Investors Trade N74.81bn Shares As NGX Index Slips By 0.62%

Activities on the Nigerian Exchange (NGX) witnessed a surge in trading volume and value during the week, as investors exchanged a total of 3.932 billion shares worth N74.81bn across 105,220 deals.

This represents a significant increase compared to the previous week’s performance, where 2.606 billion shares valued at N63.79bn were traded in 77,593 deals.

Despite the heightened trading activity, market indicators closed the week on a bearish note. The NGX All-Share Index declined by 0.62 per cent to settle at 109,028.62 points, while the market capitalization dropped by 0.29 per cent, ending at N68.752trn.

Sectoral performance was largely negative, with most indices closing in the red.

However, a few sectors managed to post gains. The NGX Insurance Index rose by 0.73 per cent, the NGX AFR Dividend Yield Index edged up by 0.11 per cent, the NGX Consumer Goods Index gained 2.18 per cent, and the NGX Industrial Goods Index appreciated by 0.72 per cent.

Meanwhile, the NGX ASeM Index remained unchanged throughout the week.

In terms of sectoral contributions, the Financial Services industry dominated trading activity by volume, with 2.405 billion shares valued at N32.27bn changing hands in 44,570 deals.

This sector accounted for 61.16 per cent of the total volume and 43.14 per cent of the total value of equity transactions. The Services industry followed with 442.995 million shares worth N4.20bn traded in 7,523 deals.

The Consumer Goods sector ranked third, with 283.157 million shares valued at N12.68bn in 15,675 deals.

Among individual equities, Royal Exchange Plc, Fidelity Bank Plc, and Tantalizer Plc emerged as the top three most traded stocks by volume. Combined, they accounted for 1.610 billion shares worth N8.897bn in 8,079 deals, representing 40.95 per cent of the total turnover volume and 11.89 per cent of the total value.

Market sentiment showed signs of waning investor confidence, as the number of gainers decreased to 52, compared to 61 in the previous week. Conversely, the number of decliners rose to 41 from 31 a week earlier. Meanwhile, 55 equities remained unchanged, slightly down from 56 in the preceding week.

The mixed performance reflects cautious trading by investors amid evolving market dynamics and economic indicators.

Investors Trade N74.81bn Shares As NGX Index Slips By 0.62% is first published on The Whistler Newspaper