By Dipo Olowookere
Investment in stocks in Nigeria attracted about N59.0 billion in the four trading sessions of last week, analysis of the transactions on the floor of the Nigerian Exchange (NGX) Limited has revealed.
The significant increase in the volume and value of trades by investors in the week was due to the patronage of BUA Foods equities after they were listed on the exchange.
Business Post reports that in the week, a total of 2.0 billion shares worth N59.0 billion were bought and sold in 15,750 deals compared with the 995.4 million shares worth N13.2 billion transacted in 10,264 deals a week earlier.
BUA Foods, Wema Bank and Transcorp were the most traded equities in the week, accounting for 1.4 billion units worth N51.3 billion executed in 1,120 deals, contributing 67 per cent and 86.85 per cent to the total trading volume and value respectively.
In terms of the sectors, the consumer goods industry led the activity chart with 1.3 billion shares valued at N52.0 billion traded in 2,581 deals, accounting for 61.90 per cent and 88.07 per cent of the total trading volume and value respectively.
The financial services counter followed with 538.0 million shares worth N4.6 billion in 8,015 deals, while the ICT space posted a turnover of 76.9 million shares worth N704.4 million carried out in 933 deals.
Academy Press ended the week as the highest price riser, growing by 20.00 per cent to trade at 60 kobo, followed by Cornerstone Insurance, which gained 19.57 per cent to sell for 55 kobo.
Meyer also rose by 19.57 per cent to 55 kobo, Wema Bank increased by 18.06 per cent to 45 kobo, while Japaul appreciated by 15.38 per cent to 78 kobo.
The heaviest price loser in the week was Sunu Assurances, which fell by 17.78 per cent to 37 kobo, trailed by Consolidated Hallmark Insurance, which dropped 16.46 per cent to 66 kobo.
Sovereign Trust Insurance decreased by 13.33 per cent to 26 kobo, Vitafoam lost 10.00 per cent to finish at N20.25, while Northern Nigerian Flour Mills deflated by 9.38 per cent to N7.25.
At the close of transactions, the bourse ended with 40 price gainers, higher than 37 gainers of the preceding week, 31 price losers, also higher than 21 losers of the earlier week, while 84 equities closed flat, lower than 99 equities of the previous week.
In terms of the movement of the key indices of the exchange, the All-Share Index (ASI) and market capitalisation appreciated by 2.66 per cent and 5.97 per cent to 43,854.42 points and N23.628 trillion respectively.
Similarly, all other indices finished higher with the exception of the premium, insurance, AFR Div Yield, Meri Growth, consumer goods, and Lotus II indices, which fell by 0.47 per cent, 0.93 per cent, 0.97 per cent, 0.66 per cent, 0.87 per cent, and 0.12 per cent respectively, while the ASem and sovereign bond indices closed flat.
Adedapo Adesanya