Stock Traders Execute 20,591 Deals Worth N14bn in 5 Days

By Dipo Olowookere

A total of 965.6 million stocks in the financial services industry worth N7.8 billion were transacted in 11,710 deals last week at the Nigerian Stock Exchange (NSE).

These transactions contributed 80.79 percent and 55.88 percent to the total equity turnover volume and value respectively during the five-day trading week.

An analysis showed that FBN Holdings, GTBank and Zenith Bank accounted for 582.0 million shares worth N6.4 billion in 7,185 deals, contributing 48.69 percent and 45.52% to the total equity turnover volume and value respectively.

It was also gathered that 54.8 million units of industrial goods equities valued at N1.5 billion were traded in 2,043 deals, while 54.1 million conglomerates shares worth N111.4 million exchanged hands in 460 deals.

At the close of business for the week, a total of 1.2 billion shares worth N14.0 billion in 20,591 deals were traded by investors in the week compared with the 1.5 billion shares valued at N12.9 billion traded in 20,982 deals the previous week.

Business Post reports that 25 equities appreciated in price during the week, lower than 37 equities in the previous week.

Also, 33 equities depreciated in price, higher than 21 equities in the previous week, while 105 equities remained unchanged, the same number of the preceding week.

Cadbury Nigeria was the highest price gainer, rising by 18.25 percent to close at N7.45 per share.

Wema Bank gained 10.71 percent to sell at 62 kobo per unit, NEM Insurance grew by 10.00 percent to trade at N2.20 per unit, UPDC REIT improved by 9.68 percent to quote at N3.40 per share, while University Press garnered 9.68 percent to sell at N1.05 per unit.

On the other hand, SAHCO was the worst performing stock in the week, losing 26.21 percent to trade at N1.52 per share.

UAC Nigeria lost 17.33 percent to quote at N6.20 per share, Guinness Nigeria fell by 15.63 percent to sell at N18.90 per unit, Champion Breweries also depreciated by 15.63 percent to settle at 81 kobo per share, while Oando declined by 12.21 percent to trade at N2.30 per unit.

Checking the key market performance indicators for the week, the All-Share Index (ASI) and market capitalisation both depreciated by 1.41 percent to close at 22,599.38 points and N11.778 trillion respectively.

All other indices finished lower with the exception of insurance, ASeM, Meri Growth and industrial goods indices, which appreciated by 1.17 percent, 3.55 percent, 0.96 percent and 0.71 percent respectively.