Financial Stocks Account for 82% of NGX Trading Volume in Bullish Week

Financial stocks dominated trading on the Nigerian Exchange (NGX) last week as investors continued to channel capital into banking and financial services equities with the sector accounting for more than 82 percent of all shares traded during one of the market’s strongest weeks this year.

According to the NGX Weekly Report, the Financial Services Industry recorded a turnover of 3.580 billion shares valued at N88.635 billion in 99,488 deals, representing 82.10 percent of total trading volume and 42.14 percent of the total value of equities traded during the week.

The sector’s dominance came as overall market activity strengthened significantly.

Investors exchanged 4.360 billion shares worth N210.331 billion in 223,284 deals, compared with 2.507 billion shares valued at N123.223 billion in 173,561 deals the previous week.

The concentration of trading within financial stocks remained evident in the week’s most active equities.

Fortis Global Insurance Plc, United Bank for Africa Plc and Access Holdings Plc accounted for a combined 2.287 billion shares valued at N35.232 billion in 20,975 deals, contributing 52.46 percent of total market volume and 16.75 percent of total transaction value.

While financial stocks remained the market’s primary source of liquidity, buying activity also spread across other sectors.

The Consumer Goods Industry ranked second with 188.039 million shares worth N15.343 billion, followed by the Services Industry, which recorded 142.292 million shares valued at N2.020 billion.

The strong trading activity in financial stocks coincided with a positive week for the broader market.

The NGX All-Share Index (ASI) advanced 2.36 percent to 246,992.44 points, while equity market capitalisation increased 2.40 percent to N159.559 trillion, adding approximately N3.7 trillion to investors’ wealth.

Although the NGX Oil & Gas Index emerged as the week’s best-performing sector with a 9.10 percent gain, the Financial Services Industry remained the Exchange’s liquidity backbone, underscoring continued investor preference for banking and financial stocks as the primary vehicles for deploying capital.

The week’s trading pattern highlights a market where financial institutions continue to dominate activity, even as investor interest broadens into other sectors.

With more than four out of every five shares traded originating from the Financial Services Industry, the sector remained central to the Nigerian Exchange’s strong performance during the week.