Consumer Goods Industry Leads As NGX Records N132.81bn In Trading Week

Investors on the Nigerian Exchange Limited (NGX) saw a total turnover of 2.87bn shares valued at N132.81bn across 39,867 transactions during the past week.

This marks a slight decline compared to the 3.32 billion shares worth N45.91bn traded across 49,243 deals in the previous week.

The trading week was shortened to four days due to the Federal Government of Nigeria’s declaration of Tuesday, October 1, 2024, as a public holiday in celebration of the nation’s Independence Day.

The NGX All-Share Index (ASI) and Market Capitalization experienced a dip, both depreciating by 0.95 per cent. The ASI closed at 97,520.54 points, while the Market Capitalization ended the week at N56.04trn.

Most market indices followed this downward trend, with the exception of a few that recorded gains. The NGX CG, NGX Pension, NGX Insurance, NGX AFR Bank Value, NGX MERI Growth, NGX MERI Value, NGX Consumer Goods, NGX Oil & Gas, and NGX Growth indices all posted positive returns, appreciating by 1.21 per cent, 0.61 per cent, 3.81 per cent, 2.69 per cent, 0.23 per cent, 10.87 per cent, 0.34 per cent, 7.29 per cent, and 5.43 per cent respectively.

Meanwhile, the NGX ASeM and NGX Sovereign Bond indices remained unchanged.

In terms of sectoral performance, the Consumer Goods Industry led the activity chart by volume, with 1.34bn shares valued at N106.09bn traded across 4,652 deals.

This accounted for 46.68 per cent of the total equity turnover volume and a significant 79.89 per cent of the overall market value.

The Financial Services Industry came second, with 926.62m shares worth N14.92bn traded in 19,174 deals. The Oil and Gas Industry ranked third, with a turnover of 244.64m shares valued at N7.22bn across 4,221 deals.

Among individual equities, Guinness Nigeria Plc, United Bank for Africa Plc, and Japaul Gold & Ventures Plc were the top three traded stocks by volume.

These three accounted for 1.71 billion shares worth N110.77bn in 5,004 deals, representing 59.47 per cent of the total equity turnover volume and 83.40 per cent of the total market value.

Price movements were relatively stable during the week, with 45 equities appreciating in price, the same as the previous week.

Similarly, 33 equities recorded price declines, consistent with the prior week, while 73 equities remained unchanged.

The market remains in a mixed phase, reflecting a combination of profit-taking and selective buying interest across sectors. Investors continue to watch key economic developments and corporate earnings reports as the year progresses.