Activity on the Nigerian Exchange Limited (NGX) slowed noticeably during the trading week ending Friday, June 13, as the bourse recorded a significant drop in volume and value of traded equities.
The market saw a total turnover of 2.05 billion shares worth N51.01 billion exchanged in 60,016 deals, representing a steep decline from the previous week’s figures of 3.2 billion shares valued at N76.3 billion in 61,312 deals.
The drop in activity, according to the NGX’s weekly market report, represents a 33.15% decline in turnover and was largely attributed to the shortened trading week following the federal government’s declaration of June 9 and June 13 as public holidays for Eid el-Kabir and Democracy Day, respectively.
Despite the quieter trading floor, the financial services industry maintained its stronghold at the top of the trading chart. Investors in this sector accounted for over half of the week’s market activity, with 1.06 billion shares valued at N26.37 billion traded across 27,201 deals. This sector alone contributed 51.55% and 51.69% to total equity turnover volume and value, respectively.
Trailing behind was the services industry, with 490.28 million shares worth N1.59 billion exchanged in 3,865 deals. The consumer goods sector secured third place with a total of 122.80 million shares valued at N5.84 billion traded in 7,638 transactions.
Top Movers: Tantalizer, Access Holdings, and Zenith Bank Lead by Volume
Among the most actively traded equities were Tantalizer Plc, Access Holdings Plc, and Zenith Bank Plc. Together, the trio accounted for 693.55 million shares worth N9.96 billion, representing 33.72% of the total weekly turnover volume and 19.52% of the total value.
Winners’ Circle: Oando, Fidson Healthcare Among Top Gainers
In terms of stock performance, several equities bucked the quiet market trend with notable gains. Leading the pack was Legend Internet Plc, whose share price jumped from N5.34 to N7.09—a gain of N1.75. Berger Paints saw a significant rise from N20.50 to N26.80, adding N6.30 per share.
Ellah Lakes Plc added N0.93 to end the week at N4.33, while Oando Plc saw its share price surge by N12.15 to close at N69.00, driven by renewed investor confidence. Fidson Healthcare Plc also impressed, gaining N6.60 to finish at N38.40.
Red Zone: Flour Mills, Conoil Lead Decliners
However, the market wasn’t without its laggards. John Holt Plc dropped by N1.40 to close at N6.20. Industrial & Medical Gases Nigeria saw its value fall by N4.50 to N32.50, and R.T. Briscoe shares declined by 10%, shedding N0.25 to close at N2.25.
In a more significant downturn, N.Nig Flour Mills lost N12.50 to close at N112.55, while Conoil Plc suffered the steepest single-stock decline of the week, losing N26.80 to end at N241.50.
As markets resume full operations in the coming week, analysts anticipate a potential rebound in trading activity as institutional and retail investors recalibrate positions post-holiday. Nonetheless, global cues, domestic economic policies, and sector-specific news are expected to shape investor sentiment moving forward.
WHAT YOU SHOULD KNOW
Trading activity on the Nigerian Exchange slowed sharply last week, with turnover dropping by over 33% due to the Eid el-Kabir and Democracy Day holidays. Despite the lull, the financial services sector led trading, while stocks like Oando and Berger Paints saw strong gains.
However, notable losses hit companies like Conoil and Northern Nigeria Flour Mills. The key takeaway: reduced trading days significantly impacted market performance.
