Dipo Olowookere
By Dipo Olowookere
The market capitalisation of the Nigerian Exchange (NGX) Limited appreciated last week by 2.00 per cent to N26.125 trillion from the preceding week’s N25.613 trillion.
Also, the All-Share Index (ASI) of the local bourse increased by 2.00 per cent to 48,459.65 points from 47,510.38 points, according to data from the NGX.
The market operated for only four days last week due to the public holiday observed on Monday, April 18, 2022, for Easter Monday.
It was observed that some investors bought some stocks that could appreciate in value over the next months as they await the financial performances of companies on the exchange in the first three months of this year.
The bargain-hunting activities pushed most indices higher last week, with the exception of insurance, which depreciated at 0.05 per cent while Asem, Afr. bank value and growth indices closed flat.
Business Post reports that a total of 50 equities appreciated in price during the week, lower than 51 equities in the previous week, while 29 equities depreciated in price, higher than 18 equities in the previous week, with 77 equities remaining unchanged, lower than 87 equities recorded in the previous week.
Meyer topped the weekly gainers’ chart with a price appreciation of 45.63 per cent to trade at N2.33, Eterna rose by 33.00 per cent to N6.65, Oando improved by 21.33 per cent to N5.86, Guinness Nigeria gained 17.50 per cent to sell at N82.25, while FTN Cocoa expanded by 12.12 per cent to 37 kobo.
As for the losers’ log, Academy Press was on top with a price decline of 18.75 per cent to trade at N1.17, John Holt lost 17.44 per cent to quote at 71 kobo, Neimeth contracted by 13.92 per cent to N1.36, CWG went down by 10.20 per cent to 88 kobo, while SCOA Nigeria dropped 9.77 per cent to settle at N1.94.
In the week, investors transacted a total of 1.3 billion shares worth N17.8 billion in 20,212 deals as against the 1.3 billion shares valued at N22.4 billion traded in 23,406 deals the previous week.
Analysis indicated that financial stocks led the activity chart with 836.8 million units worth N6.007 billion were traded in 9,527 deals, contributing 64.28 per cent and 33.72 per cent to the total trading volume and value respectively.
Energy equities followed with 86.9 million units valued at N1.2 billion exchanged in 1,770 deals, while consumer goods shares traded 86.3 million units worth N2.2 billion in 3,056 deals.
The trio of Fidelity Bank, Zenith Bank and Universal Insurance accounted for 279.5 million units worth N2.6 billion executed in 2,504 deals, contributing 21.47 per cent and 14.75 per cent to the total equity turnover volume and value respectively.
