Traders boost NGX turnover to N207.5bn as financial stocks dominate market activity

INVESTORS on the Nigerian Exchange (NGX) traded equities valued at N207.52 billion during the 4 trading sessions ended June 11, reflecting stronger market participation despite a shortened trading week.

Trading activities were limited to 4 days after the Nigerian government declared June 12 a public holiday in commemoration of Democracy Day.

Analysis of NGX data showed that a total of 4.96 billion shares changed hands in 235,966 transactions over the review period. Compared with the previous week, when 3.97 billion shares worth N175.66 billion were traded in 343,587 deals, the value of transactions increased by 18.14 percent.

The market also recorded gains in overall valuation. NGX market capitalisation advanced by 0.88 percent to N156.97 trillion on Thursday from N155.59 trillion at the close of the preceding week.

READ ALSO: Investors trade N162bn shares on NGX as market turnover drops 50%

Similarly, the All-Share Index (ASI) rose by 2,145.43 basis points, climbing from 242,593.31 to 244,738.74 during the week.

Financial stocks lead sectoral performance

The financial services sector accounted for the largest share of trading activity, with investors exchanging 4.12 billion shares worth N84.61 billion across 96,165 deals.

The sector represented 82.92 percent of total trading volume and 40.77 percent of the total value traded on the exchange during the week.

Trailing behind was the services sector, which recorded 232.48 million shares valued at N4.96 billion in 17,614 transactions. The industrial goods sector ranked third with 144.99 million shares worth N39.08 billion traded in 24,775 deals.

Sterling, FCMB, Access emerge most traded stocks

Sterling Financial Holdings Company Plc, FCMB Group Plc and Access Holdings Plc emerged as the most actively traded equities by volume.

Collectively, the three companies accounted for 2.88 billion shares valued at N36.19 billion in 15,533 deals. Their combined transactions represented 58.09 percent of total market volume and 17.44 percent of total turnover value.

Associated Bus tops gainers’ chart

Associated Bus Company Plc led the gainers’ table after its share price appreciated by 25.6 percent, rising from N6.21 to N7.80 per share.

Consolidated Hallmark Holdings Plc followed with a gain of N1.55, closing at N8.25 from N6.70. Abbey Mortgage Bank Plc added N2.05 to settle at N11.40, up from N9.35.

Infinity Trust Mortgage Bank Plc also posted gains, advancing by N1.90 to close at N11.25 from N9.35, while Austin Laz & Company Plc rounded out the top five gainers after its share price increased by N0.57 to N4.33 from N3.76.

READ ALSO: NGX records N195bn weekly trade as market value climbs to N139trn

Fidson records steepest decline

On the losers’ chart, Fidson Healthcare Plc posted the largest decline as its share price dropped by N35.30 to close at N101.20 from N136.50.

Neimeth International Pharmaceuticals Plc shed N2.05, ending the week at N8.55 compared with N10.60 previously. UH Real Estate Investment Trust lost N14.70, closing at N70 from N84.70.

Sunu Assurances Nigeria Plc declined by N0.51 to N3.97 from N4.48, while Unilever Nigeria Plc fell by N16, closing at N140 per share from N156.