February 16, (THEWILL) – Nigeria equities market continues to reward investors with enhanced gains as the local bourse remained bullish at the end of the second week trading in February, 2025.
Market capitalisation, closed at N67.41 trillion on Friday, February 14, resulting in a N1.82 trillion gain against N65.59 trillion that trading opened with on Monday, February 10, constituting a growth of 2.7 percent.
This was a significant improvement over the N589 billion gain recorded by the stock market in the previous week.
The NGX All-Share Index also showed a positive sentiment of 2 percent rise last week – closing at 108,053.9 points against 105,933.05 points on the opening of trading during the week.
On the detailed weekly activities performance , a total turnover of 2.414 billion shares worth N55.512 billion in 80,988 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 3.051 billion shares valued at N98.350 billion that exchanged hands the previous week in 72,535 deals.
As has been the trend, the Financial Services Industry (measured by volume) led the activity chart with 1.398 billion shares valued at N24.039 billion traded in 31,919 deals; thus contributing 57.92 percent and 43.30 percent to the total equity turnover volume and value respectively.
This reflects investors’ enhanced appetite for the bank stocks as the financial institutions begin to release their FY 2024 reports and declare dividends.
The Services industry followed with 247.303 million shares worth N1.165 billion in 6,277 deals. Third place was the Consumer Goods Industry, with a turnover of 153.776 million shares worth N3.939 billion in 8,405 deals.
Trading in top three equities namely Sterling Financial Holdings Company Plc, Access Holdings Plc and Secure Electronic Technology Plc (measured by volume) accounted for 455.469 million shares worth N5.273 billion in 6,654 deals, contributing 18.87 percent and 9.5 percent to the total equity turnover volume and value respectively during the week.
On last Friday’s daily trading result, a total of 478,758,200 shares in 15,613 deals, corresponding to a market value of N13,906,231,745.64, were traded.
Compared with the previous NGX trading day (Thursday, February 13), Friday’s data shows a 12 percent improvement in volume, 51 percent rise in turnover, but 4 percent decline in deals.
The current market capitalisation of the NGX is N67.41 trillion.
In the aggregate, 125 NGX listed equities participated in trading, ending with 38 gainers and 28 losers.
Regarding the performance of NGX market indices, the benchmark NGX All-Share Index (ASI) declined 1,118.09 (-1.02 percent) points to close at 108,053.95, representing a 1-week gain of 2 percent, a 4-week gain of 5.57 percent, and an overall year-to-date gain of 4.98 percent.
THEWILL reports that positive sentiment prevailed in the domestic stock market the previous week (the first trading week of February), with all five trading sessions closing in the green as investors reacted positively to a fresh batch of corporate earnings reports, thereby sustaining the positive outlook that ended the month of January.
Stock market analysts predict continued bullish momentum in the coming week, driven by a fresh round of corporate results and dividend announcements, with investor optimism leaning toward stocks with strong financial performance.
They noted, however, that the trend in the CBN Monetary Policy Rate decision in the MPC meeting this week will also affect investors’ sentiments as fortune hunters continue to look for greener pastures in the financial markets.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
