Trading activities on the Nigerian Exchange Limited (NGX) increased significantly in the week ended October 30, with investors exchanging shares worth N637.83 billion, representing a 475.7 per cent increase from the previous week.
Gatekeepers News reports that according to the NGX weekly market report, investors traded 7.62 billion shares in 192,138 deals during the five trading sessions, compared with 2.02 billion shares valued at N110.77 billion in 173,113 deals recorded in the preceding week.
The volume of shares traded rose by 276.4 per cent, while the value of transactions increased by 475.7 per cent.
The All-Share Index (ASI) and market capitalisation also appreciated by 2.86 per cent to close at 254,299.49 points and N165.11 trillion, respectively.
The financial services sector dominated trading activities, accounting for 6.99 billion shares valued at N573.49 billion in 85,998 deals. This represented 91.75 per cent of the total trading volume and 89.91 per cent of the transaction value.
The consumer goods sector followed with 164.65 million shares worth N7.2 billion exchanged in 20,297 deals, while the services sector recorded 93.28 million shares valued at N1.57 billion in 9,932 deals.
First Holdco Plc, Guaranty Trust Holding Company Plc (GTCO) and United Bank for Africa Plc (UBA) emerged as the most traded equities by volume.
The three companies recorded a combined turnover of 6.096 billion shares valued at N544.44 billion in 27,001 deals, representing 80.02 per cent of the total trading volume and 85.36 per cent of the value traded.
On the gainers’ chart, Dangote Cement Plc led with a 27.81 per cent increase in its share price to N1,420 from N1,111.
Honeywell Flour Mill Plc followed with a 25.98 per cent gain to N22.55, while UPDC Real Estate Investment Trust rose by 20.57 per cent to N21.10.
Sovereign Trust Insurance Plc and Eterna Plc also gained 20.51 per cent and 9.9 per cent, respectively.
However, Caverton Offshore Support Group Plc recorded the biggest loss, declining by 25 per cent to N3.60.
Livestock Feeds Plc followed with a 21.99 per cent drop to N13.30, while Austin Laz and Company Plc fell by 17.54 per cent to N2.35.
First Holdco Plc and Guinea Insurance Plc also declined by 17.31 per cent and 17.2 per cent, respectively.
