Trading activity on Nigerian Exchange (NGX) gained significant momentum in the week ended July 31, with investors exchanging shares worth N404.76 billion, representing a 32.2 per cent increase from the N306.14 billion recorded the previous week.
Gatekeepers News reports that analysis of NGX’s weekly market report showed that investors traded 5.12 billion shares in 285,223 deals, up from 4.43 billion shares exchanged in 255,589 transactions a week earlier. The figures indicate stronger participation by investors and increased liquidity in the equities market.
Financial services stocks dominated market activity, accounting for 3.55 billion shares valued at N77.42 billion in 127,587 deals, representing 69.42 per cent of the total trading volume and 27.03 per cent of all transactions during the week. The services industry followed with 443.59 million shares worth N6.77 billion, while the consumer goods sector recorded 266.86 million shares valued at N15.62 billion.
The most actively traded equities during the period were Access Holdings Plc, United Bank for Africa (UBA) Plc and Fidelity Bank Plc, which jointly accounted for 1.86 billion shares worth N52.93 billion in 38,574 deals. Together, the three stocks contributed 36.41 per cent of the total volume traded and 18.47 per cent of the market’s total transactions.
Despite the increase in trading activity, the NGX All-Share Index and overall market capitalisation declined by 0.79 per cent, with the market value of listed equities falling from N92.01 trillion to N91.28 trillion during the week.
