African stock markets closed Wednesday on a mixed note, with subdued activity in Nigeria and Ghana contrasting sharply with renewed momentum in South Africa and Kenya, according to end-of-session data from the continent’s major exchanges.
On the Nigerian Exchange (NGX), trading activity eased notably. A total of 752.42 million shares were exchanged across 55,739 deals, with a combined value of ₦29.62 billion.
Compared with the previous trading session on Tuesday, January 13, market volume declined by 33%, while turnover fell by 12%, reflecting softer investor participation.
However, the number of deals rose by 13%, suggesting broader but smaller-sized transactions. Despite the slowdown, the NGX’s market capitalization remained resilient at ₦106.8 trillion, underscoring sustained investor confidence in the overall market valuation.
According to available data, the Ghana Stock Exchange (GSE) also recorded weaker trading conditions. A total of 986,600 shares changed hands, valued at GHS 5.26 million, marking a 13% drop in volume and a sharp 48% decline in turnover compared with the prior session.
The steep fall in value traded points to reduced activity in higher-priced equities. Market capitalization on the GSE stood at GHS 176.5 billion, holding steady despite the day’s muted performance.
In contrast, the Johannesburg Stock Exchange (JSE) posted a strong rebound, emerging as the day’s standout performer. Investors traded 300.43 million shares across an impressive 444,594 deals, with total turnover reaching ZAR 33.69 billion.
Relative to Tuesday’s session, trading volume improved by 15%, turnover surged by 33%, and deal count rose by 23%, highlighting renewed buying interest and heightened market participation. The JSE’s market capitalization closed at ZAR 24.4 trillion, reinforcing its position as Africa’s largest and most liquid bourse.
Similarly, the Nairobi Securities Exchange (NSE) recorded robust gains in activity. Trading volume jumped by 68% to 25.96 million shares, while turnover soared by 225% to KES 1.19 billion, signalling strong demand in select counters.
However, the number of deals slipped by 10% to 5,286, indicating that the surge in value was driven by fewer but larger transactions. The NSE’s market capitalization stood at KES 3.04 trillion.
Overall, Wednesday’s trading painted a picture of divergent investor sentiment across African markets, with West African exchanges exercising caution, while Southern and East African markets benefited from renewed trading momentum.
