Trading on the Nigerian Exchange Limited (NGX) saw a dramatic 93% decline over a three-day period in early April, according to the latest market report.
Investors traded just 1.18 billion shares valued at N28.87 billion across 42,397 deals between April 2 and April 4. This represents a significant drop from the previous week's activity, which saw 7.5 billion shares worth N398.95 billion changing hands in 61,312 deals.
The sharp decline coincides with the shortened trading week following the federal government's declaration of March 31 and April 1 as public holidays for the 2025 Eid el Fitr celebration.
Financial Services Sector Dominates Trading
The financial services industry maintained its position as market leader, accounting for:
- 76.6% of total equity turnover volume
- 65.56% of total value
- 906.59 million shares traded worth N18.926 billion across 22,876 deals
The consumer goods industry ranked second with 71.059 million shares valued at N2.224 billion in 3,394 deals, while the services industry took third place with 47.305 million shares worth N396.897 million across 2,132 deals.
Three equities—Fidelity Bank Plc, Zenith Bank Plc, and Universal Insurance Plc—were the most actively traded stocks, contributing 22.36% of volume and 20.55% of value to total equity turnover.
Market Movers: Top Gainers and Decliners
Top Gainers
- VFD Group Plc: Gained N9.8 kobo to close at N57 per share
- Nigeria Exchange Group: Rose by N3.45 kobo to N32.45 kobo
- Africa Prudential Plc: Increased by N2.05 kobo to N15.1 kobo
- Union Dicon Salt Plc: Added N0.95 kobo to reach N5.8 kobo
- UPDC Real Estate Investment Trust: Appreciated by N0.6 kobo to N6.1 kobo
Top Decliners
- UACN Plc: Lost N6.5 kobo to settle at N29
- Oando Plc: Fell by N6.35 kobo to N42 per share
- Sunu Assurances Nigeria Plc: Declined by N0.89 kobo to N5.76 kobo
- Consolidated Hallmark Holdings: Dropped 12.85% to N3.12 kobo
- Universal Insurance Plc: Decreased by 13.33% to N0.52 kobo
The trading slowdown highlights the impact of public holidays on market activity, with overall performance indicating cautious investor sentiment following the Eid celebration.