Investors Buy, Sell 1.741 billion Shares Worth N25.087bn in Five Days

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited witnessed the exchange of 1.741 billion shares worth N25.087 billion in 30,652 deals last week, lower than the 2.575 billion shares valued at N29.615 billion traded in the preceding week in 37,713 deals.

Investors pulled back from the market after having second thoughts on their exposure to local stocks, especially because of the happenings in the foreign exchange (FX) market.

However, the bourse managed to stay positive on a week-on-week basis, as the All-Share Index (ASI) grew by 0.20 per cent to 65,325.37 points, and the market capitalisation increased by 0.26 per cent to N35.572 trillion due to the listing of additional Fidelity Bank stocks last Friday.

Similarly, all other indices finished higher with the exception of the NGX Main Board, NGX AFR Dividend Yield, MERI Growth, consumer goods, energy, Lotus II, and industrial goods indices, which depreciated by 0.10 per cent, 1.60 per cent, 0.40 per cent, 0.92 per cent, 0.32 per cent, 0.09 per cent, and 0.39 per cent, respectively, the NGX ASeM index closed flat.

Like in the preceding week, the financial services sector topped the activity chart with 1.244 billion shares valued at N12.616 billion traded in 13,398 deals, contributing 71.43 per cent and 50.29 per cent to the total trading volume and value apiece.

The conglomerates industry followed with 133.034 million shares worth N575.673 million in 1,572 deals, while the ICT counter transacted 87.649 million shares worth N2.292 billion in 2,404 deals.

Sterling Holdings, FBN Holdings, and Universal Insurance accounted for 518.847 million shares worth N3.917 billion in 1,901 deals, contributing 29.80 per cent and 15.61 per cent to the total trading volume and value, respectively.

Business Post reports that 41 equities appreciated in price last week compared with 42 equities in the previous week, 44 equities depreciated in price versus 52 equities in the preceding week, while 70 equities remained unchanged, in contrast to 62 equities a week earlier.

Guinea Insurance improved by 50.00 per cent to 39 Kobo, The Initiates rose by 30.56 per cent to 94 Kobo, Chellarams appreciated by 29.79 per cent to N4.40, Sunu Assurances grew by 23.66 per cent to N1.15, and Cornerstone Insurance jumped by 21.65 per cent to N1.18.

Conversely, John Holt lost 18.37 per cent to quote at N1.20, Dangote Sugar shed 12.00 per cent to N33.00, RT Briscoe depleted by 10.42 per cent to N43 Kobo, CAP declined by 10.00 per cent to N19.80, and NASCON slumped by 10.00 per cent to N36.90.