NGX Weekly Activity Level Slumps as Appetite for High-Risk Investments Wanes

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited’s activity was down last week after market participants bought and sold 2.829 billion shares worth N208.407 billion in 192,158 deals versus the previous week’s 7.619 billion shares valued at N637.826 billion executed in 192,138 deals.

Data from Customs Street indicated that financial stocks led the activity chart with 1.983 billion units sold for N126.627 billion in 84,899 deals, contributing 70.11 per cent and 60.76 per cent, respectively.

Consumer goods equities traded 245.568 million units worth N15.852 billion in 21,445 deals, and agriculture shares exchanged 160.610 million units valued at N3.283 billion in 5,511 deals.

First Holdco, Access Holdings, and Honeywell Flour Mill Plc accounted for 992.859 million units valued at N71.044 billion in 20,512 deals, contributing 35.10 per cent and 34.09 per cent to the trading volume and value, respectively.

In the week, 29 equities appreciated versus 33 equities in the previous week, 57 equities depreciated versus 48 equities a week earlier, and 60 equities remained unchanged versus 65 equities in the preceding week.

Honeywell Flour led the gainers’ chart after it chalked up 30.82 per cent to settle at N29.50. Transcorp Power climbed by 23.37 per cent to M219.60, eTranzact expanded by 14.42 per cent to N18.65, AXA Mansard improved by 9.77 per cent to N11.80, and The Initiates rose by 9.57 per cent to N26.90.

Vitafoam Nigeria, on its part, led the losers’ table after it shed 18.96 per cent to finish at N141.50. Sovereign Trust Insurance slipped by 17.02 per cent to N1.95, Eterna depreciated by 15.79 per cent to N36.00, ABC Transport tumbled by 13.64 per cent to N5.70, and International Energy Insurance dropped 12.82 per cent to end at N1.70.

The All-Share Index (ASI) and the market capitalisation depreciated by 2.13 per cent to close the week at 248,877.22 points and N161.594 trillion, respectively.

Similarly, all other indices finished lower apart from the growth index, which appreciated by 1.33 per cent, while the sovereign bond Index closed flat.