Investors on the floor of the Nigerian Exchange Group (NGX) engaged in robust trading activity last week, with a total turnover of 1.597 billion shares valued at N32.313 billion in 44,915 deals. This marks a significant increase from the previous week’s trading volume of 1.132 billion shares worth N28.650 billion in 21,921 deals.
The Financial Services Industry led the activity chart by volume, with 1.148 billion shares valued at N22.422 billion traded in 26,192 deals. This sector contributed 71.87% and 69.39% to the total equity turnover volume and value, respectively.
Following closely was the Conglomerates Industry, which recorded 117.629 million shares worth N1.579 billion in 2,501 deals. The Oil and Gas Industry secured the third position, with a turnover of 92.498 million shares valued at N810.985 million in 2,621 deals.
The top three equities traded by volume were Access Holdings Plc, United Bank for Africa Plc, and Zenith Bank Plc, which collectively accounted for 570.027 billion shares worth N14.078 billion in 12,079 deals. These stocks contributed 35.69% and 43.57% to the total equity turnover volume and value, respectively.
Despite the active trading, the NGX All-Share Index and Market Capitalization experienced a depreciation of 2.71%, closing the week at 99,539.75 and N56.296 trillion, respectively. All other indices finished lower, except for the NGX Sovereign Bond index, which appreciated by 3.57%. The NGX ASeM and NGX Oil and Gas indices closed flat.
Market analysts say economic indicators and market sentiment will likely influence future trading patterns on the NGX as the week’s trading activity reflects investors’ continued participation in the market, despite the overall decline in market indices.
