Investors traded 2.02 billion shares in 173,113 deals during the week ended October 23, with financial services stocks accounting for the largest share of transactions…..
Trading on the Nigerian Exchange Limited (NGX) increased in value and volume during the week ended October 23, as investors exchanged 2.02 billion shares worth N110.77 billion in 173,113 deals.
The figures represent an increase from the previous week, when 1.66 billion shares valued at N98.09 billion were traded in 184,632 deals.
According to the NGX weekly market report, trading volume rose by 22 per cent, while transaction value increased by 12.9 per cent over the period.
However, the higher level of trading activity did not translate into an overall market gain, as the All-Share Index (ASI) and market capitalisation declined to 247,222.27 points and N160.52 trillion, respectively.
The financial services industry accounted for the largest share of transactions by volume, with 1.11 billion shares worth N53.91 billion exchanged in 81,787 deals.
The sector contributed 54.89 per cent of total equity turnover by volume and 48.66 per cent by value, maintaining its lead in trading activity on the exchange.
The consumer goods industry ranked second, recording transactions involving 394.04 million shares valued at N9.81 billion in 17,912 deals.
The agriculture industry placed third, with 147.17 million shares worth N2.82 billion traded in 7,462 deals.
Combined, the three sectors accounted for a significant portion of activity during the week, with financial services stocks remaining the dominant contributors to overall turnover.
Multitrex Integrated Foods Plc, Zenith Bank Plc and Livestock Feeds Plc emerged as the three most actively traded equities by volume during the period.
The companies recorded a combined turnover of 521.57 million shares valued at N19.09 billion in 16,487 deals, according to the NGX report.
Their transactions represented 25.76 per cent of total equity turnover volume and 17.24 per cent of the value traded during the week.
The figures highlight the concentration of market activity in a relatively small number of listed companies, even as overall trading volume and value increased.
ABC Transport Plc topped the gainers’ table, appreciating by 20.66 per cent as its share price climbed to N7.30 from N6.05.
Ava Capital Plc followed with a 17.74 per cent increase, closing at N7.30 compared with N6.20 recorded previously.
Caverton Offshore Support Group Plc gained 17.07 per cent, rising to N4.80 from N4.10.
Fidelity Bank Plc advanced by 14.01 per cent to close at N24, up from N21.05, while Multitrex Integrated Foods Plc completed the top five gainers after appreciating by 10 per cent to N0.66 from N0.60.
On the losers’ chart, UPDC Real Estate Investment Trust recorded the steepest decline, shedding 17.26 per cent as its share price fell to N17.50 from N21.15.
Omatek Ventures Plc followed, losing 12.5 per cent to close at N1.40 from N1.60.
University Press Plc declined by 12.12 per cent, with its share price dropping to N4.35 from N4.95.
Regency Alliance Insurance Plc fell by 11.25 per cent to N0.71 from N0.80, while Nigerian Exchange Group Plc rounded off the top five losers, declining by 10.29 per cent to N152.50 from N170.
The week’s performance reflected a mixed market, with increased turnover across the exchange occurring alongside a decline in the benchmark index and total market capitalisation.
