The NGX recorded a cumulative turnover of N500.76 billion in the week ending July 18. This marks the highest ever turnover recorded on the NGX within a week.
During the four trading days, the market recorded a cumulative trading volume of 17.498 billion shares.
The bulk of the trading activity came from the N323.45 billion First Holdco off-market deal. In that transaction, long-time shareholders Oba Otudeko and Tunde Hassan-Odukale sold off their stake in First Bank. Approximately 65 percent of the trading value that week came from the deal that saw 25 percent of First Holdco exchanged hands on July 16.