Dipo Olowookere
By Dipo Olowookere
The local equity market appreciated by 5.30 per cent last week, thanks to the gains printed by 53 stocks listed on the exchange.
The performance of these stocks triggered the 1,429.54 points gained by the All-Share Index (ASI), closing at 28,415.31 points versus the previous week’s 26,985.77 points.
In the same vein, it boosted the market capitalisation during the five-day trading week by N747 billion to N14.852 trillion from N14.105 trillion.
Business Post reports that Eterna was the best-performing stock on the floor of the Nigerian Stock Exchange (NSE) last week, appreciating by 32.48 per cent to close at N3.63 per unit.
International Breweries gained 21.03 per cent to sell at N4.72 per share, Africa Prudential rose by 20.63 per cent to trade at N5.73 per share, Trans-Nationwide Express improved by 19.48 per cent to finish at 92 kobo per unit, while FBN Holdings grew by 19.23 per cent to quote at N6.20 per share.
On the other hand, UAC Property was the worst-performing equity in the week, losing 11.96 per cent to close at 81 kobo per share and was followed by Tripple Gee, which lost 10.00 per cent to trade at 36 kobo per unit.
Deap Capital depreciated by 10.00 per cent to quote at 27 kobo per share, Academy Press declined by 6.90 per cent to finish at 27 kobo per share, while Conoil went down by 5.57 per cent to N14.40 per unit.
On the activity chart, 3.1 billion shares worth N35.4 billion were traded by investors last week in 35,099 deals as against the 1.5 billion shares valued at N16.9 billion transacted by investors the preceding week in 17,882 deals.
As usual, the financial services industry was the most active, accounting for 2.3 billion units valued at N25.8 billion traded in 21,306 deals, contributing 74.05 per cent and 72.99 per cent to the total equity turnover volume and value respectively.
The energy sector followed after trading 200.6 million equities worth N1.0 billion in 1,977 deals, while industrial goods industry transacted 149.2 million stocks valued at N3.6 billion in 2,991 deals.
It was discovered that Zenith Bank, FBN Holdings and United Bank for Africa (UBA) contributed 39.36 per cent and 44.45 per cent to the total equity turnover volume and value respectively for trading 1.2 billion units worth N15.7 billion in 9,774 deals,.
