The financial services sector dominated trading on the Nigerian Exchange Limited (NGX) last week, accounting for 91.75 percent of total equity turnover volume, according to the exchange’s weekly market report.
Investors exchanged 6.99 billion shares valued at N573.49 billion in 85,998 deals in the sector, underscoring its outsized role in driving market activity for the week ended October 30.
Overall, the NGX recorded a significant surge in trading activity, with 7.62 billion shares worth N637.83 billion exchanged in 192,138 deals. Trading volume increased by 276.4 percent, while the value of transactions rose by 475.7 percent compared to the previous week, when 2.02 billion shares worth N110.77 billion were traded in 173,113 deals.
The consumer goods industry ranked second, with 164.65 million shares worth N7.2 billion exchanged in 20,297 deals. The services industry followed in third place, recording a turnover of 93.28 million shares valued at N1.57 billion in 9,932 deals.
First Holdco Plc, Guaranty Trust Holding Company Plc (GTCO), and United Bank for Africa Plc (UBA) emerged as the three most traded equities by volume. The companies recorded a combined turnover of 6.096 billion shares valued at N544.44 billion in 27,001 deals, accounting for 80.02 percent of total equity turnover volume and 85.36 percent of the value traded.
The bourse closed the week on a positive note, with the All Share Index (ASI) and market capitalisation appreciating by 2.86 percent to 254,299.49 points and N165.11 trillion, respectively.
Dangote Cement Plc led the gainers chart, with its share price rising by 27.81 percent to N1,420 from N1,111. Honeywell Flour Mill Plc followed, appreciating by 25.98 percent to N22.55 from N17.90. UPDC Real Estate Investment Trust gained 20.57 percent to close at N21.10, while Sovereign Trust Insurance Plc advanced by 20.51 percent to N2.35. Eterna Plc completed the top five gainers, rising by 9.9 percent to N42.75.
On the losing side, Caverton Offshore Support Group Plc recorded the biggest decline, falling by 25 percent to N3.60 from N4.80. Livestock Feeds Plc shed 21.99 percent to close at N13.30, while Austin Laz and Company Plc declined by 17.54 percent to N2.35. First Holdco Plc lost 17.31 percent to close at N119.15, and Guinea Insurance Plc dropped by 17.2 percent to N0.77.
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