Dipo Olowookere
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited came under selling pressure last after investors decided to book profit but despite this, it came out stronger as it closed 0.36 per cent higher last Friday.
Data obtained by Business Post showed that the All-Share Index (ASI) closed at 47,437.48 points compared with the preceding week’s 47,268.61 points, while the market capitalisation appreciated to N25.566 trillion from N25.475 trillion.
Similarly, all other indices finished higher with the exception of consumer goods, oil/gas and industrial goods sectors, which depreciated by 0.52 per cent, 2.22 per cent and 0.13 per cent respectively, while AseM, growth and sovereign bond indices closed flat.
A total of 36 Nigerian equities appreciated in price last week, higher than 22 equities in the previous week, while 33 equities depreciated in price, lower than 49 equities in the previous week, with 87 equities remaining unchanged, higher than 85 equities recorded in the previous week.
Presco topped the gainers’ chart with a price appreciation of 19.62 per cent to finish at N125.00, followed by RT Briscoe, which gained 15.87 per cent to sell for 73 kobo.
Cornerstone Insurance improved by 15.63 per cent to 74 kobo, UAC Nigeria rose by 14.52 per cent to N10.65, while Consolidated Hallmark Insurance expanded by 10.17 per cent to 65 kobo.
The biggest price loser for the week was Ellah Lakes after its value shed 18.54 per cent to N3.12, followed by May & Baker, which lost 18.35 per cent to trade at N4.45.
University Press depreciated y 14.43 per cent to N2.49, Royal Exchange declined by 10.37 per cent to N1.21, while Linkage Assurance retreated by 10.34 per cent to 52 kobo.
In the week, investors traded 2.8 billion shares worth N23.9 billion in 22,970 deals compared with the 1.4 billion shares valued at N23.8 billion traded a week earlier in 28,809 deals.
Financial stocks led the activity chart with 2.4 billion units worth N14.0 billion transacted in 11,900 deals, contributing 85.69 per cent and 58.80 per cent to the total trading volume and value respectively.
It was followed by conglomerates shares with a turnover of 73.4 million units worth N305.944 million exchanged in 996 deals, and consumer goods equities with the sale of 60.8 million units worth N3.1 billion traded in 2,707 deals.
The trio of FCMB, Unity Bank and FBN Holdings was the busiest stocks for the week, trading 1.6 billion units valued at N5.5 billion traded in 1,395 deals, contributing 58.36 per cent and 22.99 per cent to the total equity turnover volume and value respectively.
