Stock market traders in Nigeria exchanged ₦47.26 billion in 64,220 deals, trading 1.81 billion shares between March 3 and March 7, according to the Nigerian Exchange Limited (NGX) weekly report.
The latest figures show a reduction compared to the previous week when investors traded 1.83 billion shares valued at ₦51.38 billion in 63,090 deals, representing an 8 per cent drop in trading activity.
The financial services industry led in trade volume, with investors exchanging 1.26 billion shares worth ₦27.81 billion in 29,800 deals. This accounted for 69.31 per cent of total traded shares and 58.9 per cent of the market’s total value.
Following financial services, the consumer goods industry recorded 123.33 million shares traded, valued at ₦3.07 billion in 7,793 deals, while the services industry saw 118.93 million shares worth ₦832.6 million exchanged in 3,730 deals.
Zenith Bank Plc, Fidelity Bank Plc, and Access Holdings Plc emerged as the most traded equities during the period, accounting for 451.55 million shares valued at ₦13.58 billion in 10,055 deals. The three stocks contributed 24.84 per cent to total trade volume and 28.76 per cent to market value.
Among the top gainers of the week, Tantalizer Plc’s stock rose from ₦1.90 to ₦2.59 per share, gaining ₦0.69. UH Real Estate Investment Trust increased by ₦12.65 to close at ₦56.90, while Livestock Feeds Plc saw a ₦0.92 rise to ₦8.35 per share. Nigerian Exchange Group’s stock gained ₦3 to close at ₦33 per share, and Learn Africa Plc appreciated by ₦0.10 to end the week at ₦3.63.
On the losing side, Eterna Plc’s share price fell from ₦42.00 to ₦34.15, recording a ₦7.85 loss. Transnational Corporation’s stock dropped by ₦10.10 to ₦46.90 per share, while FCMB lost 14.15 per cent, closing at ₦46.90 from an initial ₦10.60. Royal Exchange saw a decline of ₦0.12 to ₦0.78 per share, and Sovereign Trust lost 13.16 per cent, ending the week at ₦0.99 per share from ₦1.14.
The NGX report shows ongoing market fluctuations and investor sentiment, as well as the economic conditions that influence trading activities.
(The Guardian)
