NGX Trading Value Rebounds 66% to N37.46 Billion Despite Further Drop in Deals
Trading value on the Nigerian Exchange (NGX) rebounded by 65.7% to N37.46 billion on Wednesday even as the number of deals executed during the session declined further.
Investors traded 552.31 million shares worth N37.46 billion across 33,047 deals on November 4, compared with 525.44 million shares valued at N22.61 billion in 39,078 deals in the previous trading session.
While trading value increased by N14.85 billion, volume rose by 5.1%. However, the number of deals declined by 15.4%, showing that the recovery in turnover was driven by larger transactions rather than an increase in the number of trades.
The Nigerian equities market also closed higher with the NGX All-Share Index advancing by 0.19% to 254,762.81 from 254,289.35. Equities market capitalisation increased by approximately N307.41 billion to N165.415 trillion.
Trading activity was heavily concentrated in a handful of stocks, led by First HoldCo, which recorded 125.21 million shares valued at N12.67 billion.
First HoldCo alone accounted for approximately 22.7% of the total shares traded and 33.8% of the N37.46 billion market turnover.
Access Holdings followed with 53.69 million shares valued at N1.45 billion, while GTCO recorded 38.72 million shares worth N4.69 billion.
NGX Group posted 36.36 million shares valued at N5.98 billion, while Zenith Bank recorded 29.67 million shares worth N3.56 billion.
Together, the five most actively traded equities accounted for approximately N28.36 billion, or 75.7% of the total value of transactions executed during the session.
The concentration shows that Wednesday’s rebound in market turnover was largely driven by heavy trading in a relatively small group of stocks rather than a broad increase in transaction activity.
Transcorp Power led the gainers after rising 9.97% from N184.60 to N203, while Caverton Offshore Support Group rebounded 9.84% to N3.35.
eTranzact International gained 9.68% to N17, Haldane McCall advanced 7.36% to N3.50, while International Energy Insurance appreciated 7.27% to N1.77.
On the losers’ table, Eterna declined 9.94% to N38.50, Sovereign Trust Insurance fell 9.91% to N1.91 and Learn Africa dropped 9.84% to N8.25.
The latest session marked a sharp turnaround in trading value after turnover had plunged 52.4% to N22.61 billion on Tuesday.
However, the continued decline in deals suggests overall transaction frequency remained subdued even as larger trades lifted both volume and market turnover.
