Investors bought and sold 1.183 billion stocks worth N28.868 billion in 42,397 deals on the floor of the Nigerian Exchange (NGX) Limited last week compared with the 7.521 billion stocks valued at N398.949 billion transacted a week earlier in 61,312 deals.
The bourse only opened for three trading days in the due to the public holiday declared by the Nigerian government on Monday, March 31, and Tuesday, April 1, 2025, to commemorate Eid el Fitr celebration after the one-month long Ramadan.
The market participants were mainly interested in financial stocks, especially as some of them churned out impressive financial performance in 2024, proposing dividends to shareholders.
Business Post reports that the sector led the activity chart in the three-day trading week with 906.590 million units sold for N18.926 billion in 22,876 deals, contributing 76.60 per cent and 65.56 per cent to the total trading volume and value, respectively.
The consumer goods shares recorded a turnover of 71.059 million units worth N 2.224 billion in 3,394 deals, and the services stocks traded 47.305 million units valued at N396.897 million in 2,132 deals.
The trio of Fidelity Bank, Zenith Bank, and Universal Insurance dominated the log with a turnover of 264.627 million shares worth N5.932 billion in 5,714 deals, contributing 22.36 per cent and 20.55 per cent to the total trading volume and value, respectively.
The biggest price gainer for the week was VFD Group with an appreciation of 20.76 per cent to N57.00, Union Dicon gained 19.59 per cent to finish at N5.80, Africa Prudential soared by 15.71 per cent to N15.10, NGX Group leapt by 11.90 per cent to N32.45, and UPDC REIT grew by 10.91 per cent to N6.10.
Conversely, UAC Nigeria lost 18.31 per cent to sell for N29.00, Sunu Assurances tripped by 13.38 per cent to N5.76, Universal Insurance depreciated by 13.33 per cent to 52 Kobo, Oando fell by 13.13 per cent to N42.00, and Consolidated Hallmark slipped by 12.85 per cent to N3.12.
At the close of trading in the week, 23 equities appreciated versus 43 equities in the previous week, 51 shares declined versus 36 shares a week earlier, and 73 stocks remained unchanged versus 71 stocks in the preceding week.
The All-Share Index (ASI) and the market capitalisation depreciated by 0.14 per cent and 0.17 per cent each to close the week at 105,511.89 points and N66.147 trillion, respectively.
In the same vein, all other indices closed lower except the corporate governance, banking, pension, AseM, AFR bank value, MERI value, sovereign bond and pension broad indices, which gained 0.13 per cent, 0.22 per cent, 0.22 per cent, 0.06 per cent, 1.02 per cent, 0.32 per cent, 0.12 per cent and 0.02 per cent, respectively while the commodity index closed flat.