By Dipo Olowookere
The news of a N20 billion capital raising for the establishment of a gold refinery and the acquisition of mining companies triggered the demand for the shares of Japaul Gold and Ventures Plc on the floor of the Nigerian Exchange (NGX) Limited last week.
Business Post reports that in the five-day trading week, the stock price of the mining organisation increased by 55.91 per cent to N1.98, leading the gainers’ chart.
According to data obtained from the bourse, Japual, FBN Holdings and UBA closed as the most active stocks, selling 1.030 billion units worth N14.138 billion in 5,263 deals, contributing 40.80 per cent and 31.21 per cent to the total trading volume and value, respectively.
In the week, investors transacted 2.525 billion shares worth N45.297 billion in 32,815 deals versus the 2.451 billion shares valued at N40.570 billion traded a week earlier in 37,959 deals.
The financial services industry led the activity chart with 1.677 billion units valued at N28.776 billion in 14,655 deals, contributing 66.44 per cent and 63.53 per cent to the total trading volume and value apiece.
The energy space trailed with 407.350 million shares worth N1.651 billion in 3,273 deals, and the third place was the ICT sector with a turnover of 120.200 million shares worth N7.255 billion in 2,912 deals.
Thirty-seven stocks appreciated in price during the week versus 63 stocks of the previous week, 43 equities depreciated compared with 29 equities a week earlier, and 75 shares closed flat, in contrast to 64 shares of the preceding week.
On the price movement index, RT Briscoe gained 39.53 per cent to finish at 60 Kobo, GlaxoSmithKline rose by 29.44 per cent to N16.05, PZ Cussons grew by 15.00 per cent to N23.00, and Deap Capital expanded by 14.81 per cent to 31 Kobo.
On the flip side, Caverton lost 13.64 per cent to trade at N1.33, The Initiates declined by 10.53 per cent to N1.02, Northern Nigerian Flour Mills fell by 10.00 per cent to N18.00, Multiverse shed 9.38 per cent to N2.90, and Cadbury Nigeria went down by 8.57 per cent to N14.40.
On a week-on-week basis, the All-Share Index (ASI) and the market capitalisation appreciated by 0.93 per cent and 0.95 per cent to close at 70,849.38 points and N38.925 trillion, respectively.
Similarly, all other indices finished higher except insurance, NGX AFR Bank Value, NGX MERI Growth and sovereign bond indices, which fell by 0.53 per cent, 0.68 per cent, 1.40 per cent and 2.25 per cent apiece, while the ASeM index closed flat.
Adedapo Adesanya