African stock markets closed the trading week with mixed results on Friday, as the Nigerian Stock Exchange posted strong volume gains while the Nairobi Securities Exchange experienced a notable pullback in activity.
The Nigerian Stock Exchange (NGX) recorded impressive trading volumes on Friday, with 671.4 million shares changing hands across 24,139 deals, valued at NGN 20.9 billion.
The session marked a 12% increase in share volume and a 2% rise in the number of deals compared to Thursday’s trading, though turnover value declined by 8%.
With a market capitalisation of NGN 94.4 trillion (approximately $58 billion), the NGX remains West Africa’s largest equity market and continues to demonstrate resilience amid regional economic challenges.
The Ghana Stock Exchange (GSE) delivered the most impressive performance among the three markets, posting a 63% surge in trading volume to 421,111 shares, with turnover climbing 25% to GHS 1.4 million. The significant uptick in activity suggests renewed investor interest in Ghanaian equities as the market, currently valued at GHS 165.4 billion, continues its recovery trajectory.
In contrast, the Nairobi Securities Exchange (NSE) saw trading activity contract sharply on Friday. Share volume fell 25% to 21.4 million shares, while turnover plummeted 42% to KES 489.4 million across 4,907 deals – a 5% decrease in transaction count. The pullback comes as Kenya’s market, with a capitalisation of KES 2.95 trillion (approximately $22.8 billion), adjusts to recent policy developments.
The divergent performance across East and West African markets reflects the varying economic conditions and investor sentiment in different regions. While Ghana and Nigeria showed positive momentum heading into the weekend, Kenya’s market faces headwinds that analysts will be watching closely when trading resumes next week.
Market participants across the continent will be monitoring macroeconomic indicators, currency movements, and policy announcements that could influence trading patterns in the coming sessions.
