NGX Market Value Drops Despite Increased Trading Activity

The Nigerian Exchange (NGX) closed the week with a negative performance, as the All-Share Index (ASI) and market capitalisation both decreased by 0.13%, ending at 247,222.27 points and N160.519 trillion, respectively. In contrast to the decline, trading activity saw an uptick, with investors trading 2.024 billion shares valued at N110.773 billion across 173,113 deals during the week.

This was an increase compared to the previous week, where 1.659 billion shares worth N98.088 billion were traded in 184,632 deals. The Financial Services sector led trading by volume, with 1.111 billion shares worth N53.908 billion exchanged across 81,787 deals, accounting for 54.89% of total trading volume and 48.66% of total trading value.

The Consumer Goods Industry followed, trading 394.039 million shares valued at N9.811 billion in 17,912 deals. The Agriculture sector ranked third, with 147.170 million shares worth N2.821 billion traded across 7,462 deals.

Notably, Multi-Trex Integrated Foods and Livestock Feeds were significant contributors, together recording 521.565 million shares worth N19.093 billion in 16,487 deals, which represented 25.76% of total trading volume and 17.24% of total trading value. Additionally, 20 equities recorded price gains, a decrease from 50 in the previous week.