By Dipo Olowookere
Investors cut down their exposure to equities last week for investments in low-risk assets like treasury bills and bonds in the money market.
Data from the Nigerian Exchange (NGX) Limited showed that 1.703 billion shares worth N30.495 billion exchanged hands in 37,765 deals in the five-day trading week versus the 2.189 billion shares worth N31.303 billion transacted a week earlier in 39,362 deals.
This happened as the bourse suffered a week-on-week loss of 0.08 per cent, bringing down the All-Share Index (ASI) and the market capitalisation to 99,221.14 points and N56.128 trillion, respectively.
Also, all other indices finished lower except the Main Board, insurance and consumer goods indices, which gained 0.08 per cent, 0.84 per cent and 0.33 per cent, respectively, while the ASeM, industrial goods and sovereign bond indices closed flat.
It was observed that the financial services industry dominated the activity chart in the week with 1.222 billion stocks valued at N15.876 billion in 18,782 deals, contributing 71.77 per cent and 52.06 per cent to the total trading volume and value apiece.
It was followed by the energy space with 171.174 million equities worth N3.549 billion in 3,699 deals and the consumer goods sector with 116.145 million shares worth N4.434 billion in 4,163 deals.
Fidelity Bank, Access Holdings, and Veritas Kapital Assurance accounted for 583.809 million shares worth N5.740 billion in 4,733 deals, contributing 34.28 per cent and 18.82 per cent to the total trading volume and value, respectively.
Business Post reports that 35 equities appreciated last week versus 45 equities in the previous week, 37 stocks depreciated versus 25 stocks a week earlier, and 82 shares closed flat versus 84 stocks in the preceding week.
RT Briscoe topped the gainers’ table after chalking up 25.00 per cent to finish at 60 Kobo, Oando rose by 23.73 per cent to N14.60, Eterna expanded by 22.45 per cent to N15.00, Deap Capital grew by 20.00 per cent to 48 Kobo, and Red Star Express jumped by 15.73 per cent to N3.90.
On the flip side, Unity Bank declined by 21.57 per cent to N1.20, Sovereign Trust Insurance declined by 13.64 per cent to 38 Kobo, Transcorp lost 11.21 per cent to N10.30, Sunu Assurances weakened by 10.85 per cent to N1.15, and Prestige Assurance slipped by 10.71 per cent to 50 Kobo.
