Financial Sector Leads as NGX Trading Value Hits N237bn

The Nigerian Exchange (NGX) recorded an 82.8 percent surge in the value of shares traded for the week ended September 18, with investors trading N237.99 billion worth of 3.25 billion shares in 287,919 deals.

This was contained in the NGX weekly report released on Saturday. The figure is up from N130.15 billion for 3.65 billion shares in 244,777 deals recorded in the previous week.

The market also closed positive as the All-Share Index (ASI) and market capitalisation appreciated by 2.78 percent and 2.90 percent to close at 249,804.56 points and N162.16 trillion respectively.

The financial services industry dominated trading, accounting for the highest volume with 2.58 billion shares valued at N97.21 billion in 138,900 deals. The sector contributed 79.43 percent of total equity turnover volume and 40.85 percent of total value.

The services industry followed with 131.10 million shares worth N2.73 billion in 15,084 deals, while the ICT industry posted a turnover of 114.62 million shares valued at N21.54 billion in 29,152 deals.

Fidelity Bank Plc, Sterling Financial Holdings Company Plc, and Mutual Benefits Assurance Plc were the three most traded equities by volume. Together, they recorded 1.23 billion shares worth N15.94 billion in 7,796 deals, representing 37.83 percent of total volume and 6.70 percent of total value.

On the gainers’ chart, UPDC Real Estate Investment Trust led with a 34.91 percent increase, rising from N13.75 to N18.55. Sovereign Trust Insurance Plc followed with a 30.95 percent gain from N1.68 to N2.20.

Mutual Benefits Assurance Plc appreciated by 22.03 percent to N3.60 from N2.95, while Nigerian Exchange Group Plc gained 21.55 percent to close at N179.90 from N148. First HoldCo Plc completed the top five with a 17.65 percent rise from N136 to N160.

For losers, Transcorp Power Plc led the decline, shedding 18.94 percent to N178 from N219.60. John Holt Plc dropped 18.89 percent to N7.30 from N9, while Ellah Lakes Plc fell 18.14 percent to N8.35 from N10.20.

LivingTrust Mortgage Bank Plc declined by 17.46 percent to N2.60 from N3.15, and Omatek Ventures Plc lost 12.41 percent to close at N1.20 from N1.37.