NGX WEEKLY TURNOVER PLUNGES 47% TO N134.49BN

Trading activity on the Nigerian Exchange (NGX) witnessed a sharp decline last week, with total turnover dropping by 47 per cent to N134.49 billion, according to market data.

The significant reduction in traded value was attributed to cautious investor sentiment amid macroeconomic uncertainties, profit-taking, and lower liquidity in key stocks. Despite the drop, some sectors, particularly banking and consumer goods, recorded moderate interest from bargain hunters.

Market analysts noted that the slowdown reflects broader challenges in the domestic equities market, including inflationary pressures and foreign exchange volatility. “Investors are adopting a wait-and-see approach as they assess the impact of recent policy measures,” one broker said.

The NGX All-Share Index also closed the week on a mixed note, with selective buying in a few blue-chip stocks offsetting losses in others. Total volume traded stood lower compared to the previous week.

Stakeholders expect improved activity in the coming weeks if positive corporate earnings and favourable economic indicators emerge. The exchange remains committed to enhancing market infrastructure and investor confidence.