NGX Records ₦49. 23bn Turnover as Trading Volume Climbs 9%, Banking Index Slips - InsideBusiness - Business News in Nigeria
The Nigerian Exchange (NGX) recorded a mixed trading session on Tuesday as investors traded932. 37 million shares valued at ₦49. 23 billion across 49,993 deals, with transaction volume rising despite a decline. . .
The Nigerian Exchange (NGX) recorded a mixed trading session on Tuesday as investors traded932. 37 million shares valued at ₦49. 23 billion across 49,993 deals, with transaction volume rising despite a decline in market activity. Market data showed that a total of932,370,092 shares worth ₦49. 23 billionexchanged hands in49,993 dealsat the close of trading. Compared with the previous trading session on Monday, July 20,trading volume increased by nine per cent, while thenumber of deals fell by 12 per cent, indicating larger average trade sizes during the session. The Exchange’smarket capitalisation closed at ₦159. 1 trillion, reflecting the continued resilience of the domestic equities market. Trading activity was broad-based, with134 listed equitiesparticipating in the session. Market sentiment remained positive as34 stocks posted gains against 22 decliners. UPDC Real Estate Investment Trustemerged as the session’s best-performing stock, appreciating by9. 86 per centto close at₦11. 70 per share. Thomas Wyatt Nigeriafollowed with a9. 73 per centgain, whileIkeja Hotelrose9. 53 per centandThe Initiatesadvanced9. 52 per cent. On the downside,MeCure Industriesled the losers’ chart after shedding9. 95 per centto close at₦76. 95 per share. Haldane McCalldeclined by9. 86 per cent,Critical Minerals Financing Corpfell9. 85 per cent, whileTrans-Nationwide Expresslost9. 68 per cent. Access Holdingsdominated trading by volume, accounting for337 million sharesexchanged during the session. FCMB Groupfollowed with88. 8 million shares, whileFirst HoldCo and Zenith Bankrecorded volumes of72. 7 million and 37. 4 million shares, respectively. Sectoral performance was largely positive, with theInsurance Index leading gains after advancing 0. 49 per cent. TheConsumer Goods Index appreciated by 0. 47 per cent, while theIndustrial and Oil & Gas indices added 0. 04 per cent and 0. 03 per cent, respectively. TheBanking Index, however, bucked the positive trend,slipping marginally by 0. 02 per cent. The day’s performance reflected continued investor interest across key sectors, althoughmild profit-taking in banking stocks weighed slightly on the broader market. Strong participation in heavyweight financial stocks, particularlyAccess Holdings, FCMB Group and First HoldCo, underscored sustained liquidity in the equities market despite the modest decline in the number of executed deals.