Nigerian Stocks Attract N73.889bn Transactions in One Week on NGX

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited recorded a significant rise in trading value last week despite a lower trading volume after it welcomed a new member, Aradel Holdings Plc on Monday, October 14, 2024.

In the week, investors bought and sold 1.447 billion Nigerian stocks worth N73.889 billion in 39,546 deals versus the 2.966 billion units valued at N31.508 billion transacted a week earlier in 42,482 deals.

The financial services space led the activity chart with 886.971 million equities valued at N16.943 billion in 17,045 deals, contributing 61.31 per cent and 22.93 per cent to the total trading volume and value, respectively.

The energy sector recorded a turnover of 257.578 million shares worth N52.067 billion in 9,798 deals, and the services counter traded 69.620 million stocks worth N330.878 million in 2,069 deals.

Japaul, UBA, and Zenith Bank were the most active in the five-day trading week with 420.318 million shares valued at N8.417 billion in 5,146 deals, accounting for 29.05 per cent and 11.39 per cent of the total equity turnover volume and value, respectively.

The price movement data showed that 33 shares appreciated in the period under review compared with the 29 shares of the preceding week, as 43 equities depreciated versus 52 equities of the earlier week, while 76 stocks closed flat, in contrast to the 70 stocks recorded in the previous week.

Transcorp Power topped the gainers’ table with a price appreciation of 19.29 per cent to N359.90, MeCure Industries gained 18.81 per cent to finish at N12.00, Dangote Sugar expanded by 13.06 per cent to N35.05, Oando rose by 10.00 per cent to N77.00, and Golden Guinea Breweries also grew by 10.00 per cent to N3.74.

Conversely, Regency Assurance topped the losers’ chart after it lost 15.28 per cent to settle at 61 Kobo, Tripple Gee shed 14.93 per cent to close at N1.71, Aradel Holdings depleted by 11.00 per cent to N625.40, Caverton depreciated by 9.23 per cent to N2.36, and Vitafoam crumbled by 9.09 per cent to N20.00.

Business Post reports that the All-Share Index (ASI) and the market capitalisation appreciated by last week 0.48 per cent and 5.95 per cent to 98,070.28 and N59.425 trillion, respectively.

Apart from the NGX CG, banking, insurance, AFR Bank Value, MERI Value and sovereign bond indices, which fell by 0.21 per cent, 0.51 per cent, 1.23 per cent, 0.09 per cent, 0.65 per cent and 3.29 per cent, respectively, and the ASeM index, which closed flat, all other indices finished higher.