UBA, Fidelity Bank, Access Holdings Close as Busiest Equities

By Dipo Olowookere

The trio of UBA, Fidelity Bank and Access Holdings were the busiest stocks at the Nigerian Exchange (NGX) Limited last week, accounting for 447.125 million units worth N6.488 billion in 4,913 deals, contributing 29.88 per cent and 26.72 per cent to the total trading volume and value, respectively.

In the week, investors traded 1.496 billion shares valued at N24.284 billion in 29,298 deals versus the 1.470 billion shares worth N24.431 billion exchanged in 29,683 deals in the preceding week.

Data showed that financial stocks dominated the activity chart with 1.047 billion units worth N12.709 billion in 13,667 deals, contributing 69.99 per cent and 52.34 per cent to the total trading volume and value apiece.

ICT shares followed with 94.997 million units valued at N1.445 billion in 1,982 deals, while conglomerates stocks traded 80.655 million units worth N526.409 million in 1,459 deals.

On the price movement index, 28 stocks appreciated in value versus 38 stocks in the previous week, 46 shares shed weight versus 33 shares a week earlier, and 83 equities closed flat compared with 86 equities in the preceding week.

Thomas Wyatt topped the gainers’ chart after it rose by 29.64 per cent to N3.63, DAAR Communications gained 9.52 per cent to sell at 23 Kobo, Julius Berger improved by 9.09 per cent to N36.00, UBA rose by 8.26 per cent to N19.00, and Learn Africa went up by 6.45 per cent to N3.30.

On the flip side, Sovereign Trust Insurance led the losers’ log as it shed 17.50 per cent to close at 33 Kobo, Cadbury Nigeria depreciated by 16.00 per cent to N12.60, Stanbic IBTC Holdings went down by 13.06 per cent to N69.55, Flour Mills crashed by 11.88 per cent to N28.20, and Okomu Oil slipped by 9.96 per cent to N236.80.

Business Post reports that when trading activities finished for the week, the All-Share Index (ASI) and the market capitalisation weakened by 0.42 per cent each to 66,915.41 points and N36.764 trillion, respectively.

Similarly, all other indices finished lower apart from the NGX CG, premium, banking, AFR Bank Value, AFR Div. Yield, MERI Value and sovereign bond, which gained 0.47 per cent, 0.54 per cent, 3.52 per cent, 1.82 per cent, 3.24 per cent, 2.99 per cent and 3.08 per cent apiece, while the ASeM index closed flat.