Investors Stake N13.6bn on Equities in Five Days

By Dipo Olowookere

Last week, investors bought and sold equities valued at N13.6 billion on the floor of the Nigerian Exchange (NGX) Limited, Business Post is reporting.

According to data from the exchange, these shares were traded in 22,118 deals involving a total of 1.3 billion units. In the preceding week, the market participants traded 1.2 billion units worth N16.6 billion in 21,076 deals.

Analysis showed that financial stocks dominated the activity chart with 851.6 million units valued at N7.5 billion traded in 11,930 deals, contributing 66.07 per cent and 55.49 per cent to the total trading volume and value respectively.

It was trailed by conglomerates equities with 174.6 million units worth N569.0 million in 1,095 deals, and ICT shares with 77.6 million units worth N2.3 billion in 1,458 deals.

Fidelity Bank, Transcorp and Access Holdings were the most active stocks in the five-day trading week, with the sale of 426.6 million units valued at N1.8 billion in 3,307 deals, contributing 33.10 per cent and 13.12 per cent to the total trading volume and value respectively.

In the week, a total of 20 stocks appreciated in price compared with the 24 stocks of the preceding week, while 50 equities depreciated in price in contrast to the previous week’s 44 equities, with 86 shares closing flat as against the 88 shares of the earlier week.

Meyer ended the week as the best-performing stock, rising by 30.91 per cent to 72 kobo, Cornerstone Insurance gained 13.79 per cent to sell for 66 kobo, PZ Cussons rose by 13.44 per cent to N10.55, Axa Mansard Insurance increased by 11.63 per cent to N2.40, while Beta Glass expanded by 9.92 per cent to N58.20.

The worst-performing stock in the week was Berger Paints with a price decline of 18.00 per cent to sell for N6.15, Zenith Bank lost 16.73 per cent to trade at N22.40, Regency Assurance fell by 16.22 per cent to 31 kobo, Red Star Express depreciated by 14.29 per cent to N2.70, while UPDC dropped 13.64 per cent to sell for 76 kobo.

At the close of transactions, the All-Share Index (ASI) and the market capitalisation depreciated by 0.23 per cent and 0.26 per cent to 46,842.86 points and N25,253 trillion respectively.

Similarly, all other indices finished lower with the exception of the premium, Lotus II and sovereign bond indices which appreciated by 1.31 per cent, 1.38 per cent and 0.56 per cent respectively, while the Asem and growth indices closed flat.