By Dipo Olowookere
A total of 1.5 billion shares worth N19.0 billion were traded in 17,400 deals by investors at the Nigerian Stock Exchange (NSE) last week, which only had four trading sessions.
In the preceding week, which had five sessions, market participants transacted 1.5 billion shares valued at N21.3 billion executed in 20,016 deals.
Analysis showed that financial stocks accounted for 1.0 billion units worth N13.4 billion traded in 9,179 deals, contributing 71.51 per cent and 70.22 per cent to the total trading volume and value respectively.
Equities in the conglomerate sector recorded 131.2 million shares worth N578.4 million traded in 811 deals, while shares in the consumer goods industry recorded 92.9 million shares worth N1.8 billion carried out in 2,892 deals.
A further breakdown indicated that GTBank, Union Bank and Wema Bank were the most active stock at the market in the week, accounting for 670.4 million shares worth N10.3 billion in 1,990 deals, contributing 46.39 per cent and 54.26 per cent to the total trading volume and value respectively.
A total of 42 equities appreciated in price during the week, lower than 48 equities in the previous week, while 22 equities depreciated in price, higher than 18 equities in the previous week, with 98 equities closing flat, higher than 96 equities recorded in the previous week.
Linkage Assurance was the best-performing stock as its value went up by 41.18 per cent to 72 kobo and was trailed by Royal Exchange, which grew by 37.50 per cent to 33 kobo.
Guinness Nigeria appreciated by 19.67 per cent to N35.90, Meyer gained 19.51 per cent to sell for 49 kobo, while Custodian Investment rose by 18.33 per cent to N7.10.
On the flip side, the worst-performing stock in the week was Daar Communications as its equity value depreciated by 16.00 per cent to 21 kobo.
Regency Assurance lost 12.12 per cent to close at 29 kobo, FTN Cocoa fell by 8.70 per cent to 42 kobo, University Press declined by 7.76 per cent to N1.07, while Unity Bank dropped 6.67 per cent to 70 kobo.
In the week, the All-Share Index (ASI) and market capitalisation depreciated by 0.76 per cent to close at 38,916.74 points and N20.361 trillion respectively.
All other indices finished lower with the exception of NSE mainboard, NSE Pension, insurance, NSE AFR Div Yield, NSE MERI Value and NSE consumer goods indices, which appreciated by 0.06 per cent, 0.78 per cent, 2.82 per cent, 2.64 per cent, 1.82 per cent and 1.93 per cent respectively while the NSE ASeM index closed flat.
Like last week, which had only four trading sessions, this week will also witness only for trading days because of the public holidays declared by the federal government on Friday, April 2 (Good Friday) and Monday, April 5, 2021 (Easter Monday) to commemorate the 2021 Easter celebrations.
The blockchain brings new financing options to the business market. For example, Bitcoin Cash casino has adapted to only using cryptocurrency. This way, it makes it easier for their customers to deposit and withdraw in a BCH casino. Entrepreneurs have taken note of this and are looking to invest more in crypto than in fiat markets.
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