965.1 million Shares Worth N12.5bn Exchange Hands in Five Days

By Dipo Olowookere

A total of 965.1 million shares worth N12.5 billion exchanged hands in 14,802 deals last week compared with the 1.3 billion shares worth N15.3 billion exchanged in 18,292 deals a week earlier.

Trading in UACN, FBN Holdings and Sovereign Trust Insurance accounted for 378.6 million units valued at N3.3 billion transacted in 14,802 deals, contributing 39.23 per cent and 26.22 per cent to the total equity turnover volume and value respectively.

At the close of transactions, financial stocks recorded the sale of 574.2 million units valued at N4.9 billion executed in 7,794 deals, contributing 59.50 per cent and 39.03 per cent to the total trading volume and value respectively.

Business Post reports that conglomerates equities trailed with 246.8 million units valued at N2.1 billion carried out in 382 deals, while consumer goods shares recorded the sale of 30.3 million units worth N1.7 billion in 2,157 deals.

In the week, 33 stocks ended on the gainers’ chart, higher than 32 stocks of the earlier week, while 25 stocks finished on the losers’ log, lower than 28 stocks recorded in the previous week, with 99 stocks closing flat, higher than 96 stocks of the preceding week.

Mutual Benefits Assurance was the best-performing stock with a week-on-week growth of 23.08 per cent to settle at 32 kobo.

Consolidated Hallmark Insurance grew by 20.69 per cent to 70 kobo, Union Bank rose by 20.65 per cent to N5.55, Royal Exchange went up by 11.59 per cent to 77 kobo, while May & Baker appreciated by 10.00 per cent to N4.51.

On the reverse side, Julius Berger ended as the worst-performing stock after its value depreciated by 9.88 per cent to close at N22.35.

MRS Oil lost 9.85 per cent to trade at N12.35, Cornerstone Insurance dropped 9.80 per cent to 46 kobo, C&I Leasing declined by 8.70 per cent to N4.20, while Learn Africa decreased by 7.14 per cent to N1.17.

Data from the Nigerian Exchange (NGX) Limited disclosed that the All-Share Index and market capitalisation depreciated week-on-week by 0.21 per cent and 0.21 per cent to 42,262.85 points and N22.060 trillion respectively.

Similarly, all other indices finished lower with the exception of the main board, banking, insurance, AFR Div Yield, Meri Growth, consumer goods and industrial goods indices, which fell by 0.44 per cent, 0.10 per cent, 1.85 per cent, 0.15 per cent, 0.56 per cent, 0.78 per cent and 0.43 per cent respectively while the ASeM, growth and sovereign bond indices closed flat.