Appetite for FBNH, Transcorp, UBA Drive NGX’s 1.97% Weekly Growth

By Dipo Olowookere

Last week, the Nigerian Exchange (NGX) Limited reported a weekly growth, with the All-Share Index (ASI) rising by 1.97 per cent to 104,421.23 points, and the market capitalisation appreciating by 2.00 per cent to N57.158 trillion.

Also, all other indices finished higher except the NGX CG, banking, pension, insurance, AFR Bank Value, MERI growth, MERI value, energy, and the sovereign bond indices, which went down by 2.75 per cent, 4.52 per cent, 1.85 per cent, 4.07 per cent, 5.83 per cent, 5.70 per cent, 2.14 per cent, 2.47 per cent and 0.88 per cent, respectively.

In the week, investors transacted 3.893 billion stocks valued at N95.147 billion in 69,117 deals versus the 2.981 billion stocks worth N57.873 billion in 67,962 deals.

The financial services industry led the activity chart with 2.640 billion equities worth N47.654 billion in 31,929 deals, accounting for 67.81 per cent and 50.08 per cent of the total trading volume and value, respectively.

The energy sector trailed with 347.962 million shares worth N4.064 billion in 5,972 deals, and the third place was the conglomerates counter with 337.682 million stocks worth N4.709 billion in 5,493 deals.

Business Post reports that FBN Holdings, Transcorp, and UBA attracted the interest of investors, accounting for 961.288 million shares worth N21.390 billion in 9,966 deals, contributing 24.70 per cent and 22.48 per cent to the total trading volume and value apiece.

Data from the bourse revealed that 27 equities appreciated in price during the week versus 35 equities in the previous week, 64 equities depreciated in price versus 65 equities in the previous week, and 64 equities closed flat versus 55 equities in the previous week.

Tripple Gee recorded the biggest price gain with 42.05 per cent to N4.02, Meyer jumped by 20.79 per cent to N4.30, Cornerstone Insurance increased by 20.25 per cent to N1.90, Veritas Kapital and Juli went up by 18.64 per cent

each to 70 Kobo and 70 Kobo, respectively.

On the flip side, DAAR Communications posted the heaviest price depreciation by 22.22 per cent to 70 Kobo, Eterna shrank by 19.49 per cent to N22.10, Sunu Assurances declined by 19.11 per cent to N1.82, Deap Capital dropped 16.25 per cent to 67 Kobo, and May & Baker retreated by 16.00 per cent to N6.30.