In the trading week concluded on November 1, the Nigerian Exchange Limited (NGX) reported a 2.03% decrease in the All-Share Index (ASI), closing at 97,432.02 points, with the market capitalization also falling to N59.039 trillion.
The week saw a decline in equity performance, with 39 stocks appreciating in value, down from 58 in the previous week. In contrast, 45 stocks depreciated, significantly higher than the 18 recorded previously, while 68 equities remained unchanged, compared to 76 the week before.
Most market indices ended lower, except for the NGX Banking, NGX AFR Bank Value, NGX AFR Div Yield, NGX MERI Growth, NGX MERI Value, NGX Oil & Gas, and NGX Growth indices, which recorded gains of up to 1.76%.
Fidelity Bank Plc, Chams Holding Company Plc, and United Bank for Africa Plc led trading activity, accounting for a combined 1.225 billion shares worth N17.721 billion, representing 45.10% of total equity turnover by volume and 32.44% by value.
Overall, the market saw total turnover of 2.717 billion shares valued at N54.632 billion across 46,848 deals, compared to the previous week’s 2.142 billion shares worth N85.946 billion in 41,217 deals.
The Financial Services sector dominated trading, with 1.821 billion shares valued at N28.958 billion exchanged, contributing 67.01% of total volume and 53.01% of total value. The ICT sector followed with 389.848 million shares worth N6.560 billion, while the Conglomerates sector traded 160.993 million shares valued at N4.746 billion.