Goldlink Insurance, Japaul, 47 Others Emerge Worst Performing Stocks

May 12, 2019
Goldlink Insurance, Japaul, 47 Others Emerge Worst Performing Stocks

By Dipo Olowookere

A total of 49 equities depreciated on the floor of the Nigerian Stock Exchange (NSE) last week, higher than 44 equities of the previous week.

Leading the losers’ chart in the week was Goodlink Insurance, which depreciated by 36.11 percent or 13 kobo to close at 23 kobo per unit.

It was followed by Japaul Oil, which went down by 33.33 percent or 13 kobo to finish at 26 kobo per unit, and Neimeth International Pharmaceuticals, which lost 25.37 percent or 17 kobo to settle at 50 kobo per share.

Caverton declined by 18 percent or 54 kobo to finish at N2.46k per unit, while Ikeja Hotel depreciated by 17.14 percent or 30 kobo to end at N1.45k per unit.

At the other side, Beta Glass dominated the gainers’ chart, appreciating by 23.13 percent or N12.95k to end at N68.95k per share.

It was trailed by Courteville, which rose by 13.64 percent or 3 kobo to finish at 25 kobo per unit, and NEM Insurance, which increased its share value by 13.12 percent or 29 kobo to close at N2.50k per unit.

Regency Assurance gained 8.70 percent or 2 kobo to settle at 25 kobo per share, while Sovereign Trust Insurance also improved by 8.70 percent or 2 kobo to close at 25 kobo per unit.

Business Post reports that during the week, a total turnover of 1.5 billion shares worth N10.9 billion in 20,740 deals were traded by investors same as a total of 1.5 billion shares valued at N15.5 billion that transacted the previous week in 18,092 deals.

It was observed that the financial services industry, measured by volume, led the activity chart with 919.6 million shares valued at N7.5 billion traded in 11,975 deals, contributing 62.28 percent and 69.36 percent to the total equity turnover volume and value respectively.

The ICT sector followed with 204 million shares worth N58.8 million in 570 deals, while the third place was Oil and Gas industry with a turnover of 154.6 million shares worth N251.8 million in 1,735 deals.

Trading in Access Bank, Courtville Business Solutions and United Bank for Africa accounted for 503.7 million shares worth N2.3 billion in 2,754 deals, contributing 34.11 percent and 21.50 percent to the total equity turnover volume and value respectively.

An analysis of the market indices showed that the All-Share Index (ASI) and market capitalisation depreciated by 1.25 percent to close the week at 28,847.81 points and N10.842 trillion respectively.

Similarly, all other indices finished lower with the exception of the ASeM Index, which closed flat.

Also traded during the week were a total of 97,154 units of Exchange Traded Products (ETPs) valued at N1.318 million executed in 2deals compared with a total of 1.190 million units valued at N10.967 million transacted in the previous week in 12 deals.

In addition, a total of 265 units of Federal Government Bonds valued at N281,654.91 were traded in the week in 5 deals compared with a total of 14,589 units valued at N15.164 million transacted a week earlier in 12 deals.

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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