Trading activity on the Nigerian Exchange (NGX) weakened last week, with the total value of shares traded falling by 10.4 percent to N157.76 billion.
Gatekeepers News reports that according to the NGX weekly report cited by TheCable, investors traded 6.24 billion shares in 186,496 deals during the week ended August 21, compared with 12.15 billion shares worth N176.06 billion exchanged in 224,146 deals in the previous week.
The decline in turnover was accompanied by a drop in the overall market performance. The NGX All-Share Index (ASI) fell by 1.35 percent to close at 239,351.16 points, while market capitalisation declined by 1.33 percent to N154.53 trillion.
The financial services sector dominated trading during the week, recording 5.59 billion shares valued at N56.43 billion in 82,300 deals. The sector accounted for 89.62 percent of total equity turnover volume and 35.77 percent of the value traded.
The ICT sector followed with 143.70 million shares worth N29.79 billion, while the services sector recorded 138.67 million shares valued at N1.75 billion.
Fortis Global Insurance Plc, Lasaco Assurance Plc and Consolidated Hallmark Holdings Plc were the three most traded equities by volume. Together, they accounted for 4.17 billion shares worth N9.25 billion in 1,660 deals, representing 66.77 percent of total equity turnover volume.
On the gainers’ chart, Haldane McCall Plc led with a 32.30 percent increase in share price, followed by Trans-Nationwide Express Plc, which gained 16.20 percent. Dangote Sugar Refinery Plc, Cadbury Nigeria Plc and UACN Plc also recorded gains.
On the other hand, International Energy Insurance Plc recorded the biggest decline, falling 27.26 percent, while Fortis Global Insurance Plc, Royal Exchange Plc, Red Star Express Plc and UPDC Plc also posted losses.
