The week-on-week trading volume on the Nigerian Exchange (NGX) Limited contracted by 38 per cent amid profit-taking by investors as a result of cautious trading.
Data from Customs Street showed that in the five-day trading week, market participants transacted 3.075 billion shares worth N254.614 billion in 287,157 deals, in contrast to the 4.964 billion shares valued at N207.521 billion traded in 235,966 deals in the preceding week.
Analysis showed that financial equities led the activity chart, with 2.074 billion units sold for N64.490 billion in 121,981 deals, contributing 67.44 per cent and 25.33 per cent to the total trading volume and value, respectively.
Services stocks recorded a turnover of 175.743 million units worth N2.759 billion in 19,590 deals, while consumer goods shares exchanged 133.375 million units valued at N12.680 billion in 30,730 deals.
Access Holdings, Sterling Holdings, and Jaiz Bank accounted for 819.234 million shares worth N12.247 billion in 21,809 deals, contributing 26.64 per cent and 4.81 per cent to the total trading volume and value, respectively.
In the week, 11 equities gained weight versus 40 equities a week earlier, 78 shares lost weight versus 53 shares in the previous week, and 57 stocks closed flat versus 53 stocks of the preceding week.
Cornerstone Insurance chalked up 11.01 per cent to sell for N6.05, Academy Press rose by 8.72 per cent to N8.10, Conoil improved by 8.25 per cent to N210.00, Neimeth expanded by 4.68 per cent to N8.95, and Ikeja Hotel grew by 3.36 per cent to N44.60.
On the flip side, International Energy Insurance shed 28.83 per cent to trade at N5.06, First Holdco lost 20.29 per cent to finish at N55.00, John Holt slipped by 17.65 per cent to N11.20, NAHCO depreciated by 17.27 per cent to N148.50, and Zichis dropped 16.13 per cent to settle at N26.00.
Business Post reports that the All-Share Index (ASI) and the market capitalisation depreciated by 3.59 per cent to close the week at 235,941.27 points and N151.327 trillion, respectively. Also, all other indices finished lower except the sovereign bond index, which remained unchanged.
