KEY POINTS
- The NGX All-Share Index and market capitalisation appreciated by 2.15% and 2.16% to close at 196,968.15 points and ₦126.437 trillion.
- Weekly trading volume reached 3.695 billion shares valued at ₦177.687 billion, a 10.7% decline in value compared to the previous week.
- The Financial Services Industry dominated market activity, accounting for 66.14% of the total equity turnover volume.
- Significant listings occurred on March 6, including over 105 million additional shares for Fidson Healthcare Plc and 68.15 million units for Nigeria Real Estate Investment Trust.
MAIN STORY
The Nigerian Exchange (NGX) closed the week on a bullish note as major indices trended upward, despite a noticeable dip in the total value of transactions. Investors exchanged 3.695 billion shares worth ₦177.687 billion in 370,980 deals, compared to 5.494 billion shares valued at ₦196.709 billion in the preceding week. This resulted in a 10.7% week-on-week decline in transaction value.
Sectoral performance showed the Financial Services Industry leading the chart with 2.444 billion shares (valued at ₦72.029 billion) traded in 145,628 deals. This sector alone contributed 66.14% to the total volume and 40.54% to the total value of equity turnover. The Oil and Gas Industry followed in second place, while the Services Industry ranked third. Notably, the combined trading in Jaiz Bank Plc, Fortis Global Insurance Plc, and Access Holdings Plc accounted for 17.90% of the total volume.
The market breadth was positive as 44 equities appreciated in price, up from 32 in the previous week, while 58 equities depreciated. While the All-Share Index rose, several specialized indices including NGX Insurance, NGX Consumer Goods, and NGX Sovereign Bond closed lower. The week also saw capital adjustments, with Fidson Healthcare Plc listing 105,003,725 additional shares from its Employee Share Scheme, bringing its total issued shares to 2.4 billion.
WHAT’S BEING SAID
- “The NGX All-Share Index and market capitalisation appreciated by 2.15 per cent and 2.16 per cent to close at 196,968.15 points and N126.437 trillion,” as recorded in the Weekly Exchange Report.
- The Exchange noted that the additional Fidson shares arose from the “Fidson Healthcare Plc’s Employee Share Scheme,” increasing total paid-up shares to 2,400,000,000.
- Regarding the Real Estate Investment Trust, the Exchange stated the units were listed under a “N400 billion issuance programme”.
WHAT’S NEXT
- Investors will monitor if the Services and Oil & Gas sectors can maintain their top-three ranking in the coming week.
- The market will react to the increased liquidity in Fidson Healthcare Plc and the Nigeria Real Estate Investment Trust following their new listings.
- Analysts are watching the NGX Growth and NGX Sovereign Bond indices to see if they can recover from their respective 15.31% and 3.01% weekly declines.
BOTTOM LINE
The Bottom Line is that the NGX remains in a growth phase despite lower transaction volumes. With the All-Share Index nearing the 197,000-point mark and market capitalization exceeding ₦126 trillion, investor confidence appears resilient, supported by strategic sector activity and new corporate listings.
 closed the week on a bullish note as major indices trended upward, despite a noticeable dip in the total value of transactions. Investors exchanged 3.695 billion shares worth ₦177.687 billion in 370,980 deals, compared to 5.494 billion shares valued at ₦196.709 billion in the preceding week.){kind=link}