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  • Business - Market Data
  • Updated: February 17, 2024

NGX weekly report: Financial services sector leads market activity with N36.50 billion turnover

NGX weekly report: Financial services sector leads market ac

This week, investors traded 42,546 deals totaling 1.6 billion shares worth N36.50 billion on the Nigerian Exchange Ltd. (NGX) equity market, with the financial services sector leading activity.

This was in contrast to 2.478 billion shares, valued at N47.856 billion, that changed hands in 54,982 deals the previous week, according to the NGX weekly market report.

As per the data, the financial services sector topped the activity chart in terms of volume, having transacted 1.127 billion shares worth N18.908 billion in 19,424 deals.
Thus, the industry's share of the overall equity turnover volume and value was 51.81% and 72.27%, respectively.

In 2,775 transactions, the conglomerate industry accounted for 117.400 million shares, valued at N1.508 billion.

Consumer goods came in third place with a turnover of 98.422 million shares in 6,322 deals, valued at N4.008 billion.

The top three stocks, United Bank for Africa (UBA), FBN Holdings Plc, and Guaranty Trust Holding Company Plc (GTCO), were traded in 5,372 trades totaling 389.286 million shares valued at N11.757 billion.

In terms of volume and value, this added 24.96% and 32.21%, respectively, to the overall equity turnover.

In contrast to last week's total of 3.144 million units valued at N108.299 million sold in 659 deals, investors transacted a total of 27,394 units valued at N16.787 million this week in 239 trades involving exchange-sold products (ETPs).

In bonds, the market transacted 69,544 units valued at N67.744 million in 35 deals last week, while this week's total of 639,482 units was valued at N638.502 million in 24 deals.

As a result, the market capitalization and NGX All-Share Index increased by 3.79 percent to finish the week at N57.850 trillion and 105,722.78, respectively.

Additionally, the price appreciation of 35 stocks during the week was bigger than that of 20 stocks the week before.

The price of 51 stocks decreased from 68 the week before, while the price of 68 stocks stayed the same, rising from 66 the week before.

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