Trading activity on Nigerian Exchange (NGX) increased in volume last week, with investors exchanging 5.35 billion shares valued at N139.05 billion in 261,869 deals.
Gatekeepers News reports that according to NGX weekly market report, the volume of shares traded rose by 4.7 percent from 5.11 billion shares recorded in 285,223 deals the previous week. However, the value of transactions dropped significantly by 65.6 percent from N404.76 billion.
The NGX All-Share Index and market capitalisation also recorded marginal gains during the week. The index rose by 0.12 percent to close at 245,573.6 points, while market capitalisation increased to N158.513 trillion.
The financial services sector dominated trading activity by volume, accounting for 3.46 billion shares valued at N73.01 billion across 117,509 deals. The sector represented 64.73 percent of total equity turnover volume and 52.51 percent of the value traded.
The oil and gas sector followed, recording 1.02 billion shares worth N18.9 billion in 17,680 deals. The information and communication technology sector ranked third, with 232.36 million shares valued at N14.62 billion traded in 31,866 deals.
Japaul Gold & Ventures Plc, Fortis Global Insurance Plc and FCMB Group Plc emerged as the three most actively traded equities by volume. Collectively, the companies recorded 2.56 billion shares worth N14.17 billion in 6,645 deals, representing 47.8 percent of the total equity turnover volume.
Ava Capital Plc led the gainers, rising 33.33 percent from N8.25 to N11 per share. FCMB Group gained 13.1 percent to close at N12.95, while First HoldCo Plc rose 12.23 percent to N145.40.
On the losers’ chart, Thomas Wyatt Nigeria Plc recorded the biggest decline, falling 26.71 percent from N4.38 to N3.21 per share. Trans-Nationwide Express Plc dropped 23.76 percent, while Critical Minerals Financing Corp Plc declined by 22.68 percent.
The week’s performance indicates that although trading volume increased, the sharp decline in transaction value reflected a significant reduction in the value of deals compared with the previous week.
