Trading activity on the Nigerian Exchange (NGX) gained significant momentum in the week ended July 3, with investors exchanging shares worth N154.39 billion, representing a 14.8 percent increase compared to the previous week. According to the NGX weekly market report, a total of 3.82 billion shares were traded in 258,567 deals, highlighting growing investor participation and stronger market liquidity despite ongoing market volatility.
The latest figures show a sharp rise from the N134.49 billion recorded in the preceding week, when investors traded 2.32 billion shares across 249,328 deals. While the increased turnover reflects renewed interest in equities, the broader market sentiment remained cautious. The NGX All-Share Index (ASI) declined by 1.21 percent, shedding 2,808.68 basis points to close at 229,240.34 points, down from 232,049.02 points recorded a week earlier.
Market capitalization also suffered a setback as investors lost value amid the bearish trend. The total value of listed equities dropped from N151.33 trillion to N147.10 trillion at the end of the trading week. Analysts say the decline suggests that although investors were actively buying and selling stocks, profit-taking and sell-offs in key counters continued to weigh on overall market performance.
Sectoral analysis revealed that the financial services industry remained the dominant force on the exchange, accounting for nearly 61 percent of total trading volume. The sector recorded 2.33 billion shares worth N54.61 billion in 108,978 deals. It was followed by the services sector, which posted 509.47 million shares valued at N16.35 billion, while the consumer goods sector recorded transactions worth N8.06 billion. Sterling Financial Holdings, Access Holdings, and Ikeja Hotel emerged as the most actively traded stocks, jointly accounting for more than one-third of the total volume traded during the week.
On the gainers’ chart, Airtel Africa delivered the strongest performance after its share price jumped 21 percent to close at N5,274, followed by Regency Assurance and UPDC. Other notable gainers included DAAR Communications and SUNU Assurances Nigeria. On the flip side, International Energy Insurance led the losers after shedding 18.83 percent of its value. MCNichols, University Press, R T Briscoe, and UPDC Real Estate Investment Trust also recorded significant declines, underscoring the mixed fortunes experienced by investors as the market balanced increased trading activity with downward price movements.
source; The cable
