Trading activity on Nigerian Exchange Limited (NGX) declined during the week, with investors exchanging shares worth N123.22 billion in 173,561 deals.
Gatekeepers News reports that according to NGX weekly market report cited by TheCable, a total of 2.5 billion shares changed hands during the four trading sessions, compared with 6.24 billion shares valued at N157.76 billion in 186,496 deals recorded in the previous week.
The market operated for four trading days during the week following the federal government’s declaration of August 25 as a public holiday to mark Eid-el-Maulud.
Despite the drop in trading activity, the NGX All-Share Index rose by 0.81 percent to close at 241,298.47 points, compared with 239,358 points recorded at the end of the previous week.
Market capitalisation also increased by 0.84 percent, rising from N154.52 trillion to N155.82 trillion.
Fortis Global Insurance, Jaiz Bank and First HoldCo were the most traded equities during the week, jointly accounting for 793.1 million shares worth N26.89 billion in 14,758 deals.
The financial services sector remained the most active by volume, recording 1.97 billion shares valued at N71.56 billion in 79,586 deals. The sector accounted for 78.87 percent of total equity turnover volume and 58.08 percent of turnover value.
The services sector followed with 148.22 million shares worth N7.25 billion, while the ICT sector recorded 117.98 million shares valued at N8.63 billion.
University Press emerged as the biggest gainer of the week after its share price rose by 18.75 percent, from N4.80 to N5.70. First HoldCo and Seplat Energy followed with gains of 11.58 percent and 10 percent respectively.
International Energy Insurance recorded the biggest decline, falling 26.61 percent from N3.87 to N2.84, while Fidson Healthcare and Caverton Offshore Support Group declined by 17.69 percent and 15.15 percent respectively.
