Trading activities on the Nigerian Stock Exchange (NGX) weakened on the last weekday of the trading week, as investors adopted a more cautious stance despite notable rallies in several stocks.
News.ng reports that at the close of the session, a total of 539.84 million shares were exchanged in 47,998 deals, with a combined market value of NGN 16.69 billion.
This represented a sharp slowdown compared with the previous trading day, Thursday, January 15, as market volume and turnover both declined by 47%, while the number of deals fell by 6%.
Despite the softer trading metrics, the overall market size remained robust, with the NGX’s total market capitalization standing at NGN 106.4 trillion, reflecting sustained investor confidence in the broader equity market.
Red Star Express Plc emerged as one of the session’s standout performers, closing at NGN 13.20, a 10% gain from its previous close of NGN 12.00. The logistics firm has delivered a strong start to the year, advancing 51.7% year-to-date from its opening price of NGN 8.70. Over the past four weeks alone, the stock has gained 43%, placing it among the better-performing equities on the exchange.
NCR Nigeria Plc also recorded a maximum price movement, rising 10% to close at NGN 128.55 from NGN 116.90. The stock has surged 76.8% year-to-date, ranking sixth on the NGX performance table and underscoring strong investor appetite for the counter.
SCOA Nigeria Plc continued its impressive rally, closing at NGN 14.90, up 10% from NGN 13.55. Having started the year at NGN 7.10, SCOA has now gained an outstanding 110%, making it the third-best performing stock on the NGX so far this year.
On the losing side, McNichols Plc retreated by 8.8% to close at NGN 6.00, down from NGN 6.58. The pullback followed a strong rally, as the stock remains up 83.5% year-to-date and has gained 88% in the past four weeks, suggesting profit-taking by short-term investors.
Legend Internet Plc closed lower at NGN 5.50, shedding 7.6% from its previous close of NGN 5.95. The stock has posted a modest 3.97% gain year-to-date, placing it in the lower half of NGX performers.
Cornerstone Insurance Plc also ended the session in the red, declining 6.5% to NGN 6.35 from NGN 6.79. Nonetheless, the insurer remains up 6.54% year-to-date and has gained 15% over the past four weeks, indicating underlying resilience.
Analysts note that the sharp drop in trading volume and turnover reflects a pause in market momentum rather than a broad-based sell-off.
