UPDC, Transcorp, Jaiz Bank Contribute 81% to Weekly Trading Volume

By Modupe Gbadeyanka

Shares of UAC Property Development Company, Transcorp and Jaiz Bank were busy at the market last week, accounting for 81.22 per cent and 18.50 per cent to the trading volume and value respectively.

A total of 11.4 billion shares worth N35.9 billion were traded in the week in 39,265 deals in contrast to the 4.5 billion equities worth N58.7 billion transacted a week earlier in 47,140 deals.

But the three equities accounted for 9.3 billion units worth N6.6 billion exchanged in 1,958 deals.

By sector, the construction/real estate was the most active, selling 8.5 billion shares valued at N6.1 billion in 438 deals. contributing 74.82 per cent and 16.87 per cent to the total equity turnover volume and value respectively.

It was followed by the financial services, which traded 2.0 billion shares worth N19.9 billion in 21,725 deals, while the conglomerate traded 423.7 million shares worth N526.7 million in 1,962 deals.

In the week, the All-Share Index and market capitalisation depreciated by 2.57 per cent to close at 34,136.82 points and N17.838 trillion respectively.

Similarly, all the other indices finished lower with the exception of insurance, which appreciated by 0.51 per cent while the ASeM index closed flat.

A total of 21 equities appreciated in price during the week, lower than 69 equities in the previous week, while 55 equities depreciated in price, higher than 12 equities in the previous week, with 85 equities closing flat, higher than 80 recorded in the previous week.

BOC Gases was the highest gainer as its stocks rose by 39.88 per cent to close at N6.77 per share. Tripple Gee gained 19.57 per cent to finish at 55 kobo per share, NEM Insurance appreciated by 17.27 per cent to end at N2.58 per share, AIICO Insurance garnered 12,22 per cent to close at N1.01 per share, while Ikeja Hotels gained 10.00 per cent to finish at N1.10 per share.

On the losers’ chart, Coronation Insurance occupied the top spot after declining by 21.15 per cent to finish at 41 kobo per share, Oando lost 19.75 per cent to end at N3.21 per share, Japaul declined by 18.18 per cent to 27 kobo per share, Transcorp depreciated by 13.04 per cent to N1.00 per share, while FBN Holdings depleted by 12.12 per cent to end at N7.25 per share.