Investors Pump N77.797bn into Nigerian Shares in One Week

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited attracted N77.797 billion last week after investors bought and sold 5.179 billion shares in 79,012 deals.

In the preceding trading week, traders at the nation’s stock exchange transacted 5.719 billion shares valued at N88.828 billion in 80,064 deals.

Business Post reports that financial equities dominated the activity chart in the week after trading 3.191 billion units worth N33.413 billion in 36,276 deals, accounting for 61.60 per cent and 42.95 per cent of the total trading volume and value, respectively.

Conglomerates stocks recorded a turnover of 473.638 million units worth N8.185 billion in 6,325 deals, and consumer goods equities sold 460.149 million units valued at N17.484 billion in 12,550 deals.

Transcorp, Jaiz Bank, and AIICO Insurance were the busiest last week with 1.093 billion shares worth N9.501 billion in 10,047 deals, accounting for 21.09 per cent and 12.21 per cent of the total trading volume and value, respectively.

The Initiates topped the gainers’ chart after rising by 59.78 per cent to 2.94 per cent, Dangote Cement gained 53.94 per cent to close at N538.80, Honeywell Flour appreciated by 50.77 per cent to N5.85, May & Baker jumped by 50.46 per cent to N8.26, and McNichols soared by 46.34 per cent to N1.80.

Conversely, Royal Exchange lost 22.45 per cent to 76 Kobo, Ikeja Hotel fell by 10.57 per cent to N7.70, Linkage Assurance declined by 8.16 per cent to N1.35, Multiverse depreciated by 6.59 per cent to N17.00, and United Capital moderated by 6.27 per cent to N23.90.

In the five-day trading week, 81 shares were on the price gainers’ log versus 75 shares of the preceding week, 58 equities were on the losers’ chart versus 23 equities of the previous week, and 16 stocks remained flat versus 57 stocks a week earlier.

The All-Share Index (ASI) and the market capitalisation appreciated on a week-on-week basis by 13.84 per cent and 13.85 per cent, respectively to 94,538.12 points and N51.735 trillion, while all other indices finished higher except the banking index, which dropped 0.12 per cent, as the ASeM index closed flat.