Market value and the All-Share Index also slipped as trading volume dropped sharply, while Haldane McCall led the gainers and International Energy Insurance suffered the biggest loss…..
Trading activity on the Nigerian Exchange (NGX) weakened in the week ended August 21, with the value of equities traded falling by 10.4% to N157.76 billion.
According to the NGX weekly market report, investors exchanged 6.24 billion shares in 186,496 deals, compared with 12.15 billion shares worth N176.06 billion traded in 224,146 deals in the preceding week.
The decline in turnover came alongside a broader pullback in the market, with the NGX All-Share Index (ASI) falling 1.35% during the week.
The index closed at 239,351.16 points, while total market capitalisation declined by 1.33% to N154.53 trillion.
Financial stocks dominate trading
The financial services sector remained the busiest segment of the market, accounting for the overwhelming majority of shares traded during the week.
Investors exchanged 5.59 billion financial-sector shares worth N56.43 billion across 82,300 deals.
The sector accounted for 89.62% of total equity turnover by volume and 35.77% by value.
The ICT sector ranked second, recording 143.70 million shares worth N29.79 billion in 23,740 deals.
The services sector followed with 138.67 million shares valued at N1.75 billion across 11,438 transactions.
The figures show that despite the overall decline in market activity, financial stocks continued to attract the bulk of trading interest on the exchange.
Three stocks account for two-thirds of volume
Trading was particularly concentrated in three equities.
Fortis Global Insurance Plc, Lasaco Assurance Plc and Consolidated Hallmark Holdings Plc emerged as the three most actively traded stocks by volume.
Together, the companies recorded turnover of 4.17 billion shares worth N9.25 billion in 1,660 deals.
Their combined volume represented 66.77% of total equity turnover, although they accounted for just 5.86% of the total value traded.
Haldane McCall leads weekly gainers
While the broader market ended the week lower, several stocks recorded significant price gains.
Haldane McCall Plc topped the gainers’ list after its share price jumped 32.30%, rising from N2.91 to N3.85.
Trans-Nationwide Express Plc followed with a 16.20% increase, moving from N2.84 to N3.30.
Dangote Sugar Refinery Plc gained 5.19%, closing at N67.90 from N64.55.
Cadbury Nigeria Plc rose 4.68% to N64.90, compared with its previous closing price of N62.
Completing the top five gainers was UACN Plc, which appreciated by 4.62% from N170 to N177.85.
International Energy Insurance suffers biggest decline
On the losing side, International Energy Insurance Plc recorded the steepest decline of the week.
Its share price fell 27.26%, dropping from N5.32 to N3.87.
Fortis Global Insurance Plc posted the second-largest decline, losing 23.95% to close at N2 from N2.63.
Royal Exchange Plc fell 18.49%, moving from N1.19 to N0.97.
Red Star Express Plc declined by 18.33%, closing at N14.70 compared with N18 previously.
UPDC Plc completed the top five losers after falling 10.67% from N3.75 to N3.35.
Market sentiment turns cautious
The weekly figures point to a more cautious trading environment, with both turnover and the major market indicators moving lower.
The sharp reduction in the number of shares traded—from 12.15 billion to 6.24 billion—also indicates a significant slowdown in market activity compared with the previous week.
With the All-Share Index and market capitalisation both declining, investors will be watching the coming sessions for signs of whether the latest pullback represents a temporary pause or the beginning of a more sustained shift in market sentiment.
