Trading activity on the Nigerian Exchange Limited (NGX) weakened last week, with the value of transactions falling by 35.6 percent to N155.02 billion.
Gatekeepers News reports that according to the NGX weekly market report, investors traded 3.17 billion shares in 206,662 deals during the week ended October 2, compared with 4.69 billion shares worth N240.82 billion exchanged in 261,198 deals in the previous week.
The decline came during a shortened trading week, as the Federal Government declared October 1 a public holiday to commemorate Nigeria’s Independence Day.
Trading volume also fell by 32.5 percent, while the number of deals declined from 261,198 to 206,662.
The NGX All-Share Index (ASI) dropped by 0.52 percent to close at 250,808.27 points, while the market capitalisation declined by 0.50 percent to N162.84 trillion.
The financial services sector remained the most active segment of the market, accounting for 1.94 billion shares valued at N77.73 billion in 92,035 deals.
The sector contributed 61.41 percent of total equity turnover volume and 50.14 percent of the total value traded.
The investment industry followed with 409.48 million shares worth N5.4 billion traded in 1,444 deals, while the ICT industry recorded 231.71 million shares valued at N9.61 billion in 24,133 deals.
Fidelity Bank Plc, VFD Group Plc and Access Holdings Plc were the three most-traded equities by volume during the week.
The companies jointly recorded 1.34 billion shares worth N27.58 billion in 15,771 deals.
Their combined activity represented 42.42 percent of the total equity turnover volume and 17.79 percent of the total value traded.
ABC Transport Plc recorded the biggest gain during the week, with its share price rising by 45.1 percent from N5.10 to N7.40.
Critical Minerals Financing Corp Plc followed with a 37.73 percent increase, moving from N3.26 to N4.49, while LivingTrust Mortgage Bank Plc gained 32.69 percent to close at N3.45 from N2.60.
VFD Group Plc rose by 18.42 percent from N11.40 to N13.50, while CWG Plc appreciated by 15.28 percent from N18 to N20.75.
Sovereign Trust Insurance Plc recorded the biggest decline, falling 12.5 percent from N2.40 to N2.10 per share.
E-Tranzact International Plc dropped 12 percent from N12.50 to N11, while Learn Africa Plc declined by 11.05 percent from N8.60 to N7.65.
PZ Cussons Nigeria Plc also fell by 10.03 percent from N73.80 to N66.40, while Fortis Global Insurance Plc declined by 9.5 percent to N1.81.
