Japaul, 35 Others Lead Stock Market to 0.70% Weekly Loss

By Dipo Olowookere

A total of 36 equities led by Japaul pushed the Nigerian Exchange (NGX) Limited to a 0.70 per cent weekly loss last week, with the All-Share Index and the market capitalisation depreciating to 49,695.12 points and N26.805 trillion respectively.

Similarly, all other indices finished lower with the exception of the insurance, NGX MERI Value, and the consumer goods indices, which appreciated by 1.04 per cent, 0.87 per cent and 0.72 per cent respectively, while the ASeM index closed flat.

The share price of Japaul fell last week by 12.12 per cent to 29 Kobo, Honeywell Flour depleted by 11.07 per cent to settle at N2.25, Vitafoam dropped 9.96 per cent to trade at N21.25, Multiverse retreated by 9.92 per cent to quote at N2.36, while ABC Transport fell by 9.68 per cent to finish at 28 Kobo.

On the flip side, Chams recorded the highest weekly growth of 19.23 per cent to settle at 31 Kobo. PZ Cussons appreciated by 12.80 per cent to N9.25, NEM Insurance grew by 11.88 per cent to close at N5.65, eTranzact chalked up 9.81 per cent to trade at N2.91, while Unilever Nigeria garnered 9.43 per cent to sell for N13.35.

In the week, investors bought and sold 949.819 million shares worth N9.329 billion in 18,525 deals in contrast to the 1.195 billion shares worth N12.924 billion transacted in 19,305 deals in the prior week.

Sterling Bank, UBA and Transcorp were the most active stocks for the week, selling a total of 472.701 million units worth N1.164 billion in 2,333 deals, contributing 49.77 per cent and 12.48 per cent to the total trading volume and value respectively.

Business Post reports that financial stocks led the activity chart with a turnover of 735.300 million units valued at N4.133 billion in 10,186 deals, contributing 77.41 per cent and 44.30 per cent to the total trading volume and value respectively.

Conglomerates equities followed with 69.775 million units valued at N191.041 million in 570 deals, while ICT shares traded 44.439 million units worth N2.875 billion in 1,744 deals.