Trading activity on Nigerian Exchange Limited (NGX) recorded an increase in value during the first full trading week of October, with total equity turnover rising to N158.29 billion from N155.02 billion in the preceding week.
The market also closed last Friday’s session on a positive note, recovering some ground after four consecutive sessions of losses, as investors began positioning ahead of the third-quarter earnings season.
The number of deals increased by 1.61 percent to 209,986 from 206,662, while trading volume stood at 2.715 billion shares, compared with 3.166 billion shares in the previous week. The increase in turnover value, despite lower trading volume, reflected a shift in the composition of transactions during the period.
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The NGX All-Share Index (ASI) declined by 0.97 percent week-on-week to close at 248,363.55 points, while equities market capitalisation settled at N161.26 trillion. Despite the moderation, the benchmark index maintained a year-to-date return of 59.60 percent, reflecting the gains recorded since the beginning of 2026.
The Financial Services Industry led the activity chart with 2.005 billion shares valued at N82.924 billion across 94,483 deals, accounting for 73.84 percent of total equity turnover volume and 52.39 percent of turnover value.
The Consumer Goods Industry followed with 152.345 million shares worth N11.425 billion in 20,926 deals, while the Information and Communications Technology (ICT) Industry recorded 117.296 million shares valued at N15.256 billion across 22,556 deals.
Access Holdings Plc, Zenith Bank Plc and United Bank for Africa Plc emerged as the three most actively traded equities by volume, collectively accounting for 1.020 billion shares valued at N50.520 billion in 29,382 deals. The three stocks contributed 37.56 percent of total equity turnover volume and 31.92 percent of turnover value.
Activity in the Exchange-Traded Products (ETPs) segment also strengthened, with transaction value increasing by 81.16 percent to N687.314 million from N379.449 million in the previous week. Units traded rose to 1.831 million from 1.684 million, while the number of deals increased to 5,413 from 4,327.
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The bond market recorded a similar improvement, with 144,034 units valued at N146.416 million traded during the week, compared with 81,063 units worth N85.606 million previously. This represented a 71.03 percent increase in transaction value, while the number of deals remained unchanged at 48.
Market breadth reflected the week’s price adjustments, with 24 equities appreciating, compared with 44 in the previous week. Fifty-four equities declined, up from 37, while 68 remained unchanged.
Among the gainers, Livestock Feeds Plc led with a 47.75 percent increase, followed by Tripple Gee and Company Plc at 32.62 percent and Guinea Insurance Plc at 29.17 percent. Learn Africa Plc and Multi-Trex Integrated Foods Plc also advanced by 19.61 percent and 16.67 percent, respectively.
Sectoral performance was largely negative, although the NGX Industrial Goods Index recorded a marginal gain of 0.02 percent. On a year-to-date basis, several indices remained firmly in positive territory, including the NGX Oil and Gas Index at 124.92 percent, the NGX Premium Index at 102.66 percent and the NGX Industrial Goods Index at 83.96 percent.
Commenting on the market’s performance, Mobifoluwa Adesina, Research Analyst at CSL Stockbrokers Limited, attributed the week’s decline partly to profit-taking following September’s gains, while anticipating renewed buying interest as investors position ahead of corporate earnings announcements.
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“The market witnessed some profit-taking during the week as investors locked in gains from September. However, we expect buying interest to continue as investors begin positioning ahead of third-quarter earnings releases across the broader market and half-year financial results from banks yet to report,” Abu said.
The week also saw new securities admitted to the Exchange, including Federal Government of Nigeria Savings Bonds issued in September 2026 and the supplementary listing of 6.307 billion ordinary shares of Guinea Insurance Plc.
The market’s positive close last Friday, alongside increased equity turnover value and stronger activity in ETPs and bonds, provided encouraging developments following a week of price corrections. With the benchmark index retaining substantial year-to-date gains, attention is expected to turn to corporate earnings releases and their potential influence on investor positioning in the coming weeks.
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Iheanyi Nwachukwu, is a creative content writer with over two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Deputy Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
