By Dipo Olowookere
Transactions at the Nigerian Exchange (NGX) Limited broadly fell last week as investors bought and sold 1.831 billion equities worth N19.494 billion in 21,723 deals in the five-day trading.
In the previous week, a total of 28.736 billion equities worth N209.060 billion exchanged hands in 23,688 deals. The high trading volume in the comparative week was influenced by an off-market deal in Union Bank, involving the purchase of over 27 billion shares of the lender by Titan Trust Bank for more than N190 billion.
Last week, the bourse did not witness a similar trade but the financial services sector maintained its position as the most active with the sale of 1.173 billion stocks valued at N12.485 billion in 10,657 deals, contributing 64.07 per cent and 64.04 per cent to the total trading volume and value respectively.
The conglomerates industry followed with 419.100 million shares worth N607.703 million in 1,095 deals, while the consumer goods counter occupied third place with 69.680 million shares worth N2.754 billion in 3,158 deals.
The most traded stocks in the week were FBN Holdings, Transcorp and UBA, which accounted for 1.136 billion units worth N8.323 billion in 2,906 deals, and contributed 62.08 per cent and 42.70 per cent to the total trading volume and value respectively.
A total of 29 equities appreciated in price last week compared with 36 equities of the previous week, 36 stocks shed weight as against 45 stocks of the earlier week, while 91 shares remained unchanged in contrast to 75 shares of the preceding week.
Global Spectrum Energy Services topped the gainers’ chart with a price appreciation of 10.00 per cent to trade at N2.75, Conoil rose by 9.97 per cent to N32.00, Fidson increased its value by 9.59 per cent to N12.00, University Press expanded by 9.43 per cent to N2.90, while Pharma-Deko appreciated by 9.37 per cent to N1.75.
Conversely, Industrial and Medical Gases ended the trading week on top of the losers’ log with a decline of 16.82 per cent to sell for N9.15, Ecobank lost 11.20 per cent to close at N11.10, MRS Oil shelled 9.76 per cent to quote at N14.80, eTranzact declined by 9.67 per cent to N2.70, while The Initiates depleted by 9.09 per cent to 40 kobo.
In the week, the All Share Index (ASI) and market capitalisation appreciated by 0.55 per cent to 53,201.38 points and N28.681 trillion respectively, while all other indices finished lower with the exception of the NGX 30, NGX CG, NGX Premium, NGX MERI Value, oil/gas, Lotus II and industrial goods indices which appreciated at 0.84 per cent, 0.01 per cent, 1.42 per cent, 0.32 per cent, 0.68 per cent, 1.62 per cent and 0.25 per cent, with the Asem index closing flat.
