NGX Trading Value Drops 61% to N38 Billion After Friday’s N96.9 Billion Surge

Trading value on the Nigerian Exchange (NGX) dropped by about 61 percent to N38.06 billion on Monday, September 21, as the market returned to more moderate turnover following the exceptional N96.89 billion recorded in the previous session.

Investors exchanged 574.19 million shares worth N38.06 billion in 68,655 deals on Monday, compared with 525.99 million shares valued at N96.89 billion in 44,240 deals on Friday, September 18.

The figures show a sharp divergence in market activity.

While transaction value declined by approximately 60.7 percent, trading volume increased by about 9.2 percent, while the number of deals jumped 55.2 percent.

This means investors executed substantially more transactions and exchanged more shares on Monday, but the monetary value of those transactions was considerably lower than Friday’s unusually high turnover.

The contrast reinforces the exceptional nature of Friday’s session, when N96.89 billion worth of equities changed hands despite only 525.99 million shares being traded.

Friday alone accounted for approximately 40.7 percent of the N237.99 billion equity turnover recorded for the entire previous week.

On Monday, trading activity returned to a pattern in which relatively high share volume was accompanied by a much lower aggregate transaction value.

Based on total market turnover, the average value per share traded fell from approximately N184 on Friday to N66 on Monday. The calculation does not represent the average price of stocks on the exchange, but illustrates the difference in the monetary composition of trading between the two sessions.

Despite the decline in overall transaction value, significant liquidity remained concentrated in banking stocks.

Zenith Bank Plc recorded 77.07 million shares worth N9.90 billion, accounting for approximately 26 percent of Monday’s total equity turnover by value.

Guaranty Trust Holding Company Plc (GTCO) recorded another 25.86 million shares valued at N3.41 billion.

Together, Zenith Bank and GTCO generated approximately N13.31 billion, representing about 35 percent of the N38.06 billion traded across the equities market.

Mutual Benefits Assurance recorded 53.58 million shares worth N205.59 million, while Sterling Financial Holdings Company traded 44.23 million shares valued at N339.33 million.

AIICO Insurance recorded 24.38 million shares worth N91.92 million.

The five most actively traded equities—Zenith Bank, Mutual Benefits, Sterling Financial Holdings, GTCO and AIICO—accounted for approximately 225.13 million shares, equivalent to 39.2 percent of total market volume.

The lower transaction value did not prevent the equities market from extending its advance.

The NGX All-Share Index gained 0.14 percent to 250,156.80 points, crossing the 250,000-point threshold, while equity market capitalisation increased by approximately N228 billion to N162.385 trillion.

Monday’s trading pattern suggests that the sharp decline in turnover was driven less by a retreat in overall participation than by a change in the composition and monetary size of transactions, with both share volume and the number of executed deals exceeding Friday’s levels despite the 61 percent drop in value.