Investors Trade N1.86bn Shares Valued At N38.45bn On NGX

Investors recorded a total turnover of 1.86bn shares worth N38.45bn in 40,228 deals on the Nigerian Exchange Limited (NGX) during the week.

This represents a decrease compared to the previous week where a total of 2.58bn shares valued at N51.21bn that exchanged hands last week in 50,615 deals.

The decline in trading volume is attributed to lower investor confidence and a cautious outlook, as some market participants shift their focus towards fixed-income securities.

The market opened for four trading days this week as the Federal Government of Nigeria declared Monday September 16, 2024, as Public Holiday to commemorate 2024 Eid el Maulud celebration.

The NGX All-Share Index and Market Capitalization appreciated by 0.81 per cent to close the week at 98,247.99 and N56.46trn respectively.

Similarly, all other indices finished higher with the exception of NGX MERI Value, NGX Consumer Goods, NGX Industrial Goods, NGX Growth and NGX Sovereign Bond which depreciated 0.34 per cent, 0.77 per cent, 0.13 per cent, 10.85 per cent and 3.59 per cent respectively while the NGX ASeM index closed flat.

The Financial Services Industry (measured by volume) led the activity chart with 820.815 million shares valued at N16.15bn traded in 16,627 deals; thus contributing 44.13 per cent and 42.01 per cent to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with 443.71m shares worth N5.06bn in 5,319 deals. The third place was the Conglomerates Industry, with a turnover of 183.73m shares worth N2.971 billion in 2,510 deals.

Trading in the top three equities namely Japaul Gold & Ventures Plc, FBN Holdings Plc and UACN Plc (measured by volume) accounted for 728.03m shares worth N10.03bn in 4,374 deals, contributing 39.14 per cent and 26.09 per cent to the total equity turnover volume and value respectively.

Forty-one equities appreciated in price during the week lower than fifty-two equities in the previous week.

Forty equities depreciated in price higher than thirty-one in the previous week, while seventy equities remained unchanged, higher than sixty-eight recorded in the previous week.