Trading activity on the Nigerian Exchange (NGX) weakened sharply during the holiday-shortened week, with turnover declining by 79.12 per cent amid fewer trading sessions.
In its weekly market report, the NGX said investors traded 2.87 billion shares worth N63.83 billion in 80,229 deals, reflecting just three days of market activity following the federal government’s declaration of December 25 and 26 as public holidays for Christmas.
The performance contrasted with the previous week, when 9.84 billion shares valued at N305.84 billion were exchanged in 126,584 deals.
Despite the drop in trading volume, the exchange said market capitalisation rose to N97.89 trillion, up from N96.93 trillion in the previous week.
The increase followed a 0.97 per cent rise in the All-Share Index (ASI), which advanced from 152,057.38 points to 153,539.83 points.
The financial services sector led market activity, accounting for 1.98 billion shares valued at N32.68 billion in 31,632 deals, representing 68.99 per cent of total volume and 51.20 per cent of total value.
This was followed by the investment industry, which traded 208.69 million shares worth N2.26 billion, and the conglomerates sector, which recorded 147 million shares valued at N6.08 billion.
Abbey Mortgage, VFD Group Lead NGX Trading as Market Ends Week Higher
By Uzo Okoye
Abbey Mortgage Bank Plc, VFD Group Plc, and Custodian Investment Plc emerged as the most actively traded stocks on the Nigerian Exchange during the week, accounting for more than half of total equity volume.
According to NGX data, the three stocks recorded a combined 1.47 billion shares worth N14.68 billion in 1,093 deals, contributing 51.15 percent of total traded volume and 23 percent of total value.
On the gainers’ chart, Aluminium Extrusion Industries Plc rose 4 percent to close at N16.35 per share, while Austin Laz & Company Plc advanced from N2.42 to N3.20.
International Breweries Plc gained N2.50, closing the week at N14.50, while Mecure Industries Plc climbed by N10.20 to N65.20 per share.
First HoldCo Plc also recorded strong gains, rising from N44.95 to N53 per share, an increase of N8.05.
On the decliners’ list, Legend Internet Plc fell from N5.55 to N4.90, while Champion Breweries Plc dropped N1.95 to close at N15 per share.
Nem Insurance Plc declined to N24.10, AXA Mansard Insurance Plc slipped to N13, and Associated Bus Company Plc fell to N3.27 per share.
