Major stock exchanges across Africa recorded significant improvements in trading volumes and values on Tuesday, with Nigerian and Kenyan markets leading the surge despite a marginal decline in the number of deals executed.
The Nigerian Stock Exchange (NGX) posted impressive gains at the close of Tuesday’s trading session, with 655.9 million shares changing hands across 29,540 deals.
The total value of transactions reached NGN 29.39 billion, representing a substantial 159% increase in turnover compared to Monday’s session.
News.ng reports that trading volume jumped 80% from the previous day, signalling renewed investor interest in Africa’s largest economy. However, the number of deals declined by 9%, suggesting that larger block trades may have dominated the session. The NGX’s market capitalisation currently stands at NGN 90.8 trillion.
Kenya’s Nairobi Securities Exchange (NSE) mirrored Nigeria’s strong performance, with trading volume more than doubling on Tuesday. The exchange recorded 44.8 million shares traded in 5,870 deals, with a total market value of KES 1.22 billion.
The NSE saw a 102% improvement in volume and an even more impressive 180% surge in turnover value compared to Monday. Like its Nigerian counterpart, the exchange experienced an 8% decline in the number of deals. The NSE’s market capitalisation is currently valued at KES 2.97 trillion.
Trading activity on the Ghana Stock Exchange (GSE) presented a more modest picture on Tuesday. The exchange recorded 1.3 million shares traded, valued at GHS 3.27 million, with a market capitalisation of GHS 162.4 billion.
While trading volume increased by 2% from the previous session, turnover value declined by 16%, suggesting that lower-priced securities may have dominated transactions. The GSE did not report deal count data for comparison.
The synchronised surge in trading volumes across West and East African markets may indicate growing investor confidence in the region’s equities. The decline in deal counts on both the NGX and NSE, coupled with increased volumes and values, suggests that institutional investors may be executing larger transactions.
Market analysts will be watching to see if this momentum continues through the rest of the trading week, particularly as global economic conditions and local currency movements continue to influence investor sentiment across African markets.
