Trading activity on the Nigerian Exchange (NGX) Limited increased sharply during the week, with investors trading 12.15 billion shares worth N176.06 billion in 224,146 deals.
According to the NGX weekly report, the latest turnover represents a 27 percent increase in value compared with the N139.05 billion recorded in the previous week. Trading volume also rose significantly from 5.36 billion shares to 12.15 billion shares.
Despite the increase in market activity, the equity market ended the week lower.
The NGX All-Share Index (ASI) declined by 1.20 percent, closing at 242,619.20 points, compared with 245,573.07 points recorded the previous week.
Market capitalisation also fell by 1.19 percent to N156.62 trillion, from N158.512 trillion.
Financial Services Leads Trading
The financial services sector dominated the week’s trading activity, accounting for 11.21 billion shares worth N88.99 billion across 102,246 deals.
The sector represented 92.25 percent of total equity turnover by volume and 50.55 percent by value.
The ICT sector followed with 246.13 million shares worth N51.61 billion traded in 27,169 deals.
The services sector ranked third, recording 198.20 million shares valued at N2 billion in 13,747 deals.
Most Traded Equities
Fortis Global Insurance Plc, Cornerstone Insurance Plc and Consolidated Hallmark Holdings Plc emerged as the three most actively traded equities.
Together, they accounted for 9.49 billion shares worth N36.22 billion in 1,781 deals, representing 78.07 percent of total equity turnover by volume.
Top Gainers
Trans-Nationwide Express Plc led the gainers after its share price climbed 32.09 percent, from N2.15 to N2.84.
International Energy Insurance followed with a 31.68 percent gain, rising from N4.04 to N5.32.
Sovereign Trust Insurance gained 13.77 percent, while Chams Holding Company rose 12.25 percent.
CWG Plc completed the top five gainers with a 9.74 percent increase, moving from N19.50 to N21.40.
Top Losers
Ava Capital recorded the biggest decline, with its share price falling 34.55 percent, from N11 to N7.20.
Unilever Nigeria dropped 18.94 percent, from N145.95 to N118.30.
Zichis Agro-Allied Industries declined 15.08 percent, while Thomas Wyatt Nigeria fell 14.33 percent to N2.75.
Dangote Sugar Refinery also declined by 11.58 percent, dropping from N73 to N64.55.
Source: Nigerian Exchange (NGX) weekly report.
