NGX turnover jumps 54% as investors add N2.5trn in one week

TRADING activity on the Nigerian Exchange (NGX) gathered significant momentum last week as investors exchanged shares worth N306.14 billion, representing a 54.17 percent increase from the previous week’s turnover of N182.50 billion.

The NGX weekly market report showed that investors traded 4.43 billion shares in 255,589 deals during the week, compared with 2.82 billion shares exchanged in 226,729 deals a week earlier, reflecting stronger participation across the market.

The surge in trading coincided with a bullish performance on the equities market, with investors gaining N2.53 trillion in market value as buying interest in banking and consumer goods stocks lifted prices. Analysis showed that the market capitalisation climbed from N157.06 trillion to N159.58 trillion within the five-day trading period.

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The benchmark All-Share Index also maintained its upward trajectory, advancing by 3,899.69 points, or 1.6 percent, to close at 247,357.40 points from 243,457.71 recorded in the preceding week.

Financial stocks dominate activity

Financial services remained the engine of market activity, accounting for the largest share of transactions during the week. The sector recorded trades of 3.42 billion shares valued at N207.21 billion across 117,545 deals, representing 77.18 percent of total trading volume and 67.68 percent of the value of transactions.

Consumer goods stocks ranked second after investors traded 201.98 million shares worth N17.17 billion in 28,666 deals, while the information and communication technology sector followed with 169.48 million shares valued at N21.19 billion exchanged in 23,107 deals.

Banking stocks continued to attract the strongest investor interest, with First HoldCo Plc, Access Holdings Plc and Guaranty Trust Holding Company Plc emerging as the week’s most actively traded equities by volume.

Collectively, the 3 companies accounted for 2.15 billion shares worth N170.79 billion in 44,768 deals, contributing 48.51 percent of the total shares traded on the exchange and 55.79 percent of the total transaction value.

UPDC REIT tops gainers

UPDC Real Estate Investment Trust led the gainers’ chart after its share price appreciated by 33.33 percent to N14.20 from N10.65, representing a gain of N3.55.

First HoldCo followed with a 25.59 percent increase, adding N24.55 to close at N120.50 from N95.95 after extending its rally to a new all-time high during the week.

Unilever Nigeria advanced by N23.95, or 19.31 percent, to close at N147.95, while Cadbury Nigeria gained 18.42 percent to settle at N67.50 from N57. AXA Mansard Insurance also posted strong gains, rising 17.86 percent to N13.20 from N11.20.

READ ALSO: Financial stocks dominate as NGX records N213bn weekly turnover

Mecure Industries leads decliners

On the losing side, Mecure Industries recorded the steepest decline after its share price dropped by N23.05, or 26.97 percent, to close at N62.40 from N85.45.

Royal Exchange fell 12.84 percent to N1.29, while Tripple Gee and Company declined 12.34 percent to N3.41. Sunu Assurances Nigeria shed 10 percent to close at N3.60, with BUA Foods also losing 10 percent to end the week at N845.10 from N939.00.