Dipo Olowookere
By Dipo Olowookere
The trio of Access Bank, GTCO and Fidelity Bank contributed 29.23 per cent and 24.23 per cent respectively to the total trading volume and value at the Nigerian Exchange (NGX) Limited last week.
According to data obtained by Business Post, investors bought and sold a total of 500.8 million shares of the banking stocks worth N7.5 billion in 3,603 deals in the week.
The shares, especially for Access Bank and GTCO, attracted dividend investors, who are positioning themselves for the annual cash rewards of the duo.
In the week, the market recorded a turnover of 1.7 billion shares worth N30.8 billion in 24,767 deals compared with the 1.3 billion shares valued at N22.7 billion transacted in 27,822 deals in the earlier week.
Further breakdown showed that financial stocks accounted for 1.1 billion units worth N12.2 billion traded in 11,708 deals, contributing 62.14 per cent and 39.66 per cent to the total trading volume and value respectively.
Consumer goods equities trailed with 156.1 million units valued at N5.0 billion in 4,877 deals, while conglomerates shares recorded a turnover of 113.6 million units worth N309.8 million in 1,062 deals.
The best-performing stock for the five-day trading week was RT Briscoe as a result of the 53.85 per cent price appreciation it printed, closing at 60 kobo.
Learn Africa gained 46.67 per cent to settle at N2.20, SCOA Nigeria rose by 32.02 per cent to N2.35, Academy Press expanded by 31.62 per cent to N1.79, while NCR Nigeria increased by 20.91 per cent to N3.99.
On the other hand, CWG ended the week as the worst-performing stock with a price decline of 9.76 per cent to settle at N1.11, Berger Paints lost 9.58 per cent to trade at N7.55, NGX Group fell by 8.49 per cent to N24.25, Lasaco Assurance depreciated by 6.25 per cent to N1.05, while Consolidated Hallmark Insurance dropped 6.15 per cent to 61 kobo.
At the close of business for the week, the exchange recorded 43 price gainers, lower than 44 of the preceding week; 38 price losers, higher than 31 of the earlier week, while 75 equities closed flat, higher than 81 equities recorded in the previous week.
In terms of the general performance of the market last week, the All-Share Index (ASI) and the market capitalisation depreciated by 0.13 per cent and 0.12 per cent to 47,140.48 points and N25.406 trillion respectively.
However, all other indices finished higher with the exception of NGX premium, banking, NGX AFR bank value, energy and industrial goods indices, which depreciated by 0.29 per cent, 0.74 per cent, 0.86 per cent, 3.45 per cent, and 0.32 per cent respectively while the Main Board, Asem, Growth and sovereign bond indices closed flat.
