A total of 8.736 billion equities worth N134.577 billion exchanged hands in 180,290 deals last week on the Nigerian Exchange (NGX) Limited, higher than the 4.847 billion equities valued at N149.755 billion traded in 174,267 deals in the preceding week.
This significant rise in the activity level was driven by demand for insurance stocks following the signing of the Nigerian Insurance Industry Reform Act (NIIRA) 2025 by President Bola Tinubu.
Linkage Assurance, Consolidated Hallmark, and Universal Insurance were the most active in the five-day trading week, accounted for 3.195 billion shares worth N6.594 billion in 3,964 deals, contributing 36.57 per cent and 4.90 per cent to the total trading volume and value, respectively.
Data showed that the financial services counter led the activity chart with 7.483 billion equities valued at N70.980 billion in 77,227 deals, contributing 85.65 per cent and 52.74 per cent to the total trading volume and value, respectively.
The agriculture industry traded 201.906 million shares worth N7.863 billion in 11,450 deals, and the services sector sold 191.921 million stocks for N2.484 billion in 10,595 deals.
Mutual Benefits topped the gainers’ log after it chalked up 60.44 per cent to close at N2.92, AIICO Insurance gained 59.82 per cent to sell for N3.50, Royal Exchange appreciated by 59.33 per cent to N2.39, Sovereign Trust Insurance jumped by 59.06 per cent to N2.72, and Cornerstone Insurance grew by 54.46 per cent to N6.41.
On the flip side, LivingTrust Mortgage Bank lost 24.13 per cent to settle at N5.00, Academy Press declined by 18.18 per cent to N9.00, The Initiates eased by 12.73 per cent to N12.00, UPDC REIT slowed by 11.76 per cent to N8.25, and Legend Internet moderated by 11.72 per cent to N5.65.
When compared with the previous week, 66 equities appreciated versus 54 equities a week earlier, 41 shares depreciated versus 49 shares in the previous week, and 39 stocks closed flat versus 43 stocks in the preceding week.
Business Post reports that the All-Share Index (ASI) and market capitalisation appreciated by 3.18 per cent to 145,754.91 points and N92.215 trillion, respectively.
Also, all other indices finished higher apart from the corporate governance, banking, pension, AFR Bank value, AFR Dividend Yield, MERI Value, growth, and commodity indices, which depreciated by 0.64 per cent, 0.75 per cent, 0.14 per cent, 1.01 per cent, 0.66 per cent, 1.25 per cent, 7.91 per cent, and 2.33 per cent, respectively.