By Dipo Olowookere
Despite opening its doors for business in three days last week, the Nigerian Exchange (NGX) Limited recorded an improvement in trading activities compared with the preceding week, which had five trading sessions.
Business Post reports that the stock exchange was functional for three trading days in the week due to the public holidays declared by the federal government on Monday, June 17 and Tuesday, June 18, 2024, to celebrate Eid-el-Kabir observed by Muslims.
A total of 3.301 billion shares worth N53.157 billion were traded in 27,536 deals versus the 2.633 billion shares valued at N43.652 billion transacted in 33,709 deals a week earlier.
Financial equities dominated the activity chart with 3.040 billion units worth N46.362 billion traded in 13,695 deals, contributing 92.12 per cent and 87.22 per cent to the total trading volume and value, respectively.
Conglomerates shares trailed with 74.051 million units worth N867.880 million in 1,906 deals, and ICT stocks transacted 44.909 million units worth N1.412 billion in 2,136 deals.
Fidelity Bank, FBN Holdings and Veritas Kapital Assurance accounted for 2.469 billion shares worth N37.405 billion in 3,006 deals, contributing 74.80 per cent and 70.37 per cent to the total trading volume and value, respectively.
During the week 53 equities appreciated compared with 51 equities in the previous week, 25 shares depreciated versus 24 shares a week earlier, and 76 stocks closed flat versus 79 stocks in the preceding week.
Champion Breweries topped the gainers’ chart after rising by 32.54 per cent to N3.91, Veritas Kapital gained 31.08 per cent to 97 Kobo, Chams rose by 23.16 per cent to N2.34, Thomas Wyatt expanded by 20.69 per cent to N2.10, and John Holt grew by 20.69 per cent to N2.61.
On the flip side, NEM Insurance topped the losers’ chart after it fell by 17.28 per cent to N7.90, Regency Assurance shed 10.64 per cent to 42 Kobo, Transcorp Hotels lost 9.98 per cent to trade at N90.00, Multiverse declined by 9.68 per cent to N11.20, and Caverton went down by 9.62 per cent to N1.41.
When trading activities ended last Friday for the week, the All-Share Index (ASI) and the market capitalization were down by 0.18 per cent each to 99,743.05 points and N56.424 trillion, respectively.
Also, all other indices finished lower except the Main Board, Pension, AFR Bank Value, MERI Growth, consumer goods, energy, Lotus II, industrial goods, Growth and sovereign bond indices, which gained 0.18 per cent, 0.20 per cent, 1.12 per cent, 1.07 per cent, 0.29 per cent, 0.21 per cent, 0.58 per cent, 0.10 per cent, 0.17 per cent and 9.80 per cent, respectively while the ASeM index closed flat.
Adedapo Adesanya