Nigerian Stock Market Turnover Rises 27% to N176bn

Trading activity on the Nigerian Exchange (NGX) Limited surged this week as investors traded 12.15 billion shares worth N176.06 billion in 224,146 deals.
According to the NGX weekly report, the latest turnover represents a 126.78 percent increase in volume when compared to the 5.36 billion shares valued at N139.05 billion in 261,869 deals traded by investors the previous week.
Despite the surge in trading activity, the equity market closed lower during the week.
The NGX all-share index (ASI) fell by 1.20 percent to close at 242,619.20 points, from 245,573.07 ASI recorded in the previous week.
Market capitalisation fell by 1.19 percent to N156.62 trillion, down from N158.512 trillion recorded in the previous week.
Financial services industry dominated trading activity, accounting for 11.21 billion shares worth N88.99 billion in 102,246 deals.
The sector contributed 92.25 percent of total equity turnover by volume and accounted for 50.55 percent of the value.
Information and communication technology (ICT) industry ranked second, with 246.13 million shares worth N51.61 billion traded in 27,169 deals.
The services industry occupied third place, recording turnover of 198.20 million shares valued at N2 billion in 13,747 deals.
Trading in the three most active equities — Fortis Global Insurance Plc, Cornerstone Insurance Plc and Consolidated Hallmark Holdings Plc — accounted for 9.49 billion shares worth N36.22 billion in 1,781 deals.
The three companies contributed 78.07 percent of the total equity turnover volume and accounted for 20.57 percent of the total value traded during the week.
On the price movement chart, Trans-Nationwide Express Plc emerged as the biggest gainer, with its share price rising from N2.15 to N2.84, representing a 32.09 percent increase.
International Energy Insurance’s share followed, appreciating by 31.68 percent from N4.04 to N5.32.
Also, Sovereign Trust Insurance rose 13.77 percent from N1.67 to N1.90.
Chams Holding Company recorded a 12.25 percent appreciation in its share value, which rose from N4.08 to N4.58.
CWG Plc completed the top five gainers, with its share price advancing 9.74 percent from N19.50 to N21.40.
On the losers’ chart, the share price of Ava Capital recorded the biggest decline, falling 34.55 percent from N11 to N7.20.
Unilever Nigeria reported an 18.94 percent decline in its share price, after it dropped from N145.95 to N118.30.
In addition, Zichis Agro-Allied Industries’ share value declined 15.08 percent from N21.55 to N18.30.
Thomas Wyatt Nigeria lost 14.33 percent in its share price to close at N2.75 from N3.21.
The report also said Dangote Sugar Refinery’s share price fell 11.58 percent from N73 to N64.55.