40 Equities Led by Ecobank Buoy ASI by 3.07%
By Dipo Olowookere
A total of 40 equities appreciated in price during last week on the floor of the Nigerian Stock Exchange (NSE), higher than 15 equities in the previous week.
During the week also, 25 equities depreciated in price, lower than 34 equities in the previous week, while 101 equities remained unchanged, lower than 119 equities recorded in the preceding week.
It was observed that Ecobank topped the gainers’ chart, appreciating by 33.33 percent in the week to settle at N8 per share after opening for the week at N6 each.
Second on the log was Oando, which rose by 20.90 percent to close at N4.05k, while the third place was occupied by Fidelity Bank after appreciating by 20.00 percent to end at N1.68k per unit.
UAC Nigeria gained 18.89 percent in the week to finish at N5.35k per share, while Law Union and Rock Insurance improved by 18.18 percent to close at 39 kobo per share.
On the flip side, Okomu Oil emerged as the top decliner in the week, depreciating by 18.06 percent to close at N40.15k, with NCR Nigeria following with a price depreciation of 14.66 percent to end at N4.95k per unit.
LASACO Assurance lost 12.12 percent to end at 29 kobo per share, Continental Reinsurance fell by 10.34 percent to close at N1.30k per unit, while Tripple Gee and Company declined by 10.00 percent to finish at 63 kobo per unit.
Business post reports that in the week, the All-Share Index (ASI) and market capitalization appreciated by 3.07 percent and 3.25 percent to close at 27,800.17 points and N13.524 trillion respectively.
Similarly, all other indices finished higher with the exception of NSE Insurance index which depreciated by 1.38 percent while the NSE ASeM index closed flat.
On the activity chart, investors traded a total of 2.3 billion shares worth N19.7 billion in 18,379 deals compared with the 726.6 million shares valued at N10.5 billion transacted in the previous week in 12,915 deals.
The financial services industry led the activity chart with 1.8 billion shares valued at N10.4 billion traded in 10,701 deals, contributing 77.70 percent and 52.97 percent to the total equity turnover volume and value respectively.
The conglomerates sector followed with 197.8 million shares worth N286.2 million in 1,066 deals, while the third place was occupied by the industrial goods industry with a turnover of 100.4 million shares worth N2.2 billion in 788 deals.
Trading in Sovereign Trust Insurance, Transcorp and Zenith Bank accounted for 1.2 billion shares worth N3.4 billion in 2,907 deals, contributing 53.25 percent and 16.98 percent to the total equity turnover volume and value respectively.