Financial Services Lead Market Activity with NGX Recording ₦107bn Turnover

In five days, investors in Nigeria’s stock market traded 4.77 billion shares across 152,965 deals. These trades were worth ₦107.43 billion, according to data in the latest Nigerian Exchange (NGX) report.

Compared with last week, the market turnover increased by 7.49%. Last week, 8.56 billion shares were traded in 177,870 deals worth a total of ₦99.94 billion.

Unfortunately, the all-share index (ASI) and market capitalization dipped this week by 2.51%, closing at 141,004.14 and ₦89.209 trillion.

The financial services industry topped the trading activity by exchanging 3.73 billion shares valued at ₦60.63 billion in 72,977 deals. This sector made up 78.24% of the total volume and 56.44% of the overall equity value.

Following behind was the consumer goods industry, trading 370.404 million shares worth ₦14.025 billion in 17,997 deals. The services industry was third, moving 176.285 million shares valued at ₦1.279 billion in 8,790 deals.

Over the week, Universal Insurance Plc, Zenith Bank Plc, and FCMB Group Plc were the most active equities, making up 1.20 billion shares worth ₦29.43 billion in 10,537 deals. They contributed significantly to the market’s total equity turnover.

Winners and Losers of the Week

Austin Laz & Company Plc saw the biggest gains, with shares rising by 20.83% to close at ₦2.9 per share.

Following close behind, NCR Nigeria Plc shares went up by 20.69% to reach ₦10.5 kobo. Nigerian Enamelware Plc’s stock jumped 19.45%, closing at ₦39.

Conversely, Thomas Wyatt Nigeria Plc topped the decliner’s list, dropping by 18.92% to ₦3 per share. NEM Insurance Plc also saw a significant fall of 18.15%, closing at ₦26.6.

Other declines included Stanbic IBTC, Lasaco Assurance, and R.T. Briscoe Plc, which all faced decreases in their share prices.

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