GTBank, Two Others Account for 50.87% of NSE Weekly Trading Value

By Modupe Gbadeyanka

Last week, investors at the Nigerian Stock Exchange (NSE) transacted 1.5 billion shares worth N19.7 billion in 20,552 deals in contrast to the previous week’s 2.0 billion equities valued at N23.0 billion traded in 22,844 deals.

A breakdown of these transactions showed that GTBank, Access Bank and UBA accounted for 633.5 million shares worth N10.0 billion in 3,887deals, contributing 42.08 per cent and 50.87 per cent to the total trading volume and value respectively.

By sector, the activity chart was led by the financial services, which traded 1.2 billion units worth N15.0 billion in 11,318 deals, contributing 79.47 per cent and 76.01 per cent to the total equity turnover volume and value respectively.

The conglomerates trailed for trading 97.2 million units valued at N269.1 million in 516 deals, while the consumer goods recorded a turnover of 77.6 million units worth N1.9 billion in 3,461 deals.

A total of 28 equities appreciated in price during the week marred by unrest in the country, lower than 35 equities in the previous week, while 35 stocks depreciated in price, higher than 23 shares of the preceding week, with 99 equities closing flat, lower 104 recorded a week earlier.

Leading the top five price gainers’ chart was International Breweries, which gained 18.20 per cent to settle at N6.30 per share.

Cutix increased its share price by 17.28 per cent to close at N1.90 per share, NASCON chalked up 10.00 per cent to end at N14.30 per share, Japaul Oil appreciated by 10.00 per cent to finish at 22 kobo per share, while Ikeja Hotel gained 9.90 per cent to close at N1.11 per share.

On the losers’ table, Northern Nigerian Flour Mills led with a price depreciation of 9.89 per cent to close at N4.19 per share.

Linkage Assurance declined by 9.09 per cent to finish at 40 kobo per share, Eterna depreciated by 8.98 per cent to end at N4.46 per share, Regency Assurance dropped 8.33 per cent to close at 22 kobo per share, while Royal Exchange deflated by 8.00 per cent to 23 kobo per share.

Business Post reports that the All-Share Index (ASI) and market capitalisation of the local exchange both recorded a weekly growth of 0.13 per cent to close at 28,697.06 points and N15.000 trillion respectively.

All other indices finished lower with the exception of NSE-Main Board, NSE 30, NSE MERI Growth and NSE consumer goods which appreciated by 0.79 per cent, 0.14 per cent, 0.68 per cent and 2.86 per cent while the NSE ASeM index closed flat.