In Five Days, Infinity Trust Chalks up 59.32% at Stock Market

By Dipo Olowookere

It was another fantastic period for Infinity Trust Mortgage Bank Plc at the Nigerian Exchange (NGX) Limited last week as its value increased by 59.32 per cent to N2.82.

The stock was among the 53 price gainers recorded at the bourse in the trading week, higher than 49 price gainers posted in the preceding week, buoyed by sustained buying pressure.

The share price of SCOA Nigeria rose in the week by 28.89 per cent to N1.74, DAAR Communications appreciated by 27.78 per cent to 46 Kobo, John Holt grew by 20.54 per cent to N2.23, and Deap Capital gained 14.75 per cent to trade at 70 Kobo.

On the flip side, the NGX reported 32 price losers compared with the 33 price laggards of the previous week, with Secure Electronic Technology losing 16.00 per cent to finish at 63 Kobo. Eterna shed 11.83 per cent to N11.55, Thomas Wyatt depreciated by 11.14 per cent to sell at N2.95, Juli retreated by 9.72 per cent to 65 Kobo, and NEM Insurance dropped 9.32 per cent to quote at N5.35.

In the week, the All-Share Index (ASI) and the market capitalisation appreciated by 1.18 per cent to 72,389.23 points and N39.613 trillion, respectively.

Similarly, all other indices finished higher except for insurance, ASeM, energy and growth which depreciated by 0.96 per cent, 1.04 per cent, 0.27 per cent and 5.23 per cent apiece as the sovereign bond index closed flat.

Business Post reports that investors transacted 1.882 billion shares worth N31.630 billion in 33,020 deals versus the 2.423 billion shares worth N45.070 billion in 34,704 deals in the previous week.

The financial services industry led the activity chart with 1.373 billion shares valued at N22.165 billion traded in 17,300 deals, contributing 72.96 per cent and 70.08 per cent to the total trading volume and value, respectively.

The services sector trailed with 97.008 million shares worth N616.265 million in 1,949 deals, and the third place was the consumer goods space with a turnover of 86.370 million shares worth N2.136 billion in 3,819 deals.

Access Holdings, GTCO and Zenith Bank accounted for 491.533 million shares worth N15.466 billion in 5,997 deals, contributing 26.12 per cent and 48.90 per cent to the total trading volume and value apiece.