22 Stocks Rise, 49 Equities Fall in One Week on NGX

By Dipo Olowookere

Last week on the floor of the Nigerian Exchange (NGX) Limited, a total of 22 stocks appreciated in price, lower than 44 stocks in the previous week, while 49 equities depreciated in price, higher than 22 equities in the preceding week, with 85 equities closing flat, lower than 90 equities of the earlier week.

According to data from the exchange, Seplat recorded the highest price increment as its value moved up by 20.25 per cent to N1034.00.

Linkage Assurance appreciated by 1600 per cent to 58 kobo, FCMB rose by 11.80 per cent to N3.41, Courteville improved by 11.11 per cent to 60 kobo, while ABC Transport went up by 9.37 per cent to 35 kobo.

In the five-day trading week, RT Briscoe finished as the heaviest price decliner as its value shrank by 32.98 per cent to 63 kobo.

Learn Africa declined by 24.14 per cent to N1.98, NGX Group lost 18.43 per cent to trade at N20.80, Niger Insurance fell by 17.86 per cent to 23 kobo, while Cutix dropped 14.81 per cent to N2.30.

At the close of transactions for the week, the All-Share Index (ASI) and market capitalisation depreciated by 0.13 per cent to 47,268.61 points and N25,475 trillion respectively.

Similarly, all other indices finished lower with the exception of the premium, AseM, Meri Growth, oil/gas and sovereign bond indices.

Investors traded 1.4 billion shares worth N23.8 billion in 28,809 deals in contrast to the 1.7 billion shares worth N19.5 billion transacted in 25,979 deals a week earlier.

The financial services sector led the activity chart with 889.5 million units valued at N8.0 billion traded in 14,034 deals, contributing 64.74 per cent and 33.78 per cent to the total trading volume and value respectively.

The conglomerates industry followed with 131.2 million units worth N199.272 million in 1,259 deals, while the third place was the ICT sector with 89.8 million units worth N10.6 billion in 2,119 deals.

FCMB, Transcorp and Zenith Bank were the busiest equities with a turnover of 416.7 million units valued at N3.0 traded in 3,321 deals, contributing 30.32 per cent and 12.57 per cent to the total equity turnover volume and value respectively.