Trading activity on the Nigerian Exchange (NGX) picked up in volume last week as investors exchanged 5.35 billion shares valued at N139.05 billion across 261,869 deals, highlighting renewed activity across key sectors of the equities market. According to the NGX weekly market report, share volume rose 4.7 percent from the 5.11 billion shares traded in 285,223 deals in the previous week.
Despite the increase in trading volume, the total value of transactions dropped sharply by 65.6 percent, falling from N404.76 billion recorded a week earlier. The market itself, however, closed slightly higher, with the NGX All-Share Index gaining 0.12 percent to 245,573.6 points, while total market capitalisation also rose 0.12 percent to N158.513 trillion.
The financial services sector was the clear driver of market activity, accounting for 3.46 billion shares worth N73.01 billion in 117,509 deals. The sector contributed 64.73 percent of total equity turnover volume and 52.51 percent of the value traded. Oil and gas stocks followed with 1.02 billion shares valued at N18.9 billion, while the ICT sector ranked third after recording 232.36 million shares worth N14.62 billion.
At the individual stock level, Japaul Gold & Ventures, Fortis Global Insurance and FCMB Group emerged as the three most actively traded equities by volume. Together, the companies recorded 2.56 billion shares worth N14.17 billion in 6,645 deals, representing 47.8 percent of total equity turnover volume. On the gainers’ side, Ava Capital led the market after its share price jumped 33.33 percent to N11, followed by FCMB Group, which gained 13.1 percent to N12.95, and First HoldCo, which rose 12.23 percent to N145.40.
The week was not positive for every investor, however, as several stocks suffered steep declines. Thomas Wyatt Nigeria recorded the biggest loss, dropping 26.71 percent to N3.21, while Trans-Nationwide Express fell 23.76 percent to N2.15. Critical Minerals Financing Corp declined 22.68 percent to N3, Ecobank Transnational Incorporated dropped 18.94 percent to N72.10, and Consolidated Hallmark Holdings lost 16.51 percent to close at N6.98. The mixed performance shows that while trading activity strengthened, investors remained selective, with money flowing heavily into financial, oil and gas, and other actively traded equities.
source: The cable
