November 15, (THEWILL) – Trading on the Nigerian Exchange Limited (NGX) recorded a significant increase in volume last week, as investors exchanged 8.029 billion shares valued at N185.358 billion in transactions, compared with 2.829 billion shares worth N208.407 billion traded in the previous week.
The figures represented a 183.8 percent increase in trading volume, although transaction value declined by 11.05 percent. The divergence indicated that substantially more shares changed hands during the week, but the aggregate value of transactions was lower than the preceding week’s turnover.
The Financial Services Industry led the activity chart, accounting for 4.854 billion shares valued at N95.790 billion. The sector contributed 60.45 percent of total equity turnover volume and 51.68 percent of turnover value, maintaining its position as the most active segment of the market.
The Agriculture Industry followed with 2.243 billion shares worth N22.777 billion, while the Consumer Goods Industry occupied third place, recording a turnover of 260.996 million shares valued at N11.887 billion.
Trading in the three most active equities by volume Linkage Assurance Plc, Livestock Feeds Plc and First HoldCo Plc accounted for 5.831 billion shares valued at N76.060 billion. Their combined activity represented 72.63 percent of total equity turnover volume and 41.03 percent of transaction value, highlighting the concentration of trading in a small number of stocks.
The broader market closed higher, with the NGX All-Share Index (ASI) appreciating by 1.36 percent to 252,269.16 points. Market capitalisation also increased by 1.36 percent to N163.796 trillion, compared with N161.594 trillion recorded at the end of the previous week. This represented an increase of approximately N2.202 trillion in the total value of listed equities.
The positive performance followed the previous week’s decline, when the benchmark index lost 2.13 percent. The latest recovery suggests an improvement in overall market performance, although the decline in transaction value indicates that the increase in trading volume did not translate into higher aggregate equity turnover.
Most sectoral indices also closed higher during the week. However, the NGX Main Board, NGX Banking, NGX AFR Bank Value, NGX MERI Growth, NGX Consumer Goods and NGX Growth indices recorded declines of 0.06 percent, 0.21 percent, 0.49 percent, 0.13 percent, 0.55 percent and 1.92 percent, respectively.
Market breadth improved considerably, with 43 equities appreciating in price, compared with 29 in the previous week. Thirty-nine equities depreciated, lower than the 57 recorded previously, while 64 equities remained unchanged, compared with 60 in the preceding week. The increase in gainers and reduction in decliners reflected stronger positive participation across the Exchange.
Top Gainers
- Champion Breweries Plc advanced by 27.27 percent (N8.80 to N11.20).
- Caverton Offshore Support Group Plc gained 20.55 percent (N3.65 to N4.40).
- AXA Mansard Insurance Plc appreciated by 16.10 percent (N11.80 to N13.70).
- Oando Plc rose by 14.80 percent (N33.10 to N38.00).
- Veritas Kapital Assurance Plc gained 14.74 percent (N0.95 to N1.09).
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Top Decliners
- LivingTrust Mortgage Bank Plc fell by 18.53 percent (N2.86 to N2.33).
- Thomas Wyatt Nigeria Plc declined by 12.31 percent (N2.60 to N2.28).
- The Okomu Oil Palm Company Plc shed 10.90 percent (N1,276.20 to N1,137.10).
- Nigerian Aviation Handling Company Plc lost 9.99 percent (N151.20 to N136.10).
- Nigerian Enamelware Plc declined by 9.96 percent (N36.65 to N33.00).
Champion Breweries led the gainers, appreciating by 27.27 percent, while Caverton Offshore Support Group followed with a 20.55 percent increase. AXA Mansard Insurance, Oando and Veritas Kapital Assurance also recorded double-digit gains, reflecting strong price appreciation in selected equities.
On the losing side, LivingTrust Mortgage Bank recorded the steepest decline, shedding 18.53 percent. Thomas Wyatt Nigeria followed with a 12.31 percent loss, while Okomu Oil Palm, Nigerian Aviation Handling Company and Nigerian Enamelware also recorded notable declines.
Activity in the bond market weakened significantly during the week. A total of 156,612 units valued at N177.879 million were traded, compared with 21.993 million units worth N20.601 billion in the previous week. This represented a sharp decline of approximately 99.3 percent in trading volume and 99.1 percent in transaction value.
The week’s performance reflected a recovery in equity prices and improved market breadth, alongside a substantial increase in share volume traded. However, the decline in equity transaction value and the sharp contraction in bond-market activity showed that the improvement was not uniform across all segments of the Exchange.
Investors will be watching whether the stronger market breadth and gains in the benchmark index can be sustained in the coming week, particularly as trading activity remains concentrated in a relatively small number of equities.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.