Investors Trade 980.5m Financial Stocks Worth N7bn in Five Days

By Dipo Olowookere

Last week, a total of 980.5 million shares worth N7.0 billion in the financial services sector on the Nigerian Stock Exchange (NSE) were traded by investors in 11,634 deals.

These transactions contributed 79.99 per cent and 64.44 per cent to the total equity turnover volume and value respectively, data from the exchange disclosed.

It was observed that the conglomerates industry followed with 59.8 million shares worth N72.5 million in 550 deals, while the third place was the consumer goods sector with a turnover of 58.9 million shares valued at N1.4 billion in 2,862 deals.

Business Post reports that the three most traded stocks in the five-day trading week were Custodian Investment, Zenith Bank and UBA, accounting for 404.2 million shares worth N3.9 billion transacted in 3,910 deals and contributed 32.97 per cent and 35.48 per cent to the total equity turnover volume and value respectively.

According to the exchange, a total of 1.2 billion equities worth N10.8 billion were traded last week in 19,529 deals, as against the 2.209 billion shares valued at N11.0 billion transacted the previous week in 18,013 deals.

It was stated that 23 equities appreciated in price during the week, lower than 41 equities in the previous week, while 38 equities depreciated in price, higher than 19 equities in the previous week, with 102 stocks closing flat, lower than 103 equities recorded in the previous week.

Eterna was the best-performing stock of the week, rising by 28.85 per cent to sell for N2.68 per share and was followed by C&I Leasing, which gained 11.11 per cent to close at N4.00 per share.

NEM Insurance rose by 8.70 per cent to quote at N2.25 per share, NPF Microfinance Bank appreciated by 8.66 per cent to trade at N1.38 per share, while Academy Press improved by 7.41 per cent to close at 29 kobo per share.

The worst-performing stock for the week was Royal Exchange, depreciating by 15.15 per cent to trade at 28 kobo per share, while Consolidated Hallmark Insurance went down by 14.71 per cent to trade at 29 kobo per unit.

Livestock Feed declined by 10.61 per cent to sell for 59 kobo per share, Ardova lost 9.92 per cent to settle at N11.35 per unit, while Arbico decreased by 9.65 per cent to finish at N1.03 per unit.

Unlike in the previous weeks, the All-Share Index (ASI) and market capitalisation depreciated by 0.05 per cent to close at 25,591.95 points and N13.351 trillion respectively.

All other indices finished lower with the exception of NSE Premium, NSE Lotus II, and NSE industrial goods, which appreciated by 0.53 per cent, 0.14 per cent and 0.35 per cent respectively while NSE ASeM index closed flat.