Trading activity on the Nigerian Exchange (NGX) weakened during the week ended October 2, with the value of shares traded falling by 35.6 percent to N155.02 billion.
Investors traded 3.17 billion shares during the week, compared with N240.82 billion worth of transactions recorded in the previous week.
Trading volume also declined significantly, dropping 32.5 percent from 4.69 billion shares traded in 261,198 deals to 3.17 billion shares exchanged in 206,662 deals.
The market operated for four trading days during the week because the Federal Government declared October 1 a public holiday to commemorate Nigeria’s Independence Day.
The decline in trading activity was also reflected in the broader market performance.
The NGX All-Share Index fell by 0.52 percent to close the week at 250,808.27 points, while total market capitalisation declined by 0.50 percent to N162.84 trillion.
Financial Services Sector Leads Trading
The financial services sector remained the most active segment of the market during the week.
Investors traded 1.94 billion shares worth N77.73 billion in 92,035 deals within the sector.
The sector accounted for 61.41 percent of the total equity trading volume and 50.14 percent of the overall value of transactions recorded during the week.
The investment sector followed with 409.48 million shares valued at N5.4 billion traded across 1,444 deals.
The ICT sector ranked third, recording transactions involving 231.71 million shares worth N9.61 billion in 24,133 deals.
According to the market report, “the financial services industry led the activity chart by volume,” maintaining its position as the dominant sector in the week’s trading activity.
Fidelity Bank, VFD Group, Access Holdings Lead
Fidelity Bank Plc, VFD Group Plc and Access Holdings Plc emerged as the three most actively traded stocks by volume during the week.
Combined, the three companies recorded 1.34 billion shares valued at N27.58 billion across 15,771 deals.
Their combined activity represented 42.42 percent of the total equity turnover volume and 17.79 percent of the total value traded on the exchange.
ABC Transport Leads Gainers
ABC Transport Plc recorded the strongest price increase among the listed equities during the week.
Its share price climbed 45.1 percent, rising from N5.10 to N7.40.
Critical Minerals Financing Corp Plc followed with a 37.73 percent gain, moving from N3.26 to N4.49 per share.
LivingTrust Mortgage Bank Plc also recorded a significant increase of 32.69 percent, with its share price rising from N2.60 to N3.45.
VFD Group Plc gained 18.42 percent, moving from N11.40 to N13.50.
CWG Plc completed the top five gainers after rising 15.28 percent from N18.00 to N20.75 per share.
Sovereign Trust Insurance Leads Losers
On the losing side, Sovereign Trust Insurance Plc recorded the biggest decline of the week.
Its share price dropped 12.5 percent from N2.40 to N2.10.
E-Tranzact International Plc followed with a 12 percent decline, falling from N12.50 to N11 per share.
Learn Africa Plc dropped 11.05 percent, moving from N8.60 to N7.65.
PZ Cussons Nigeria Plc also recorded a 10.03 percent decline, falling from N73.80 to N66.40.
Fortis Global Insurance Plc rounded off the top five losers, declining 9.5 percent from N2.00 to N1.81 per share.
Overall, the week ended with lower trading volume and value, alongside modest declines in the NGX All-Share Index and market capitalisation.
Source: NGX.
