VFD Group Plc dominated trading activity on the Nigerian Exchange Limited (NGX) as investors exchanged 367.32 million shares valued at N4.86 billion during the opening trading session of October.
The financial services company’s shares accounted for approximately 35.5 percent of the 1.035 billion shares traded across the equities market, making VFD Group the most actively traded stock by volume during the session.
The heavy activity in VFD Group came as overall trading volume surged by approximately 88.7 percent, rising from 548.67 million shares in the preceding session to 1.035 billion shares.
The value of transactions across the market also increased by about 56.4 percent from N34.30 billion to N53.64 billion, despite the number of deals declining from 47,301 to 44,469.
UAC of Nigeria followed VFD Group on the activity chart with 158.18 million shares, although its N21.51 billion turnover made it the biggest contributor to total trading value.
Abbey Mortgage Bank recorded 72.43 million shares worth N507.11 million, while Chams traded 63.89 million shares valued at N199.82 million.
GTCO completed the five most actively traded equities with 39.55 million shares valued at N5.27 billion.
Combined, the five stocks accounted for approximately 701.38 million shares, representing about 67.7 percent of the entire market volume for the session.
VFD Group alone contributed more than half of the trading volume generated by the five most active equities, underscoring the concentration of activity in the stock.
The surge in trading volume came despite weakness in the broader equities market.
The NGX All-Share Index declined 0.28 percent to 251,211.67 points, while equity market capitalisation fell by N425.73 billion to N163.10 trillion.
The session therefore opened October with substantially higher trading activity even as the broader market closed lower.