Academy Press Sees 48.82% Upsurge in Share Price

By Dipo Olowookere

Last week, the share price of Academy Press Plc significantly grew by 48.82 per cent to close at N1.89 compared with the previous week’s value of N1.27 as investors buy the stocks in anticipation that the demand for the company’s products will rise in the coming months.

The company was one of the 31 equities that appreciated in price in the week, lower than the 34 equities in the previous week.

UPDC gained 20.39 per cent to trade at N1.24, Learn Africa rose by 11.11 per cent to N2.50, Caverton improved by 9.91 per cent to N1.22, while John Holt increased by 9.76 per cent to 90 Kobo.

In the week, 26 stocks depreciated in value, lower than 29 stocks of the preceding week, with RT Briscoe leading after it dropped 22.73 per cent to settle at 34 Kobo. International Breweries went down by 14.29 per cent to N5.40, MRS Oil declined by 11.08 per cent to N14.45, Conoil decreased by 9.90 per cent to N25.95, while Union Bank retreated by 9.76 per cent to N5.55.

Business Post reports that a total of 99 shares remained unchanged last week, higher than the 93 shares of the previous week.

Data from the Nigerian Exchange (NGX) Limited revealed that on a week-on-week basis, the All-Share Index (ASI) and the market capitalisation depreciated by 0.53 per cent and 0.50 per cent to close at 51,557.41 points and N27.803 trillion respectively.

Similarly, all other indices finished lower with the exception of the AFR bank value index, which gained 0.38 per cent, while, the ASeM and sovereign bond indices closed flat.

On the activity log, GTCO, UBA and Transcorp were the most active stocks as they traded 244.025 million units valued at N2.680 billion in 3,732 deals, accounting for 29.67 per cent and 25.86 per cent of the total trading volume and value respectively.

Further analysis showed that shares in the financial services industry attracted the sale of 491.270 million units worth 4.499 billion in 9,961 deals, contributing 59.74 per cent and 43.40 per cent to the total trading volume and value respectively.

Equities in the conglomerates space followed with 81.698 million units worth N218.285 million in 605 deals, while stocks in the consumer goods sector recorded the sale of 55.052 million units valued at N855.318 million in 3,093 deals.

In the week, which had five trading sessions, 822.404 million shares worth N10.366 billion exchanged hands in 20,643 deals compared with the 1.348 billion shares valued at N24.487 billion transacted in 22,155 deals a week earlier.