KEY POINTS
- The Nigerian Exchange Ltd. (NGX) ended the trading week on a positive note, with investors gaining N1.765 trillion in total wealth.
- The All-Share Index (ASI) and market capitalization both rose by 1.39%, closing at 201,156.86 points and N129.126 trillion respectively.
- Trading was limited to three sessions due to the Eid-el-Fitr public holidays, yet turnover volume surged to 8.761 billion shares.
- The ICT sector dominated market activity, contributing over 60% of the total trading volume for the week.
MAIN STORY
The Nigerian Exchange Ltd. (NGX) was reported to have closed the week with significant growth, as the All-Share Index (ASI) and market capitalization rose by 1.39 per cent. According to the weekly market report, the ASI finished at 201,156.86 points while capitalization reached N129.126 trillion, a notable increase from the previous week’s figures of 198,407.30 points and N127.361 trillion.
This surge resulted in NGX weekly gains totaling N1.765 trillion for investors during a week shortened to three trading days following the Eid-el-Fitr celebrations.
Sectoral performance was described as broadly positive, although several indices including Insurance, Oil and Gas, and Consumer Goods recorded declines. The ICT sector reportedly led the activity chart, accounting for 5.330 billion shares valued at N46.825 billion. Financial services followed closely, while the top three equities—E-Tranzact International Plc, FCMB Group Plc, and Wema Bank Plc—accounted for nearly 70 per cent of the total equity turnover volume.
The Exchange also announced key listings during the week, including the NGX30U6 and NGXPENSIONU6 futures contracts on Monday, March 16. Furthermore, additional units of the Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF) were added to the Daily Official List following a scrip dividend. While stocks like John Holt and BUA Cement emerged as top gainers, others such as Zichis Agro-Allied Industries and Presco featured prominently on the losers’ chart.
WHAT’S BEING SAID
- “Investors gained N1.765 trillion during the week, which had three trading sessions following public holidays,” the NGX weekly report confirmed.
- “The ICT sector led the activity chart… contributing 60.84 per cent to total volume,” the Exchange data indicated.
- “The top gainers for the week were John Holt and BUA Cement, which appreciated significantly,” a market analyst noted regarding the price movements.
WHAT’S NEXT
Market participants are expected to monitor the impact of the newly listed futures contracts on overall market liquidity in the coming week. Analysts suggest that the strong performance of the ICT and Financial Services sectors may continue to drive the index, provided that profit-taking in the Oil and Gas sector stabilizes. Investors will also be watching for further corporate actions following the recent scrip dividend listing by the Nigeria Infrastructure Debt Fund.
BOTTOM LINE
The Bottom Line is that the Nigerian market remains resilient despite a shortened trading calendar. The N1.7 trillion gain shows that investor confidence is high, particularly in the ICT and Banking sectors, even as the introduction of new futures contracts signals a move toward more sophisticated trading instruments on the NGX.
 was reported to have closed the week with significant growth, as the All-Share Index (ASI) and market capitalization rose by 1.39 per cent. According to the weekly market report, the ASI finished at 201,156.86 points while capitalization reached N129.126 trillion, a notable increase from the previous week's figures of 198,407.30 points and N127.361 trillion.){kind=link}