NGX Investors Trade N130bn Shares As Market Capitalisation Falls

• Investors traded 3.647 billion shares worth N130.151 billion on the Nigerian Exchange Limited during the week, down from N210.331 billion the previous week
• Financial Services dominated trading activity, accounting for nearly 80% of total equity turnover volume across 106,662 deals
• The NGX All-Share Index closed the week at 243,052.74 points, with 80 equities recording price declines compared to just nine gainers

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The NGX All-Share Index and market capitalisation depreciated by 1.60% and 1.24% respectively, closing the week at 243,052.74 points and N157.587 trillion.

This came as investors traded a total turnover of 3.647 billion shares valued at N130.151 billion in 244,777 deals on the floor of the Nigerian Exchange (NGX).

The latest trading activity was lower than the previous week when 4.360 billion shares worth N210.331 billion were exchanged in 223,284 deals.

The Financial Services industry, measured by volume, led trading activity, with 2.909 billion shares valued at N56.668 billion exchanged in 106,662 deals.

The sector accounted for 79.76% of total equity turnover volume and 43.54% of total equity turnover value during the week.

The Services industry followed, recording 153.122 million shares worth N2.331 billion traded in 15,850 deals.

The Consumer Goods industry ranked third, with a turnover of 116.656 million shares valued at N11.035 billion in 26,487 deals.

Trading in the top three equities by volume, Fortis Global Insurance Plc, Mutual Benefits Assurance Plc and Sterling Financial Holdings Company Plc, accounted for 1.544 billion shares worth N4.067 billion in 3,017 deals.

The three equities represented 42.33% of total equity turnover volume and 3.12% of total equity turnover value.

Market breadth turns negative

Market breadth weakened significantly during the week, with only nine equities recording price appreciation compared with 56 gainers in the previous week.

Eighty equities declined in price, up from 35 decliners recorded in the previous week.

Meanwhile, 58 equities remained unchanged, compared with 56 equities that recorded no price movement in the previous week.

Top price gainers

• Nigerian Exchange Group Plc: N130.00 to N148.00 (+N18.00, 13.85%)
• Ellah Lakes Plc: N9.00 to N10.20 (+N1.20, 13.33%)
• Seplat Energy Plc: N13,552.60 to N14,907.80 (+N1,355.20, 10.00%)
• E-Tranzact International Plc: N12.30 to N13.00 (+N0.70, 5.69%)
• Ikeja Hotel Plc: N42.55 to N44.50 (+N1.95, 4.58%)
• Learn Africa Plc: N8.65 to N9.00 (+N0.35, 4.05%)
• Wema Bank Plc: N29.60 to N30.40 (+N0.80, 2.70%)
• Consolidated Hallmark Holdings Plc: N6.42 to N6.50 (+N0.08, 1.25%)
• International Breweries Plc: N9.95 to N10.00 (+N0.05, 0.50%)

Top price decliners

• Fortis Global Insurance Plc: N2.00 to N1.45 (-N0.55, -27.50%)
• Critical Minerals Financing Corp Plc: N2.64 to N2.00 (-N0.64, -24.24%)
• Austin Laz & Company Plc: N2.50 to N1.99 (-N0.51, -20.40%)
• Omatek Ventures Plc: N1.70 to N1.37 (-N0.33, -19.41%)
• Royal Exchange Plc: N1.10 to N0.90 (-N0.20, -18.18%)
• R. T. Briscoe (Nigeria) Plc: N9.90 to N8.10 (-N1.80, -18.18%)
• Ava Capital Plc: N6.20 to N5.10 (-N1.10, -17.74%)
• Champion Breweries Plc: N11.95 to N10.00 (-N1.95, -16.32%)
• McNichols Consolidated Plc: N5.25 to N4.45 (-N0.80, -15.24%)
• Sunu Assurances Nigeria Plc: N3.29 to N2.80 (-N0.49, -14.89%)

Dangote Refinery IPO: Steps to buy shares

Earlier, Legit.ng reported that the Dangote Petroleum Refinery and Petrochemicals FZE initial public offering is now live, clearing the way for Nigerians and other eligible investors to buy into one of Africa's biggest industrial projects.

The regulator approved the offer of 4.1 billion ordinary shares at N525 each, a transaction that could raise roughly N2.15 trillion if fully subscribed.

The SEC also registered the refinery's existing 120.13 billion ordinary shares.