Financial stocks dominate as NGX records N213bn weekly turnover

THE financial services sector maintained its lead in trading activity on the Nigerian Exchange Limited (NGX) last week as investors exchanged shares worth N213.95 billion within five trading sessions.

According to the NGX weekly report, a total of 3.8 billion shares changed hands in 297,202 deals during the week. This reflects a 6.05 percent increase compared to the 3.58 billion shares valued at N195.31 billion traded in 254,553 deals in the preceding week.

Market performance also remained positive, with the all-share index (ASI) and market capitalisation rising by 3.94 percent to settle at 225,722.49 points and N145.335 trillion, respectively.

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Financial services lead activity chart

The exchange disclosed that the financial services sector topped the activity chart by volume, recording 2.73 billion shares worth N106.26 billion in 135,101 deals.

This performance represented 71.99 percent of the total trading volume and 49.67 percent of the overall value of equities traded during the week.

Trailing behind, the services sector posted a turnover of 212.32 million shares valued at N4.02 billion across 17,042 deals, while the consumer goods sector ranked third with 180.07 million shares worth N13.27 billion in 32,457 deals.

Top traded equities

Access Holdings Plc, United Bank for Africa Plc, and FirstHoldCo Plc emerged as the most actively traded stocks for the week.

Together, the trio accounted for 814.06 million shares valued at N39.03 billion in 37,195 deals, contributing 21.4 percent and 18.24 percent to total market volume and value, respectively.

Gainers and losers

On the gainers’ chart, UACN Plc led after its share price climbed from N100 to N142, marking a 42 percent increase.

Union Dicon Salt Plc followed with a rise from N16.5 to N21.9, gaining 32.73 percent, while Nascon Allied Industries Plc advanced from N156 to N206.9, up by 32.63 percent.

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Other notable gainers included Trans-Nationwide Express Plc, which appreciated by 30.58 percent from N6.05 to N7.9, and Zichis Agro Allied Industries Plc, which rose by 25.7 percent from N12.41 to N15.6.

Conversely, Infinity Trust Mortgage Bank Plc recorded the steepest decline, dropping from N19 to N9.35, representing a loss of 50.79 percent.