Dipo Olowookere
By Dipo Olowookere
Last week, investors cut down their exposure to Nigerian stocks, with 756.769 million units worth N13.653 billion transacted in 18,248 deals compared with the 1.241 billion units worth N15.668 billion transacted in 18,560 deals a week earlier.
However, the All-Share Index (ASI) and the market capitalisation of the Nigerian Exchange (NGX) Limited appreciated in the week by 0.12 per cent to 52,657.88 points and N28.681 trillion, respectively.
Similarly, all other indices finished higher with the exception of NGX 30, NGX CG, NGX Premium, NGX MERI Growth, consumer goods and sovereign bond indices which depreciated by 0.07 per cent, 0.05 per cent, 0.45 per cent, 1.21 per cent, 1.09 per cent and 2.30 per cent apiece, the ASeM index closed flat.
Business Post reports that the marginal week-on-week growth posted by the exchange was influenced by buying interest in financial shares, which led the activity chart with 454.718 million units valued at N4.813 billion in 8,214 deals, contributing 60.09 per cent and 35.26 per cent to the total weekly trading volume and value, respectively.
ICT equities followed with 61.735 million units worth N1.647 billion in 1,600 deals, as the third place was the conglomerates stock, which transacted 56.842 million units worth N119.141 million in 622 deals.
FBN Holdings, GTCO and Fidelity Bank exchanged 165.522 million shares worth N2.320 billion in 2,530 deals, contributing 21.87 per cent and 16.99 per cent to the total trading volume and value, respectively.
In the week, 44 equities were on the gainers’ chart compared with 39 equities in the previous week, 29 equities closed on the losers’ table compared with 30 equities in the preceding week, while 84 equities remained unchanged versus 88 equities recorded in the previous week.
Tripple Gee was the best-performing stock in the five-day trading week after it grew by 31.25 per cent to N1.05. International Energy Insurance appreciated by 28.57 per cent to 63 Kobo, Chellarams rose by 23.97 per cent to N1.81, Mutual Benefits improved by 23.33 per cent to 37 Kobo, and ABC Transport expanded by 17.24 per cent to 34 Kobo.
The worst-performing stock last week was CWG, which lost 13.46 per cent to trade at 90 Kobo, Nigerian Breweries fell by 9.69 per cent to N41.95, Thomas Wyatt dropped 9.66 per cent to N1.31, Courteville went down by 6.00 per cent to 47 Kobo, and Industrial and Medical Gases shed 5.41 per cent to N7.00.
