NEWS
NGX Weekly Turnover Falls to N98.09 Billion as ASI Sheds 0.33%
NGX Weekly Turnover Falls to N98.09 Billion as ASI Sheds 0.33%
October 18, () – Trading activity on the Nigerian Exchange Limited (NGX) weakened during the week, as investors exchanged 1.659 billion shares worth N98.088 billion, compared with 2.715 billion shares valued at N158.280 billion in the preceding week.
The figures represent a 38.9 per cent decline in traded volume and a 38.0 per cent contraction in transaction value, reflecting a slowdown in equity market activity over the review period.
Despite the decline in turnover, market breadth improved, with 50 equities appreciating in price, up from 24 in the previous week. The number of decliners dropped to 30 from 54, while unchanged stocks decreased to 66 from 68.
However, the broader market performance remained negative, as the NGX All-Share Index (ASI) depreciated by 0.33 per cent to close at 247,539.73, while market capitalisation ended the week at N160.725 trillion.
The Financial Services Industry led the activity chart by volume, with 1.083 billion shares valued at N48.967 billion exchanged during the week. The sector accounted for 65.31 per cent of total equity turnover volume and 49.92 per cent of its value.
The Agriculture Industry ranked second, recording transactions in 129.650 million shares worth N2.182 billion, while the Information and Communications Technology (ICT) Industry placed third, with 87.909 million shares valued at N6.964 billion traded.
At the individual stock level, Access Holdings Plc, United Bank for Africa Plc and Livestock Feeds Plc were the three most actively traded equities by volume. Together, they recorded 413.964 million shares worth N12.158 billion, accounting for 24.96 per cent of total equity turnover volume and 12.40 per cent of its value.
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Top Gainers
Livestock Feeds led the gainers’ chart, advancing by 44.49 per cent (N13.15 to N19.00).
Channel
E-Tranzact gained 42.98 per cent (N12.10 to N17.30).
Multi-Trex Integrated Foods rose by 42.86 per cent (N0.42 to N0.60).
Austin Laz appreciated by 32.73 per cent (N2.20 to N2.92).
Omatek gained 19.40 per cent (N1.34 to N1.60).
On the decliners’ chart, UPDC Real Estate Investment Trust led the losses, shedding 11.88 per cent (N24.00 to N21.15).
Nigerian Enamelware fell by 9.95 per cent (N40.70 to N36.65).
NASCON declined by 9.48 per cent (N188.90 to N171.00).
Trans-Nationwide Express lost 9.09 per cent (N2.97 to N2.70).
LivingTrust Mortgage Bank shed 8.44 per cent (N3.20 to N2.93).
The sectoral indices recorded mixed performances during the week, although most closed lower alongside the benchmark index. The NGX Oil & Gas Index led the advancing indices, rising by 3.13 per cent, followed by the NGX Commodity Index, which gained 2.36 per cent.
The NGX Lotus II Index appreciated by 0.88 per cent, while the NGX Main Board Index rose by 0.50 percent. The NGX Consumer Goods Index gained 0.09 per cent, the NGX Growth Index advanced by 0.07 per cent, and the NGX Industrial Goods Index edged up by 0.004 per cent. The NGX Sovereign Bond Index closed flat.
Trading in bonds also increased during the week, with 2.643 million units valued at N2.641 billion exchanged in 56 deals. This compared with 144,034 units worth N146.416 million traded in the previous week, indicating a substantial increase in bond market activity.
The week’s performance reflects a market characterised by weaker equity turnover and a marginal decline in the benchmark index, despite an improvement in market breadth. The increase in advancing stocks suggests that buying interest was more widespread, even as the overall market value declined.
Going into the next trading week, investors will likely monitor turnover for signs of renewed participation and assess whether gains across individual equities can translate into a sustained recovery in the All-Share Index. Continued strength in the Oil & Gas and Commodity indices may support sentiment, while the broader market’s direction will depend on sustained buying interest and performance across major listed stocks.
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