African stock markets closed on Thursday on a mixed note, with trading activity improving on the Nigerian Stock Exchange (NGX) and the Ghana Stock Exchange (GSE), while the Nairobi Securities Exchange (NSE) recorded a sharp slowdown and the Johannesburg Stock Exchange (JSE) posted a marginally mixed performance.
In Lagos, trading activity on the NGX strengthened significantly. A total of 1.03 billion shares were exchanged in 51,194 deals, with a turnover valued at ₦31.36 billion.
Compared with the previous trading session on Wednesday, January 14, market volume rose by 36%, while turnover improved by 6%, indicating stronger value flow into equities.
However, the number of deals declined by 8%, suggesting that the higher turnover was driven by fewer but larger transactions. The NGX’s total market capitalisation stood at ₦106.3 trillion, underscoring sustained investor confidence in Nigeria’s equity market.
In contrast, the Nairobi Securities Exchange experienced a notable contraction in trading activity. Investors traded 9.34 million shares across 5,421 deals, with a market value of KES 360.96 million. Relative to the previous session, volume plunged by 64%, and turnover dropped sharply by 70%, reflecting subdued investor participation. The marginal 3% increase in deals suggests a higher number of smaller trades. The NSE’s market capitalisation closed at KES 3.05 trillion.
According to market data, South Africa’s Johannesburg Stock Exchange delivered a more balanced performance. The bourse recorded 312.01 million shares traded in 392,679 deals, with a total value of ZAR 33.12 billion. While trading volume improved slightly by 3%, turnover declined by 3%, and the number of deals fell by 12%, pointing to cautious trading sentiment. Despite the mixed session, the JSE remains Africa’s largest exchange, with a market capitalisation of ZAR 24.3 trillion.
Meanwhile, the Ghana Stock Exchange stood out with a strong rebound in activity. A total of 3.84 million shares valued at GHS 18.16 million changed hands during the session. Compared with Wednesday’s trade, volume surged by 289%, while turnover jumped by 245%, signalling renewed investor interest. The GSE’s market capitalisation closed at GHS 176.8 billion.
Overall, Thursday’s performance highlights divergent investor sentiment across African markets, with Nigeria and Ghana benefiting from increased activity. At the same time, Kenya and, to a lesser extent, South Africa faced more restrained trading conditions.
