By Taiye Olayemi
The Nigerian Stock Market witnessed a rollercoaster week as investors exchanged a massive 2.606 billion shares worth an eye-popping ₦63.79 billion in 77,593 high-stakes deals.
While this marks a slight dip from the previous week’s 2.645 billion shares valued at ₦77.01 billion, the trading floor remained a hive of activity with cash flying and deals surging.
The Financial Services sector roared ahead at the stock market, dominating the charts with a staggering 1.54 billion shares traded at ₦28.96 billion — accounting for more than half of the total market volume.
The Services sector followed with 286.83 million shares worth ₦1.71 billion, while the Consumer Goods sector wasn’t left behind, recording 202.57 million shares valued at ₦7.44 billion.
Among the week’s most traded equities were FCMB Group Plc, Access Holdings Plc and Tantalizer Plc, jointly pushing 600.68 million shares worth ₦6.57 billion through the market in just over 7,000 transactions. Their aggressive showing contributed 23.05 per cent to total volume and over 10 per cent to market value.
Market momentum pushed the NGX All-Share Index up by 0.90 per cent, closing strong at 109,710.37 points, while market capitalisation leapt to ₦68.95 trillion. Despite the upbeat tempo, only 61 equities recorded gains, down from 68 the previous week. Meanwhile, 31 stocks declined, and 56 remained unchanged.
Investors rewarded top performers like Beta Glass, Champion Breweries, Caverton Offshore, FTN Cocoa, and Northern Nigeria Flour Mills with double-digit price jumps, while Multiverse Mining, Union Dicon Salt, NAHCO, University Press, and Legend Internet sank under selling pressure.
With the market’s pulse still racing, analysts anticipate another gripping week ahead as investors chase gains in a volatile but promising climate.
