Nigeria: Stock Market Transactions Drop 8.81% Amid Lower Turnover

Investors on the Nigerian Exchange Ltd. (NGX) traded a total of 1.818 billion shares valued at N47.226 billion in 64,222 transactions this week, reflecting a decline in market activity.

According to NGX’s weekly report released in Lagos, this represents a drop compared to the 1.848 billion shares worth N51.387 billion traded last week in 63,090 deals.

As a result, the total value of transactions decreased by 8.81 per cent week-on-week.

The Financial Services Industry led in trading activity, with 1.260 billion shares worth N27.817 billion exchanged in 29,800 deals. This sector accounted for 69.31 per cent of the total equity turnover volume and 58.90 per cent of total value.

Following closely, the Consumer Goods industry recorded 123.336 million shares worth N3.069 billion across 7,793 deals, while the Services Industry placed third with 118.931 million shares valued at N832.602 million in 3,730 deals.

Zenith Bank Plc, Fidelity Bank Plc, and Access Holdings Plc emerged as the most traded equities, contributing 451.558 million shares worth N13.583 billion in 10,055 transactions. These stocks accounted for 24.84 per cent of total trading volume and 28.76 per cent of total value.

The NGX All-Share Index and market capitalisation dropped by 1.19 per cent and 0.71 per cent, closing at 106,538.60 points and N66.717 trillion, respectively.

All other indices ended the week lower, except for the NGX ASeM and NGX Commodity indices, which rose by 0.04 per cent and 0.19 per cent, respectively.

Market performance showed that 30 equities appreciated in price, an increase from 27 in the previous week. Meanwhile, 58 stocks declined, an improvement from 60 in the prior week, and 62 equities remained unchanged, compared to 63 previously recorded.

The top five decliners of the week were Eterna, Transnational Corporation, First City Monument Bank, Royal Exchange, and Sovereign Trust, which lost N7.85, N10.10, N1.50, 12k, and 15k, respectively.

Conversely, the top five gainers included Tantalizers, UH Real Estate Investment Trust, Livestock Feeds, Nigerian Exchange Group, and Learn Africa, posting gains of 36.32 per cent, 28.59 per cent, 12.38 per cent, and 10 per cent, respectively. These companies saw price increases of 60k, N12.65, N0.92, N3.00, and 33k, respectively.