The Nigerian Exchange (NGX) turnover declined by 47.1 percent to N134.49 billion, signalling weaker trading activities relative to last week’s performance.
This week, investors traded 2.32 billion shares worth N134.49 billion in 249,328, according to the bourse’s weekly market report.
The value of shares traded fell by 47.1 percent from the N254.61 billion exchanged for 3.08 billion shares in 287,157 deals the previous week.
The decline in trading activity reflects the bearish outlook of the local bourse, as the market capitalisation also dropped to N148.91 trillion at the close of trading — from N151.33 trillion recorded a week earlier.
The all-share index (ASI) shed 3,894.14 basis points during the week, declining by 1.65 percent to close at 232,049.02 from 235,943.16 basis points.
Analysis of the data showed that the financial services industry recorded the highest trading volume with 1.52 billion shares worth N47.54 billion exchanged in 105,230 deals.
The sector accounted for 65.53 percent of the total equity turnover volume and 35.35 percent of the total value traded.
The ICT industry followed with 198.82 million shares valued at N32.62 billion in 29,905 deals, while the consumer goods industry posted a turnover of 151.64 million shares worth N10.93 billion in 23,951 deals.
TOP THREE EQUITIES
Access Holdings Plc, Fidelity Bank Plc, and Chams Holding Company Plc emerged as the three most traded stocks by volume.
The NGX said the companies recorded a combined turnover of 485.75 million shares valued at N7.66 billion in 17,843 deals, representing 20.9 percent of the total volume traded and 5.69 percent of the total value.
TOP GAINERS OF THE WEEK
The report also indicated that McNichols Plc led the gainers’ chart after its share price rose by 26.47 percent from N6.8 to N8.6.
International Energy Insurance Plc followed with a share price appreciation 14.43 percent to N5.79 from N5.06.
Guaranty Trust Holding Company Plc gained 10.69 percent, moving from N115.95 to close at N127.9.
First HoldCo Plc also recorded an uptick in its share value, which increased by 10 percent from N55 to N60.50.
Also, Airtel Africa Plc advanced by 10 percent to settle at N4,358.8.
TOP LOSERS OF THE WEEK
The bourse said Trans-Nationwide Express Plc recorded the biggest decline after its share price fell 26.79 percent from N4.48 to N3.28.
Deap Capital Management & Trust Plc shed 23.31 percent to close at N3.75 — down from N4.89.
In addition, Abbey Mortgage Bank Plc lost 20.3 percent, declining from N10.1 to N8.05.
While Aradel Holdings Plc’s stock price dropped 19 percent to close at N1,417.5 from N1,750, Regency Assurance Plc also fell from N0.97 to N0.79 — down by 18.56 percent.
