Major stock exchanges across Africa posted divergent results in their latest trading sessions, with markets displaying varying levels of activity as investors navigated the opening days of the week.
The Nigerian Stock Exchange (NGX) concluded Monday’s trading with 388.2 million shares changing hands across 28,485 deals, generating a turnover of ₦31.1 billion.
News.ng reports that while share volume declined by 42% compared to Friday’s session, the exchange recorded strong improvements in value metrics, with turnover rising by 49% and the number of deals increasing by 18%.
The NGX maintained its market capitalisation at ₦93.2 trillion, remaining Africa’s second-largest bourse by market value.
Kenya’s Nairobi Securities Exchange (NSE) experienced a quieter Monday session, with 14.6 million shares traded in 5,120 deals worth KES 393.4 million. The exchange recorded declines across most metrics compared to Friday, with volume down 32% and turnover falling 20%. However, the number of deals improved marginally by 4%, suggesting sustained investor participation despite reduced trading intensity.
The NSE’s market capitalisation stands at KES 2.96 trillion.
South Africa’s Johannesburg Stock Exchange (JSE), the continent’s largest by market capitalisation at ZAR 22.9 trillion, recorded widespread weakness in Friday’s trading session. The bourse saw 236.5 million shares traded across 365,130 deals, generating ZAR 24.8 billion in turnover.
All key metrics declined compared to Thursday’s session, with volume down 33%, turnover falling 23%, and the number of deals decreasing 15%, indicating reduced market activity as the week drew to a close.
In contrast to its regional peers, the Ghana Stock Exchange (GSE) posted strong gains in Friday’s trading. Share volume surged by 63% to 421,111 shares, while turnover improved by 25% to GHS 1.4 million, marking a notable uptick in market activity.
The GSE’s market capitalisation stands at GHS 165.4 billion, making it the smallest of the four exchanges by market value.
The mixed performance across African markets reflects varied local economic conditions and investor sentiment. While West African exchanges in Nigeria and Ghana showed resilience with improved turnover and deal activity, East and Southern African markets experienced pullbacks in trading intensity.
Market analysts note that the divergent trends underscore the importance of country-specific factors in driving African equity market performance, rather than a unified continental pattern. Investors will be monitoring upcoming economic data releases and corporate earnings reports for signals on market direction.
The contrasting fortunes of these exchanges also highlight the growing maturity and independence of African capital markets, each responding to distinct domestic catalysts rather than moving in lockstep.
