N14b Stocks Exchange Hands in One Week as Index Sheds 2.64%

By Dipo Olowookere

A total turnover of 1.265 billion shares worth N14.074 billion in 19,278 deals were traded last week by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 1.647 billion shares valued at N8.413 billion that exchanged hands the previous week in 14,773 deals.

This was as the All-Share Index (ASI) and market capitalisation depreciated by 2.64 percent to close the week at 29,830.70 points and N11.124 trillion respectively.

Similarly, all other indices finished lower with the exception of the NSE Industrial Goods index that rose by 1.00 percent while the NSE ASeM index closed flat.

During the week, the Financial Services industry (measured by volume) led the activity chart with 1.072 billion shares valued at N8.795 billion traded in 12,287 deals, contributing 84.73 percent and 62.49 percent to the total equity turnover volume and value respectively.

The Conglomerates sector followed with 83.595 million shares worth N155.485 million in 750 deals, while the third place was Consumer Goods industry with a turnover of 50.537 million shares worth N3.432 billion in 2,576 deals.

Trading in the top three equities; Diamond Bank, FBN Holdings and Custodian Investment (measured by volume) accounted for 465.000 million shares worth N2.044 billion in 2,448 deals, contributing 36.75 percent and 14.53 percent to the total equity turnover volume and value respectively.

During the week, 22 equities appreciated in price, the same with 22 in the previous week, while 44 equities depreciated in price, lower than 45 of the previous week, and 103 equities remained unchanged, higher than 97 equities recorded in the preceding week.

Business Post reports that Julius Berger topped the gainers’ chart with 22.15 percent rise to close at N28.40k per share.

Diamond Bank followed with a growth of 12.22 percent to end at N2.02k per unit, and Transcorp, which gained 11.21k to settle at N1.29k per share.

WAPIC rose by 10 percent to finish at 44 kobo per unit, while Cornerstone Insurance also appreciated by 10 percent to finish at 22 kobo per share.

On the other side, NEM Insurance emerged the biggest price loser, going down by 33.46 percent to settle at N1.73k per share.

Resort Savings & Loans depreciated by 26 percent to end at 37 kobo per unit, while Unity Bank declined by 17 percent to close at 83 kobo per share.

Custodian Investment fell by 13.11 percent to close at N5.30k per share, while Flour Mills went down by 11.67 percent to settle at N19.30k per unit.

Also traded during the week were a total of 15,288 units of Exchange Traded Products (ETPs) valued at N236,445.40 executed in 4 deals compared with a total of 395 units valued at N816,344.70 that was transacted the previous week in 13 deals. In addition, a total of 17,996 units of Federal Government Bonds valued at N18.426 million were traded in the week in 10 deals compared with a total of 7,209 units valued at N6.958 million transacted a week earlier in 8 deals.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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