Africa Prudential Loses 17.78% in One Week as NGX Index Shrinks 0.35%

By Dipo Olowookere

Africa Prudential topped the losers’ chart at the Nigerian Exchange (NGX) Limited last week with a 17.78 per cent week-on-week loss to settle at N7.40 compared with the preceding week’s N9.00.

Thomas Wyatt and PZ Cussons depreciated by 10.00 per cent each to sell for N2.16, and N19.80 apiece, CWG fell by 9.80 per cent to N6.90, and Tantalizers declined by 9.62 per cent to 47 Kobo.

On the flip side, Livestock Feeds topped the gainers’ table after it added 27.03 per cent to close at N2.35, ABC Transport expanded by 20.31 per cent to 77 Kobo, Eterna grew by 18.42 per cent to N18.00, Vitafoam increased by 17.78 per cent to N21.20, and Caverton gained 17.04 per cent to finish at N1.58.

Business Post reports that in the week, 34 equities appreciated versus 37 equities in the previous week, 38 shares retreated compared with the 45 shares a week earlier, and 82 stocks closed flat, in contrast to the 72 stocks recorded in the preceding week.

The All-Share Index (ASI) and the market capitalisation depreciated by 0.35 per cent and 0.25 per cent to 99,671.28 points and N56.441 trillion, respectively.

Similarly, other indices finished lower except AFR Bank Value, AFR Div Yield, energy, lotus II, industrial goods and growth indices, which appreciated by 1.54 per cent, 2.18 per cent, 1.38 per cent 0.43 per cent, 0.05 per cent and 2.77 per cent, respectively while the ASeM and sovereign bond indices closed flat.

There was a slight improvement in the activity level in the week, as investors traded 2.765 billion shares worth N85.230 billion in 40,796 deals versus the 2.259 billion shares valued at N31.166 billion transacted in the preceding week in 42,851 deals.

The financial services industry led the activity chart with 1.892 billion shares valued at N24.326 billion traded in 21,447 deals, contributing 68.42 per cent and 28.54 per cent to the total trading volume and value, respectively.

The agriculture space followed with 388.212 million shares worth N1.539 billion in 1,865 deals, while the utilities sector traded 121.608 million shares worth N50.613 billion in 627 deals.

The trio of Fidelity Bank, Ellah Lakes, and GTCO accounted for 1.335 billion stocks worth N16.052 billion in 4,562 deals, contributing 48.29 per cent and 18.83 per cent to the total trading volume and value, respectively.