Investors in the Nigerian stock market exchanged 4.773 billion shares valued at N107.426 billion in 152,965 deals this week on the floor of the Nigerian Exchange (NGX). The NGX weekly report, released in Lagos, showed a decline in trading volume compared to last week’s 8.564 billion shares worth N99.936 billion across 177,870 deals. Despite the lower turnover, the value of transactions rose by 7.50 per cent.
The Financial Services Industry dominated activity with 3.734 billion shares worth N60.627 billion traded in 72,977 deals, accounting for 78.24 per cent of total volume and 56.44 per cent of total value. It was followed by the Consumer Goods Industry with 370.404 million shares worth N14.025 billion in 17,997 deals, and the Services Industry with 176.285 million shares worth N1.279 billion in 8,790 deals.
The top three traded equities were Universal Insurance Plc, Zenith Bank Plc, and FCMB Group Plc, which jointly accounted for 1.201 billion shares worth N29.433 billion in 10,537 deals, representing 25.16 per cent of total volume and 27.40 per cent of total value.
However, the market closed the week on a bearish note, as the NGX All-Share Index (ASI) and Market Capitalisation declined by 2.51 per cent, settling at 141,004.14 points and N89.209 trillion, respectively. Most indices finished lower except for the NGX Consumer Goods Index (+0.83 per cent) and NGX Growth Index (+4.14 per cent), while the NGX ASeM and NGX Commodity Indices closed flat.
Market breadth also weakened, with 43 equities gaining against 50 in the previous week. Meanwhile, 54 equities declined, compared to 49 last week, while 49 equities remained unchanged, slightly higher than the 47 recorded in the prior week.
The week’s top five gainers were Austin Laz (+20.83 per cent), NCR Nigeria (+20.69 per cent), Nigerian Enamelware (+19.45 per cent), Guinea Insurance (+18.79 per cent), and Mutual Benefits Assurance (+14.29 per cent). Their respective price gains were 50k, N1.80, N6.35, 28k, and 55k.
On the losers’ chart, Thomas Wyatt Nigeria (-70k), NEM Insurance (-N5.90), Stanbic IBTC Holdings (-N17.10), Lasaco Assurance (-59k), and RT Briscoe (-55k) topped the decliners.
