FBN Holdings, UBA, GTCO Dominate Trading on NGX in Five Days

by - Dipo Olowookere /
27-September-2021
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By Dipo Olowookere

Last week, the trio of FBN Holdings, United Bank for Africa (UBA) and Guaranty Trust Holding Company (GTCO) dominated trading on the floor of the Nigerian Exchange (NGX) Limited.

The three equities accounted for 627.0 million units worth N5.8 billion in 2,526 deals, contributing 48.58 per cent and 41.42 per cent to the total trading volume and value respectively.

Business Post reports that in the week, investors transacted 1.3 billion shares worth N13.9 billion in 16,745 deals in contrast to the 856.3 million shares valued at N10.752 billion transacted in 15,663 deals in the preceding week.

A breakdown showed that financial stocks led the activity chart with 978.2 million stocks worth N8.3 billion traded in 8,716 deals, contributing 75.80 per cent and 59.62 per cent to the total trading volume and value respectively.

It was trailed by consumer goods equities with the sale of 62.0 million units for N1.2 billion in 2,546 deals, and the conglomerates shares with 49.1 million units valued at N126.3 million in 589 deals.

In the week, a total of 28 stocks closed on the gainers’ chart, higher than 21 stocks of the preceding week, while 23 equities were on the losers’ table, lower than 38 equities in the previous week, with 104 shares closing flat, higher than 96 of the earlier week.

Pharma Deko was the best-performing stock with a growth of 32.10 per cent to settle at N2.14. NAHCO grew by 15.13 per cent to N3.50, Conoil appreciated by 14.09 per cent to N25.50, Cornerstone Insurance rose by 11.54 per cent to 58 kobo, while Courtville gained 10.34 per cent to trade at 32 kobo.

Conversely, SCOA Nigeria was the worst-performing stock as it fell by 17.92 per cent to 87 kobo. Presco lost 8.18 per cent to trade at N73.00, Neimeth dropped 7.89 per cent to N1.75, Honeywell Flour declined by 5.00 per cent to N3.80, while Cutix went down by 4.12 per cent to N4.65.

At the close of transactions for the five-day trading week, the All-Share Index (ASI) and the market capitalisation slightly rose by 0.05 per cent to 38,962.28 points and N20.300 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX 30, NGX CG, banking, pension, NGX-AFR bank value, NGX AFR Div Yield, NGX MERI Value and consumer goods indices which depreciated by 0.04 per cent, 0.36 per cent, 0.43 per cent, 0.05 per cent, 0.72 per cent. 0.50 per cent, 0.75 per cent and 0.04 per cent respectively, while ASeM, growth and sovereign bond indices closed flat.

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