30 Stocks Lead Nigerian Exchange to 0.33% Week-on-Week Loss

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited recorded a 0.33 per cent week-on-week loss last week after 30 stocks were in the red, lower than the 53 stocks recorded in the preceding week.

In the week, 50 equities appreciated versus 24 equities in the previous week, and 66 shares closed flat, in contrast to 68 shares a week earlier.

UPDC REIT lost 11.88 per cent to close at N21.15, Nigerian Enamelware shrank by 9.95 per cent to trade at N36.65, NASCON fell by 9.48 per cent to N171.00, Trans-Nationwide Express declined by 9.09 per cent to N2.70, and LivingTrust Mortgage Bank slipped by 8.44 per cent to N2.93.

On the flip side, Livestock Feeds grew by 44.49 per cent to N19.00, eTranzact gained 42.98 per cent to trade at N17.30, Multi-Trex rose by 42.86 per cent to 60 Kobo, Austin Laz soared by 32.73 per cent to N2.92, and Omatek chalked up 19.40 per cent to settle at N1.60.

In the five-day trading week, the All-Share Index (ASI) contracted to 247,539.73 points, and the market capitalisation depreciated to N160.725 trillion.

Similarly, all other indices finished lower except the Main Board, consumer goods, energy, Lotus II, industrial goods, growth and commodity indices, which appreciated by 0.50 per cent, 0.09 per cent, 3.13 per cent, 0.88 per cent, 0.004 per cent, 0.07 per cent, and 2.36 per cent, respectively, while the sovereign bond index closed flat.

A total of 1.659 billion shares worth N98.088 billion exchanged hands in 184,632 deals last week versus the 2.715 billion shares valued at N158.280 billion transacted in 209,986 deals in the preceding week.

The financial services industry led the activity chart with 1.083 billion shares valued at N48.967 billion traded in 86,994 deals, contributing 65.31 per cent and 49.92 per cent to the total trading volume and value, respectively.

The agriculture sector followed with 129.650 million shares worth N2.182 billion in 8,650 deals, and the ICT space posted a turnover of 87.909 million shares worth N6.964 billion in 19,017 deals.

Access Holdings, UBA, and Livestock Feeds topped the activity chart with 413.964 million shares worth N12.158 billion in 18,365 deals, contributing 24.96 per cent and 12.40 per cent to the total trading volume and value, respectively.