Trading activity on the Nigerian Exchange Limited (NGX) weakened during the week, with investors exchanging 3.64 billion shares valued at N130.15 billion in 244,777 deals.
The latest performance represents a 16.4 percent decline in turnover compared with the previous week, when 4.36 billion shares worth N210.331 billion were traded in 223,284 deals.
The NGX All-Share Index (ASI), the benchmark used to measure the performance of equities on the exchange, also declined by 1.6 percent to close the week at 243,052.74 points.
Similarly, the market capitalisation fell by 1.24 percent to N157.58 trillion.
FINANCIAL SERVICES LEADS TRADING
The financial services industry dominated trading activity during the week, accounting for 79.76 percent of the total equity turnover by volume.
The sector recorded 2.9 billion shares valued at N56.66 billion across 106,662 deals.
In terms of value, financial services accounted for 43.54 percent of the total equity turnover recorded during the period.
The services industry ranked second, with 153.122 million shares worth N2.33 billion traded in 15,850 deals.
Consumer goods came third, recording 116.65 million shares valued at N11.03 billion in 26,487 deals.
FORTIS GLOBAL INSURANCE, MUTUAL BENEFITS LEAD MOST-TRADED EQUITIES
Fortis Global Insurance Plc, Mutual Benefits Assurance Plc and Sterling Financial Holdings Company Plc emerged as the three most actively traded equities during the week.
Together, the three companies recorded 1.54 billion shares valued at N4.06 billion across 3,017 deals.
Their combined volume accounted for 42.33 percent of the total equity turnover for the week, although their contribution by value was just 3.12 percent.
TOP GAINERS OF THE WEEK
Nigerian Exchange Group Plc topped the gainers’ chart after its share price appreciated by 13.85 percent during the week.
The stock rose from N130 at the beginning of the week to N148 at the close of trading.
Ellah Lakes Plc ranked second, gaining 13.33 percent as its share price increased from N9 to N10.20.
Seplat Energy Plc followed with a 10 percent gain, moving from N13,552.60 to N14,907.80.
E-Tranzact International Plc also recorded a 5.69 percent increase, rising from N12.30 to N13, while Ikeja Hotel Plc gained 4.58 percent, moving from N42.55 to N44.50.
TOP LOSERS
Fortis Global Insurance Plc recorded the biggest decline during the week, shedding 27.5 percent of its share value as the stock fell from N2 to N1.45.
Critical Minerals Financing Corp Plc was the second-largest loser, declining by 24.24 percent from N2.64 to N2.
Austin Laz & Company Plc followed with a 20.4 percent drop, falling from N2.50 to N1.99.
Omatek Ventures Plc declined by 19.41 percent, moving from N1.70 to N1.37, while Royal Exchange Plc lost 18.18 percent, dropping from N1.10 to 90 kobo.
Source: NGX
