Investors on the Nigerian stock market traded a total of 3.32 billion shares worth N164.84 billion over five days, marking a 10 percent decline compared to the previous week, according to the latest report from the Nigerian Exchange Limited (NGX). The number of deals also fell to 318,907, down from 370,980 deals recorded the prior week, reflecting a slowdown in market activity.
Despite the dip in trading volume, the market’s overall value showed growth. NGX reported that market capitalization rose to N127.36 trillion, driven by a 0.73 percent increase in the All-Share Index (ASI), which moved from 196,968.15 points to 198,407.30 points. This indicates that while fewer shares changed hands, stock prices in key sectors strengthened over the week.
The financial services sector dominated trading activity, accounting for 2.17 billion shares valued at N59.8 billion in 124,992 deals. This sector alone contributed 65.61 percent of total turnover volume and 36.28 percent of total turnover value. The oil and gas sector followed with 207.69 million shares worth N27.6 billion, while the consumer goods sector recorded 189.63 million shares valued at N11.85 billion.
At the individual stock level, Access Holdings Plc, Fortis Global Insurance Plc, and First Holdco Plc led trading, collectively accounting for 677.31 million shares valued at N14.56 billion. On the gainers’ chart, Premier Paints Plc topped with a 32.88 percent increase, followed by Conoil Plc and BUA Cement Plc with 20.95 percent and 20 percent gains, respectively. Other notable gainers included Fidson Healthcare Plc and Omatek Ventures Plc.
However, the week was not without losses. SCOA Nigeria Plc recorded the largest decline, dropping 34.06 percent, while Fortis Global Insurance Plc and Sovereign Trust Insurance Plc fell by over 20 percent each. Aluminium Extrusion Industries Plc and LivingTrust Mortgage Bank Plc also suffered significant declines, shedding 18.71 percent and 17.38 percent, respectively, reflecting mixed investor sentiment across the market.
source: The cable