The Financial Services Industry dominated trading activity, with an impressive 1.857 billion shares valued at N15.825 billion traded in 19,937 deals. This performance accounted for a substantial 65.82% of the total equity turnover volume and 29.83% of the value. Despite this dominance, the sector was conspicuously absent from both the Price Gainers and price Decliners charts, indicating that no listed banks or financial institutions experienced significant price movements during the trading session.
This lack of change has prompted market analysts to voice concerns, particularly in light of ongoing recapitalization exercises within the sector. The stagnation suggests that the recapitalization efforts may not have sufficiently impacted investor sentiment or stock performance, raising questions about the sector’s overall stability and future outlook.
In contrast, the Oil and Gas Industry followed with 288.807 million shares worth N11.302 billion traded across 9,365 deals. The Services Industry secured third place, with a turnover of 177.666 million shares valued at N437.174 million in 3,604 deals. The absence of movement among financial stocks highlights a critical issue as all major financial institutions failed to show significant trading activity, reflecting broader market challenges.
