By Taiye Olayemi

Trading activity on the Nigerian equities market surged during the week ended Aug. 14, with investors exchanging 12.153 billion shares worth N176.058 billion in 224,146 transactions, even as profit-taking pushed the broader market lower.

The volume of shares traded jumped by 126.8 per cent from the 5.359 billion shares recorded in the previous week, while turnover value increased by 26.6 per cent from N139.053 billion.

Despite the stronger value and volume of transactions, the number of deals fell by about 14.4 per cent, from 261,869 to 224,146.

The increased activity lifted market depth to 27.76 per cent, compared with 21.67 per cent in the preceding week, while average daily value traded rose to N35.21 billion, up from N27.81 billion.

The Financial Services Industry remained the dominant force in the market, accounting for 11.212 billion shares valued at N88.991 billion in 102,246 deals.

The sector contributed 92.25 per cent of total equity turnover by volume and 50.55 per cent by value.

The Information and Communication Technology Industry followed with 246.127 million shares worth N51.605 billion traded in 27,169 deals, while the Services Industry ranked third with 198.195 million shares valued at N1.995 billion in 13,747 transactions.

Trading was heavily concentrated in three stocks — Fortis Global Insurance Plc, Cornerstone Insurance Plc and Consolidated Hallmark Holdings Plc — which jointly accounted for 9.488 billion shares valued at N36.219 billion across 1,781 deals.

The three equities alone represented 78.07 per cent of total equity turnover by volume and 20.57 per cent by value, highlighting the extent to which activity was concentrated in a relatively small number of stocks.

However, the surge in trading did not translate into broader market gains, as investors appeared to lock in profits following the market’s strong run in recent months.

The NGX All-Share Index declined by 1.20 per cent to 242,619.20 points, while market capitalisation fell by 1.19 per cent to N156.624 trillion.

Market breadth showed some improvement despite the overall decline. The number of gainers remained unchanged at 26, while declining equities fell to 59 from 63 in the previous week. Sixty-two equities closed unchanged, compared with 58 previously.

Trans-Nationwide Express Plc emerged as the week’s biggest gainer, advancing 32.09 per cent, followed by International Energy Insurance Plc, which gained 31.68 per cent, and Sovereign Trust Insurance Plc, up 13.77 per cent.

On the losers’ chart, AVA Capital Plc recorded the steepest decline, shedding 34.55 per cent. Unilever Nigeria Plc fell 18.94 per cent, while Zichis Agro Allied Industries Plc declined by 15.08 per cent.

Meanwhile, Lasaco Assurance Plc expanded its share capital following the listing of 9.236 billion additional ordinary shares on the NGX Daily Official List on Aug. 12.

The additional shares resulted from the company’s rights issue, which offered five new ordinary shares for every six existing shares held as of Feb. 20, 2026.

Following the listing, Lasaco Assurance’s issued and fully paid-up share capital increased from 11.084 billion shares to 20.320 billion ordinary shares of 50 kobo each.

Despite the weekly correction, the equities market remains firmly in positive territory on a year-to-date basis.

The NGX All-Share Index had delivered a 55.91 per cent year-to-date return as of Aug. 14, indicating that the latest decline represents a moderation after substantial gains rather than a reversal of the market’s broader upward trend.

Sectoral performance has been particularly strong in key segments, with the NGX Oil and Gas Index leading the year’s gains at 94.81 per cent, followed by the NGX Premium Index at 85.14 per cent and the NGX Industrial Goods Index at 82.84 per cent.

The figures suggest that while investors took profits during the week, strong year-to-date gains and elevated trading volumes continue to underscore the resilience of the Nigerian equities market.