Stock market turnover drops 10.4% to N157.76bn as NGX records weekly decline
By Aboki Forex —
The Nigerian Exchange (NGX) recorded a 10.4 percent decline in the value of shares traded in the week ended August 21. Investors exchanged N157.76 billion for 6.24 billion shares in 186,496 deals.
According to the NGX weekly report, the value of shares traded fell from N176.06 billion exchanged for 12.15 billion shares in 224,146 deals the previous week.
Market indices and sector activity
The NGX all-share index and market capitalisation both depreciated during the week. The index fell by 1.35 percent to close at 239,351.16, while market capitalisation dropped by 1.33 percent to N154.53 trillion.
The financial services industry led trading activity with 5.59 billion shares worth N56.43 billion exchanged in 82,300 deals. That sector accounted for 89.62 percent of total equity turnover volume and 35.77 percent of the total value traded.
The ICT industry followed with 143.70 million shares valued at N29.79 billion in 23,740 deals. The services industry recorded a turnover of 138.67 million shares worth N1.75 billion in 11,438 deals.
Top traded equities and price movements
Fortis Global Insurance Plc, Lasaco Assurance Plc and Consolidated Hallmark Holdings Plc emerged as the three most traded equities by volume. The companies recorded a combined turnover of 4.17 billion shares worth N9.25 billion in 1,660 deals, representing 66.77 percent of total equity turnover volume and 5.86 percent of the total value traded.
Haldane McCall Plc led the gainers after its share price rose by 32.30 percent from N2.91 to N3.85. Trans-Nationwide Express Plc followed with a 16.20 percent gain, rising from N2.84 to N3.30. Dangote Sugar Refinery Plc appreciated by 5.19 percent, moving from N64.55 to N67.90. Cadbury Nigeria Plc gained 4.68 percent to close at N64.90 from N62. UACN Plc completed the top five gainers after its share price increased by 4.62 percent from N170 to N177.85.
International Energy Insurance Plc recorded the biggest decline after its share price fell by 27.26 percent from N5.32 to N3.87. Fortis Global Insurance Plc followed with a 23.95 percent decline, dropping from N2.63 to N2. Royal Exchange Plc shed 18.49 percent, falling from N1.19 to N0.97. Red Star Express Plc declined by 18.33 percent to close at N14.70 from N18. UPDC Plc completed the top five losers after its share price fell by 10.67 percent from N3.75 to N3.35.