FTN Cocoa, Unity Bank Shares Jump Over 40% Each in One Week

June 19, 2023
FTN Cocoa Processors

By Dipo Olowookere

The shares of FTN Cocoa, Unity Bank and Coronation Insurance appreciated by more than 40 per cent last on the floor of the Nigerian Exchange (NGX) Limited on renewed confidence in the market.

Data from the exchange showed that FTN Cocoa rose by 45.16 per cent in the four-day trading week to settle at N1.35, Unity Bank grew by 41.67 per cent to N1.02, Coronation Insurance expanded by 40.43 per cent to 66 Kobo, Transcorp Hotels improved by 37.35 per cent to N14.60, and Jaiz Bank increased by 30.83 per cent to N1.74.

On the flip side, The Initiates depreciated by 25.00 per cent to 39 Kobo, John Holt went down by 17.86 per cent to N1.15, ABC Transport shrank by 12.82 per cent to 34 Kobo, Ellah Lakes shed 10.00 per cent to N3.60, and CWG also lost 10.00 per cent to trade at N1.62.

When the market closed for the week last Friday, the price movement index was with 77 equities on the price gainers’ chart compared with 52 equities in the previous week. The price losers’ table closed with 24 stocks compared with 27 stocks in the previous week, as 55 shares closed flat compared with 77 shares of the preceding week.

Investors transacted 4.276 billion stocks worth N62.176 billion in 44,344 deals in the week compared with the 2.196 billion stocks worth N45.971 billion traded in 31,655 deals a week earlier.

The financial services industry led the activity chart with 3.303 billion shares valued at N45.244 billion traded in 23,490 deals, contributing 77.26 per cent and 72.77 per cent to the total trading volume and value, respectively.

The energy sector traded 247.383 million shares worth N2.368 billion in 3,561 deals, and the consumer goods industry transacted 223.315 million shares worth N4.640 billion in 5,982 deals.

UBA, GTCO, and Access Holdings accounted for 1.475 billion units worth N27.648 billion in 8,875 deals, contributing 34.50 per cent and 44.47 per cent to the total trading volume and value, respectively.

The All-Share Index (ASI) and the market capitalisation appreciated last week by 5.49 per cent each to 59,000.96 points and N32.126 trillion apiece.

Similarly, all other indices finished higher except industrial goods and growth indices, which fell by 1.63 per cent and 1.07 per cent, respectively, while the ASeM index closed flat.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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