase in turnover value over the five-day trading period.
The report also showed that the market capitalisation appreciated by 6.35 percent to close at N156.44 trillion, while the all-share index (ASI) rose by the same margin to 243,798.76 basis points.
The financial services industry led the activity chart by volume, with investors trading 2.89 billion shares valued at N147.36 billion in 106,603 deals.
According to the exchange, the sector contributed 79.48 percent and 66.81 percent to the total equity turnover volume and value, respectively.
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