Nigerian Exchange Sees N374bn in Share Trading Activity

Last week, investors on the Nigerian Exchange traded 7.77 billion shares valued at N374.04 billion, marking a significant increase compared to the previous week’s 7.075 billion shares worth N324.351 billion. The NGX share index increased by 2.27%, closing at 250,330.92 points, while the total market capitalization rose by 2.13% to N160.444 trillion.

The financial services sector dominated trading activity, with 4.774 billion shares valued at N196.352 billion across 153,515 deals, contributing 61.43% to total equity turnover. The top three equities, FirstHoldCo PLC, United Bank for Africa PLC, and Champ Hold Company PLC, accounted for 2.195 billion shares worth N99.820 billion.

Berger Paint PLC emerged as the top gainer with a 55.57% increase, closing at N168.95 per share. Fidel Bank PLC successfully listed an additional 12.974 billion ordinary shares after a private placement, raising its total issued shares to 50.20 billion.

Trans Nationwide Express PLC also listed 356.184 million ordinary shares.