By Dipo Olowookere
A total of 1.6 billion shares worth N18.4 billion were exchanged by investors last week on the floor of the Nigerian Exchange (NGX) Limited in 21,621 deals.
When compared with the preceding week, it was lower because market participants transacted 2.8 billion shares valued at N31.7 billion in 23,355 deals.
One factor that may have caused this decline in the activity level was the closure of the market last Tuesday as a result of the public holiday declared by the federal government to commemorate the Islamic festival of Eid-el-Maulud. This means the market only operated for four days last week.
Analysis showed that financial stocks maintained its lead on the activity chart with the sale of 1.2 billion units worth N12.8 billion traded in 13,272 deals, contributing 75.38 per cent and 69.33 per cent to the total trading volume and value respectively.
It was followed by ICT equities with a turnover of 131.6 million units worth N2.2 billion in 636 deals, and conglomerates stocks with a turnover of 110.8 million units worth N262.2 million in 928 deals.
The trio of FBN Holdings, e-Tranzact International and Access Bank was the most active stocks with the sale of 626.9 million units valued at N6.3 billion in 3,677 deals, accounting for 40.07 per cent and 34.29 per cent of the trading volume and value respectively.
On the price movement table, 34 stocks were on the gainers’ log, lower than the 45 stocks in the previous week, while 36 stocks were on the losers’ chart, higher than 15 stocks of the earlier week, with 86 stocks closing flat, lower than 95 of the preceding week.
The highest price gainer was NGX Group as it rose by 23.94 per cent to trade at N22.00. Cutix gained 21.00 per cent to close at N6.05, Unilever Nigeria appreciated by 9.85 per cent to finish at N14.50, Custodian Investment rose by 9.59 per cent to N8.00, while Ecobank grew by 9.42 per cent to N7.55.
On the other hand, the highest price loser was Royal Exchange after its value went down by 17.19 per cent to 53 kobo. Universal Insurance dropped 9.09 per cent to 20 kobo, The Initiates fell by 8.51 per cent to 43 kobo, Academy Press depreciated by 8.33 per cent to 33 kobo, while May & Baker decreased by 8.02 per cent to N4.36.
When the market closed for the week last Friday, the All-Share Index (ASI) and market capitalisation appreciated by 0.78 per cent to 41,763.26 points and N21.794 trillion respectively.
However, all other indices finished lower with the exception of main board, NGX 30, banking, energy, industrial goods and sovereign bond indices which jumped by 1.64 per cent, 0.80 per cent, 0.69 per cent, 1.40 per cent, 2.59 per cent and 0.03 per cent respectively, while the ASeM index closed flat.
