FCMB, Access Holdings, Universal Insurance Lead Activity Chart in Five Days

By Dipo Olowookere

Last week on the floor of the Nigerian Exchange (NGX) Limited, the trio of FCMB, Access Holdings, and Universal Insurance led the activity chart with the sale of 1.249 billion shares worth N14.277 billion in 10,359 deals, contributing 39.17 per cent and 14.32 per cent to the total trading volume and value, respectively.

In the five-day trading week, investors bought and sold 3.188 billion shares valued at N99.685 billion in 132,711 deals compared with the 3.117 billion shares sold for N90.295 billion transacted in 118,018 deals in the preceding week.

Data showed that the financial services industry led the activity chart with 2.282 billion shares valued at N38.812 billion traded in 57,934 deals, contributing 71.59 per cent and 38.94 per cent to the total trading volume and value, respectively.

The consumer goods space recorded a turnover of 198.393 million shares worth N12.836 billion in 17,508 deals, and the energy sector transacted 186.744 million shares valued at N35.173 billion in 8,811 deals.

Business Post observed that Customs Street was busy last week because traders mopped up shares stocks trading at lower prices, resulting in the higher turnover, with the All-Share Index (ASI) and the market capitalisation growing by 1.12 per cent to 140,545.69 points and N88.922 trillion, respectively.

In the same vein, all other indices finished higher while the NGX AseM index closed flat.

eTranzact was the best-performing equity in the week rising by 45.15 per cent to sell for N14.95, Regency Assurance appreciated by 27.69 per cent to N1.66, Chellarams soared by 26.67 per cent to N13.50, DAAR Communications expanded by 23.26 per cent to N1.06, and Royal Exchange gained 22.34 per cent to trade at N2.30.

Conversely, Union Dicon slipped by 18.33 per cent to N9.80, Thomas Wyatt declined by 16.33 per cent to N2.51, Secure Electronic Technology slumped by 10.42 per cent to 86 Kobo, Nigerian Enamelware shrank by 10.00 per cent to N35.10, and May and Baker plunged by 9.97 per cent to N16.25.

At the close of business, 70 equities appreciated versus 19 equities in the previous week, 22 stocks depreciated versus 64 stocks a week earlier, and 55 shares closed flat versus 64 shares in the preceding week.