Trading value on the Nigerian Exchange (NGX) plunged by 52.4% to N22.61 billion on Tuesday as the number of deals executed during the session dropped by 27.7%.
Investors traded 525.44 million shares worth N22.61 billion across 39,078 deals on November 3, compared with 517.26 million shares valued at N47.48 billion in 54,015 deals in the previous trading session.
Despite the sharp decline in trading value and deals, the volume of shares exchanged increased by 1.6%, suggesting that Tuesday’s activity was concentrated more heavily in lower-priced equities.
The NGX All-Share Index edged higher by 0.02% to 254,289.35 from 254,245.21 recorded on Monday, while the equities market capitalisation increased to N165.108 trillion from N165.079 trillion.
Zichis emerged as the most actively traded stock by volume, accounting for 127.48 million shares valued at N2.17 billion. The stock alone represented approximately 24.3% of the total shares traded during the session.
Access Holdings followed with 42.59 million shares valued at N1.13 billion, while Chams traded 25.42 million shares worth N80.19 million.
VFD Group recorded 23.24 million shares valued at N289.94 million, while International Energy Insurance completed the five most actively traded equities with 19.46 million shares worth N33.64 million.
On the gainers’ table, University Press Limited advanced by 9.52% from N4.20 to N4.60, while Omatek Ventures gained 8.59% to settle at N1.39.
International Breweries appreciated by 6.47% from N8.50 to N9.05.
On the other side of the market, Fortis Global Insurance led the equity decliners with a 10% drop from N1.70 to N1.53.
Vitafoam declined by 9.99% to N141.50, extending its decline from the previous session, while UPDC Real Estate Investment Trust dropped 9.95% from N21.10 to N19.
Abbey Mortgage Bank fell 8.73% to N5.75, while Caverton Offshore Support Group declined 7.58% from N3.30 to N3.05.
The combination of a marginally higher market index and increased share volume against sharply lower transaction value showed that Tuesday’s session was driven by substantial trading in lower-priced equities rather than an increase in overall market turnover.
The NGX closed the session with an equities market capitalisation of N165.108 trillion.