Dipo Olowookere
By Dipo Olowookere
The trio of FBN Holdings, GTCO and Sterling Bank contributed 45.85 per cent and 30.63 per cent to the total trading volume and value of shares transacted on the floor of the Nigerian Exchange (NGX) Limited last week.
In the week, the three companies traded 638.3 million shares worth N8.5 billion in 4,116 deals.
According to data from the exchange, investors exchanged 1.4 billion shares worth N27.9 billion in 19,990 deals in the five-day trading week in contrast to the 1.5 billion shares worth N20.9 billion transacted in 20,410 deals a week earlier.
A breakdown showed that financial stocks topped the activity chart with 1.1 billion units valued at N11.6 billion in 11,612 deals, accounting for 77.72 per cent and 41.52 per cent of the total trading volume and value respectively, followed by consumer goods shares with 105.8 million units worth N11.8 billion in 2,657 deals, and conglomerates equities with 56.1 million units worth N73.7 million in 575 deals.
Business Post reports that the market was depressed last week as the All-Share Index and market capitalisation depreciated by 0.12 per cent to close the week at 43,199.27 points and N22.554 trillion respectively.
Similarly, all other indices finished lower with the exception of NGX-main board and sovereign bond indices, which appreciated by 0.41 per cent and 1.40 per cent respectively, while the ASeM and growth indices closed flat.
A total of 15 stocks appreciated in price during the week, lower than 27 stocks in the previous week, while 49 stocks depreciated in price, higher than 36 stocks of the preceding week, with 92 stocks closing flat, lower than the 93 stocks of the earlier week.
Cutix was the biggest price loser as it shed 42.68 per cent to close at N3.21, followed by NGX Group, which lost 11.88 per cent to trade at N15.95.
Total Energies declined by 9.97 per cent to N216.80, Neimeth fell by 9.09 per cent to N1.80, while Eterna depreciated by 9.03 per cent to N6.65.
However, the highest price gainer for the week was Vitafoam as its value rose by 17.11 per cent, followed by eTranzact, which gained 10.00 per cent to finish at N2.09.
Prestige Assurance appreciated by 9.30 per cent to 47 kobo, Academy Press improved by 9.09 per cent to 36 kobo, while Cornerstone Insurance chalked up 7.69 per cent to sell for 56 kobo.
