Investors Stake N53.787bn on 2.474 billion Shares in One Week

By Dipo Olowookere

A total of 2.474 billion shares worth N53.787 billion were traded at the Nigerian Exchange (NGX) Limited in 35,848 deals last week compared with the 1.882 billion shares worth N31.630 billion traded in 33,020 deals in the preceding week.

Abbey Mortgage Bank, Transcorp and Access Holdings were the most active stocks in the week, trading 621.814 million units valued at N6.338 billion in 4,235 deals, contributing 25.13 per cent and 11.78 per cent to the total trading volume and value apiece.

Financial equities led the activity chart with 1.756 billion units valued at N24.641 billion traded in 17,589 deals, thus contributing 70.95 per cent and 45.81 per cent to the total trading volume and value, respectively.

Conglomerates shares followed with 222.963 million units sold for N1.781 billion in 2,573 deals, and services stocks occupied the third place with 93.820 million units worth N528.510 million in 2,166 deals.

Business Post reports that 55 shares appreciated in price during the week versus 53 shares in the previous week, 35 equities depreciated in price compared with 32 equities in the preceding week, while 65 stocks closed flat, in contrast to 70 stocks a week earlier.

Infinity Trust Mortgage Bank was the best-performing stock in the week, rising by 60.64 per cent to N4.53, DAAR Communications grew by 50.00 per cent to 69 Kobo, Multiverse gained 41.25 per cent to finish at N13.97, Transcorp Hotels expanded by 36.03 per cent to N63.80, and Transcorp went up by 26.44 per cent to N8.80.

The worst-performing equity for the week was ABC Transport, which lost 16.48 per cent to settle at 76 Kobo, Omatek fell by 12.33 per cent to 64 Kobo, eTranzact dropped 12.32 per cent to N6.05, Sovereign Trust Insurance declined by 10.26 per cent to 35 Kobo, and Thomas Wyatt crashed by 10.17 per cent to N2.65.

In the week, which came before Christmas, the All-Share Index (ASI) and the market capitalisation appreciated by 2.26 per cent to 74,023.27 points and N40.507 trillion, respectively.

Similarly, all other indices finished higher except ASeM, consumer goods and growth indices, which depreciated by 0.90 per cent, 0.70 per cent and 0.18 per cent apiece, while the sovereign bond index closed flat.