The value of shares traded on the Nigerian Exchange (NGX) rose 16 percent to N58.35 billion on Friday, even as trading volume declined by nearly 28 percent.
Investors exchanged 708.85 million shares worth N58.35 billion in 42,496 deals, compared with 978.29 million shares valued at N50.16 billion in 48,558 transactions during the previous session.
This means trading value increased by approximately N8.18 billion, or 16.3 percent despite the number of shares changing hands falling by about 269.43 million shares, or 27.5 percent.
The number of deals also declined by 6,062 transactions, or 12.5 percent from 48,558 on Thursday to 42,496 on Friday.
The divergence between value and volume indicates that Friday’s transactions carried a substantially higher average value per share than those recorded during the previous session.
Based on aggregate market turnover, the average value per share traded increased from approximately N51.28 on Thursday to N82.31 on Friday, representing an increase of about 60 percent.
Fidelity Bank remained the most actively traded equity by volume with 212.77 million shares valued at N4.49 billion changing hands during the session.
The lender alone accounted for approximately 30 percent of the entire 708.85 million shares traded on Friday.
Access Holdings followed with 72.60 million shares worth N2.25 billion, while Transcorp recorded 65.74 million shares valued at N2.43 billion.
Chams traded 33.27 million shares worth N109.52 million, while UBA recorded 23.14 million shares valued at N1.04 billion.
Together, the five most active equities accounted for approximately 407.52 million shares, or 57.5 percent of total market volume.
Despite the increase in transaction value, the broader equities market closed marginally lower.
The NGX All-Share Index declined 36.60 points, or approximately 0.015 percent, to 252,113.41 points, from 252,150.01 points in the previous session.
Equity market capitalisation also declined by approximately N23.77 billion to N163.66 trillion from N163.68 trillion on Thursday.
TotalEnergies Marketing Nigeria led the decliners after falling 10 percent from N576 to N518.40, while Legend Internet dropped 9.09 percent to N3.50.
On the gainers’ table, Zichis advanced 10 percent to N17.60, Critical Minerals Financing Corporation gained 9.76 percent to N3.26 and RT Briscoe appreciated 9.74 percent to N10.70.
Friday’s trading therefore ended with higher monetary turnover despite substantially fewer shares and fewer transactions as trading value climbed to N58.35 billion while volume contracted to 708.85 million shares.
