The Nigerian Stock Exchange (NGX) closed Thursday’s session with a significant decline in trading volume despite showing resilience in deal activity, as investors traded shares worth nearly NGN 29.4 billion across multiple sectors.
Market Summary
At the close of trading, 785.3 million shares changed hands in 32,669 deals, representing a total turnover of NGN 29.39 billion.
According to data released by the NGX, the session recorded a sharp 37% drop in volume and a marginal 1% decrease in turnover compared to Tuesday’s trading day. However, the number of deals improved by 17%, indicating sustained investor participation despite the reduced volume.
The exchange’s market capitalization currently stands at NGN 90.8 trillion, reflecting the overall value of listed securities.
Top Performers
Consumer goods manufacturer PZ Cussons Nigeria emerged as the day’s biggest gainer, with its share price surging 10% to close at NGN 37.95. The company was followed by Eterna, which gained 9.94%, while Champion Breweries and Tantalizers posted gains of 9.82% and 5.96% respectively.
Of the 130 equities that participated in trading, 34 stocks advanced while 26 declined, with the remainder closing flat.
Laggards
On the losing side, RT Briscoe suffered the steepest decline, shedding 9.89% of its value to close at NGN 3.37 per share. Thomas Wyatt Nigeria fell 9.82%, while Sovereign Trust Insurance and International Energy Insurance dropped 9.33% and 7.78% respectively.
Banking Sector Dominates Volume
The banking sector dominated trading activity by volume, with United Bank for Africa and Wema Bank each recording 152 million shares traded. First HoldCo followed with 112 million shares, while Zenith Bank accounted for 47.1 million shares, underscoring continued investor interest in Nigeria’s financial services sector.
Market Outlook
The mixed performance reflects cautious sentiment among investors, with the decline in trading volume suggesting possible profit-taking or a wait-and-see approach as market participants assess economic conditions and corporate earnings prospects.
Analysts will be watching to see whether the improved deal count signals renewed investor confidence or merely represents fragmented trading activity in a volatile market environment.
