Nigerian equities market records N158.29bn weekly turnover amid Q3 earnings season
Nigerian Exchange Limited (NGX) recorded a weekly equity turnover of N158.29 billion, up from N155.02 billion the previous week.
In Brief
- •Nigerian Exchange Limited (NGX) recorded a weekly equity turnover of N158.29 billion, up from N155.02 billion the previous week.
- •The NGX All-Share Index (ASI) declined by 0.97% week-on-week to close at 248,363.55 points.
- •The Financial Services Industry led the activity chart with 2.005 billion shares valued at N82.924 billion.
- •Access Holdings Plc, Zenith Bank Plc, and United Bank for Africa Plc were the three most actively traded equities by volume.
- •The bond market saw a 71.03% increase in transaction value to N146.416 million.
Why It Matters
The increase in weekly equity turnover reflects the market's activity as investors position ahead of the third-quarter earnings season. The performance of the NGX All-Share Index and the leading sectors indicates the market's resilience and the impact of profit-taking and anticipation of corporate earnings. The bond market's improvement suggests growing investor confidence and liquidity in the financial markets.
Key Details
- Weekly Equity Turnover
- N158.29 billion
- NGX All-Share Index (ASI)
- 248,363.55 points
- Financial Services Industry Shares
- 2.005 billion
- Financial Services Industry Value
- N82.924 billion
- Bond Market Transaction Value
- N146.416 million
Context & Background
The Nigerian equities market has been experiencing significant volatility and growth, with the NGX All-Share Index maintaining a year-to-date return of 59.60%. The market's performance is influenced by various factors, including profit-taking, anticipation of corporate earnings, and sectoral activities.
Original Reporting & Sources
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