By Dipo Olowookere
The All-Share Index (ASI) and market capitalisation of the Nigerian Exchange (NGX) Limited appreciated by 2.61 per cent last week to close at 50,935.03 points and N27.460 trillion respectively.
Similarly, all other indices finished higher with the exception of insurance, Afr. Bank value, Meri value, oil/gas, growth and sovereign indices which depreciated by 1.98 per cent, 1.68 per cent, 0.60 per cent, 1.10 per cent, 6.52 per cent and 0.09 per cent while Asem index closed flat.
Business Post reports that the market opened for three days due to the public holiday observed last Monday and Tuesday and only 49 equities appreciated in price, lower than 56 equities in the previous week.
In addition, 32 equities depreciated in price, higher than 26 equities in the previous week, while 75 equities remained unchanged, higher than 74 equities recorded in the previous week.
The highest price gainer was Champion Breweries as its value rose by 32.54 per cent to N3.34, International Breweries gained 32.35 per cent to trade at N6.75, Cadbury Nigeria appreciated by 32.20 per cent to N13.55, Fidson Healthcare expanded by 23.07 per cent to N10.03, while Nigerian Breweries jumped by 22.59 per cent to N70.00.
The biggest depreciating stock in the week was Oando as it posted a decline of 11.75 per cent to quote at N5.56, Trans-Nationwide Express fell by 9.88 per cent to 73 kobo, Axa Mansard Insurance went down by 9.84 per cent to N2.20, Livingtrust Mortgage Bank depreciated by 9.68 per cent to N1.12, while Transcorp Hotels shrank by 9.09 per cent to N4.50.
In the week, investors bought and sold 1.598 billion shares worth N19.603 billion in 21,494 deals compared with the 8.205 billion shares worth N49.145 billion transacted in 28,622 deals a week earlier.
The financial services sector led the activity chart by volume with the sale of 1.057 billion shares valued at N7.727 billion traded in 8,670 deals, contributing 66.15 per cent and 39.42 per cent to the total trading volume and value respectively.
The conglomerates industry followed with 148.174 million shares worth N250.567 million in 852 deals, while the third place was the consumer goods sector with a turnover of 145.471 million shares worth N5.226 billion in 4,557 deals.
Union Bank of Nigeria, FCMB and Transcorp were the most traded stocks by volume with 547.576 million units worth N2.330 billion transacted in 957 deals, contributing 34.26 per cent and 11.89 per cent to the total trading volume and value respectively.
