Dipo Olowookere
By Dipo Olowookere
Despite opening its doors to investors for three days, the Nigerian Exchange (NGX) Limited recorded a significant trading volume and value last week, almost at par with the preceding week, which had five trading sessions.
The federal government declared last Wednesday and Thursday as public holidays to celebrate Eid-el Kabir, a festival observed by Muslim faithful across the globe.
However, because of the renewed interest in equities, the bourse printed the exchange of 2.314 billion shares worth N41.547 billion in 28,095 deals compared with the trading of 3.369 billion stocks worth N41.986 billion in 39,764 deals.
The financial services industry led the activity chart with 1.715 billion shares valued at N24.652 billion traded in 14,227 deals, contributing 74.09 per cent and 59.33 per cent to the total trading volume and value, respectively.
The conglomerates sector followed with 98.423 million shares worth N379.169 million in 1,176 deals, while the third place was the consumer goods counter, which posted the sale of 96.885 million shares worth N2.216 billion in 3,470 deals.
Access Holdings, UBA, and GTCO were the busiest stocks last week as they printed 844.596 million units worth N16.302 billion in 5,493 deals, contributing 36.49 per cent and 39.24 per cent to the total trading volume and value, respectively.
Ikeja Hotel topped the gainers’ chart after it rose by 33.00 per cent to N3.99, Transcorp Hotels appreciated by 32.95 per cent to N23.40, Eterna gained 32.49 per cent to N21.00, Sterling Holdings expanded by 30.74 per cent to N3.36, and Chams increased by 29.82 per cent to 74 Kobo.
Conversely, Secure Electronic Technology topped the losers’ group after it shed 13.16 per cent to 33 Kobo, Guinea Insurance lost 12.50 per cent to trade at 21 Kobo, Universal Insurance decreased by 12.50 per cent to 21 Kobo, Sovereign Trust Insurance went down by 10.91 per cent to 49 Kobo, and Pharma-Deko declined by 10.00 per cent to N1.80.
In the week, 77 stocks appreciated compared with 62 stocks in the previous week, while 59 shares depreciated in price compared with 35 shares in the preceding week, with 20 equities closing flat versus 59 equities a week earlier.
Business Post reports that the All-Share Index (ASI) and the market capitalisation appreciated by 2.98 per cent in the week to 60,968.27 points and N33.198 trillion apiece.
Similarly, all other indices finished higher except the ASeM and sovereign bond indices, which closed flat.
