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By Chukwuma Umeorah
Trading activity on the Nigerian Exchange Limited (NGX) rose sharply last week as total deals increased by 19.35 per cent to 286,751, with investors exchanging 4.652 billion shares valued at N193.33 billion.
This represents an improvement from the 240,463 deals recorded in the previous week, when 3.860 billion shares worth N128.58 billion were traded, reflecting stronger participation across the equities segment.
Analysts at Cowry in there weekly review said “the improved trading activity reflects sustained investor interest and liquidity in the market, although profit-taking may moderate gains in the near term.”
The NGX All-Share Index advanced by 6.16 per cent week-on-week to close at 182,313.08 points, while market capitalisation rose by the same margin to N117.03 trillion, adding approximately N6.79 trillion in value. Year-to-date return strengthened to 17.76 per cent.
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Market breadth remained positive, with 79 equities appreciating in price, higher than 71 in the previous week. Twenty-seven equities declined, down from 35, while 42 closed flat.
Sectoral performance was largely positive. The NGX Oil and Gas Index led with an 11.40 per cent gain, followed by the Commodities Index which rose 8.42 per cent. The Industrial Goods Index appreciated by 7.09 per cent, while the Banking and Consumer Goods indices gained 5.84 per cent and 2.95 per cent respectively. The Insurance Index posted a modest increase of 0.65 per cent.
The Financial Services industry dominated trading by volume, accounting for 2.782 billion shares valued at N74.06 billion in 104,325 deals, contributing 59.81 per cent and 38.31 per cent to total equity turnover volume and value respectively. The Services industry followed with 573.19 million shares worth N7.18 billion, while the Consumer Goods industry recorded 317.67 million shares valued at N24.03 billion.
Trading in the top three equities by volume include Deap Capital Management & Trust Plc, Access Holdings Plc and Zenith Bank Plc accounted for 980.25 million shares worth N30.18 billion in 25,390 deals, representing 21.07 per cent and 15.61 per cent of total volume and value traded respectively.
On the price movement chart, Zichis Agro Allied Industries Plc gained 60.71 per cent to close at N10.80 per share, followed by Union Dicon Salt Plc which rose 60.15 per cent to N20.90. Daar Communications Plc appreciated by 55.26 per cent to N2.95, while Fortis Global Insurance Plc advanced 50.00 per cent to N0.39. John Holt Plc increased by 45.21 per cent to close at N10.60 per share.
On the decliners’ table, Abbey Mortgage Bank Plc shed 26.42 per cent to N11.00 per share, while Sovereign Trust Insurance Plc dropped 17.16 per cent to N2.80. Ecobank Transnational Incorporated declined by 13.29 per cent to N45.00, and Skyway Aviation Handling Company Plc lost 11.59 per cent to close at N135.00.
