Investors Mop up Zenith Bank, UBA, Law Union Shares

By Modupe Gbadeyanka

There were heavy activities around shares of Law Union and Rock Insurance, Zenith Bank and United Bank of Africa (UBA) on the floor of the Nigerian Stock Exchange (NSE) last week.

Data obtained by Business Post from the NSE showed that the three publicly listed companies were the most traded in the five-day trading week by volume, accounting for 369.4 million units sold for N3.1 billion in 3,360 deals, contributing 31.80 percent and 23.43 percent to the total equity turnover volume and value respectively.

According to the data, a total of 1.2 billion shares worth N13.2 billion were traded by investors in 18,142 deals last week at the exchange in contrast to 1.4 billion units valued at N17.3 billion transacted a week earlier in 20,303 deals.

Also, stocks in the financial services industry led the activity chart by volume with 801.2 million units worth N6.2 billion carried out in 10,415 deals, contributing 68.98 percent and 47.20 percent to the total equity turnover volume and value respectively.

Equities in the conglomerate sector followed with 139.9 million units worth N585.9 million in 943 deals, while shares in the consumer goods space trailed with a turnover of 84.6 million units valued at N3.5 billion traded in 2,674 deals.

During the week, the All-Share Index (ASI) and market capitalisation appreciated by 0.04 percent to close at 27,002.15 points and N13.033 trillion respectively.

All other indices finished lower with the exception of NSE main board, NSE-AFR Div Yield, NSE Meri Growth, NSE Consumer Goods, NSE Lotus II and NSE Industrial Goods indices, which appreciated by 1.83 percent, 2.21 percent 1.81 percent, 4.69 percent, 2.72 percent and 0.35 percent respectively, while the NSE ASeM Index closed flat.

A total of 31 equities appreciated in price during the week, lower than 40 equities in the previous week, while 32 equities depreciated in price, higher than 23 equities in the previous week, with 102 equities remaining unchanged, same as 102 equities recorded in the preceding week.

Neimeth International Pharmaceutical, A.G. Leventis Nigeria, Royal Exchange, LASACO Assurance and UAC Nigeria were the highest price gainers last week, rising by 30.36 percent, 20.00 percent, 15.00 percent, 13.04 percent and 11.89 percent respectively.

On the flip side, FBN Holdings lost 10.67 percent, C&I Leasing depreciated by 9.85 percent, Okomu Oil fell by 9.73 percent, Ikeja Hotel lost 9.60 percent, while Afromedia depreciated by 8.11 percent.