Access Holdings Plc, Zenith Bank Plc and United Bank for Africa Plc dominated trading activity on the Nigerian Exchange Limited (NGX) last week, accounting for N50.52 billion worth of transactions.
The three banking stocks recorded a combined turnover of 1.020 billion shares in 29,382 deals during the week ended October 9, 2026.
Their combined activity represented 37.56 percent of the 2.715 billion shares traded across the equities market during the week.
By value, Access Holdings, Zenith Bank and UBA accounted for 31.92 percent of the N158.280 billion invested in equities during the five trading sessions.
The figures mean that almost N1 out of every N3 traded on the NGX during the week was concentrated in the three banking stocks, highlighting the significant role of financial stocks in driving market liquidity.
The concentration extended beyond the three companies.
Financial Services emerged as the most active sector by volume, recording 2.005 billion shares worth N82.924 billion across 94,483 deals.
The sector alone accounted for 73.84 percent of total equity trading volume and 52.39 percent of transaction value.
This means nearly three-quarters of all shares traded on the NGX during the week were financial-services stocks, while more than half of the money committed to equities flowed through the sector.
Consumer Goods was a distant second with 152.345 million shares worth N11.425 billion across 20,926 deals, while the ICT sector recorded 117.296 million shares valued at N15.256 billion in 22,556 deals.
Overall market turnover declined by volume during the week despite an increase in the amount of money traded.
Investors exchanged 2.715 billion shares worth N158.280 billion in 209,986 deals, compared with 3.166 billion shares valued at N155.023 billion across 206,662 deals in the preceding week.
This represented a 14.2 percent decline in trading volume, while transaction value increased by approximately 2.1 percent.
The heavy trading in Access Holdings, Zenith Bank and UBA came despite weakness in banking stocks during the week.
The NGX Banking Index declined 2.64 percent, from 2,685.71 points to 2,614.79 points. The index was also down 3.59 percent month-to-date as of the end of the week.
The broader NGX All-Share Index fell 0.97 percent to 248,363.55 points, while market capitalisation closed at N161.260 trillion.
Despite the weaker market, Access Holdings, Zenith Bank and UBA remained at the centre of trading activity, with their combined N50.52 billion turnover accounting for almost one-third of the entire value traded on the NGX during the week.