Equity markets across major African stock exchanges ended the last weekday of trading with mixed results, as trading activity showed varying levels of investor participation and turnover.
On the Nigerian Stock Exchange (NGX), a total of 527.14 million shares were traded in 24,616 deals, with transactions valued at ₦15.36 billion.
The activity reflected a 15% decline in traded volume and a 7% drop in turnover compared to the previous trading day on Thursday, November 6. Despite the slowdown in activity, the NGX maintained a strong market position, closing with a total market capitalisation of ₦95 trillion.
Trading on the Nairobi Securities Exchange (NSE) also showed a dip in activity. Investors traded 30.40 million shares in 6,045 deals, worth KES 508.15 million. Compared to the preceding session, the NSE recorded a 14% decrease in volume and a sharp 58% fall in turnover. However, the number of deals improved slightly by 2%, suggesting continued investor interest in specific counters. The bourse closed with a market capitalisation of KES 3.02 trillion.
Meanwhile, the Johannesburg Stock Exchange (JSE) posted lower trading volumes as well, with 234.58 million shares changing hands across 349,694 deals, corresponding to a market value of ZAR 21.25 billion. The figures represent a 24% fall in volume and a 21% decline in turnover from the previous trading day. The JSE’s total market capitalisation stood at ZAR 22.7 trillion at the close of trading.
In contrast, the Ghana Stock Exchange (GSE) emerged as the standout performer. The market saw 3.50 million shares traded, amounting to GHS 13.82 million in turnover. This reflects a remarkable 592% surge in trading volume and a 747% increase in turnover compared to Thursday’s session. The GSE’s market capitalisation closed at GHS 163.1 billion, boosted by heightened investor activity.
Market analysts say the varied outcomes reflect differing investor sentiments driven by domestic economic conditions, corporate earnings positioning, and global market influences. While West Africa’s leading market, Nigeria, and Southern Africa’s JSE experienced cooling investor momentum, Ghana’s bourse witnessed heightened trading interest, possibly driven by renewed confidence in select equities.
More trading insights are expected as markets reopen in the coming week.
