By Dipo Olowookere
Investors at the Nigerian Exchange (NGX) Limited are already putting an eye on Thomas Wyatt as its share price increased by 52.58 per cent last week.
Business Post reports that Thomas Wyatt shares ended the trading week at N1.48 per unit, in contrast to the 97 Kobo per unit it finished in the preceding week. Its value at N1.48 is its 52-week high.
It has been keenly observed that Thomas Wyatt has maintained an upward trajectory since the NGX Regulation lifted the embargo it placed on the company in October after it filed its results. The details of its earnings may have caught the attention of value investors, who believe the stock should be trading higher than its price.
Last week, it topped the gainers’ chart of 51 members, higher than 38 members in the previous week, with Chams following with a 17.39 per cent appreciation to close at 27 Kobo. ABC Transport rose by 16.00 per cent to 29 Kobo, Livestock Feeds gained 15.04 per cent to N1.30, and Mutual Benefits increased by 14.29 per cent to 32 Kobo.
During the week, 27 stocks were on the losers’ log compared with 17 stocks in the preceding week, as Chellarams suffered the heaviest loss after it went down by 33.66 per cent to N1.34. Royal Exchange fell by 10.78 per cent to 91 Kobo, Abbey Mortgage Bank declined by 10.00 per cent to N1.53, NEM Insurance depreciated by 10.00 per cent to N4.05, and Cornerstone Insurance depleted by 8.33 per cent to 55 Kobo.
In the week, a total of 79 equities remained unchanged, in contrast to the 102 equities recorded in the earlier trading week.
An analysis of the performance of the exchange showed that the All-Share Index (ASI) and the market capitalisation appreciated by 2.52 per cent each to 52,512.48 points and N28.602 trillion, respectively.
Similarly, apart from the insurance and growth indices, which depreciated by 1.64 per cent and 4.40 per cent apiece, all other indices finished higher, while the ASeM and sovereign bond indices closed flat.
As for the activity chart, it was mixed as traders transacted 1.286 billion shares worth N29.634 billion in 19,816 deals, in contrast to the 921.856 million shares worth N27.154 billion traded in 15,601 deals a week earlier.
As usual, the financial services sector dominated with a turnover of 952.237 million shares valued at N9.728 billion in 9,647 deals, contributing 74.07 per cent and 32.83 per cent to the total trading volume and value, respectively.
It was trailed by the industrial goods space with 92.864 million shares worth N8.510 billion in 1,682 deals, and the conglomerates industry with a turnover of 54.568 million shares worth N96.654 million in 754 deals.
A further breakdown showed that FBN Holdings, Sterling Bank, and GTCO were the busiest equities in the five-day trading week as they transacted 507.852 million units worth N5.707 billion in 2,585 deals, contributing 39.50 per cent and 19.26 per cent to the total trading volume and value, respectively.
Adedapo Adesanya