Investors Stake N13.6bn on Local Equities in Five Days

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By Dipo Olowookere

The value of transactions on the floor of the Nigerian Exchange (NGX) Limited last week increased to N13.547 billion from the previous week’s N12.850 billion, data harvested by Business Post revealed.

The increase in the trading value was mainly boosted by profit-taking witnessed in the week, causing the bourse to fall by 2.09 per cent, with the All-Share Index (ASI) and market capitalisation depreciating to 49,664.07 points and N26.787 trillion respectively.

Similarly, all other indices finished lower with the exception of the insurance, consumer goods and growth indices, which appreciated by 6.00 per cent, 3.00 per cent and 1.56 per cent, while the ASeM index closed flat.

In the week, investors bought and sold 1.511 billion shares in 20,074 deals in contrast to the 705.636 million shares traded in 22,124 deals a week earlier.

Financial equities were the busiest with 680.202 million units valued at N4.672 billion in 9,230 deals, contributing 45.02 per cent and 34.48 per cent to the total trading volume and value respectively. Services stocks followed with 499.178 million units worth N3.407 billion in 866 deals, while ICT shares traded 113.804 million units valued at N2.246 billion in 2,083 deals.

A further breakdown showed that Capital Hotel, FBN Holdings and Jaiz Bank accounted for 763.836 million shares worth N5.130 billion in 1,025 deals, contributing 50.55 per cent and 37.87 per cent to the total trading volume and value respectively.

Last week, 33 stocks were on the gainers’ chart compared with 41 stocks of the previous week, 26 stocks depreciated in value versus 22 in the previous week, while 97 equities closed flat as against the 93 equities recorded in the previous week.

Ikeja Hotel was the best-performing stock, appreciating by 30.93 per cent to N1.27 and was trailed by Multiverse, which rose by 29.79 per cent to N2.44. NEM Insurance improved by 29.71 per cent to N4.41, Courteville expanded by 19.15 per cent to 56 Kobo, while Chams rose by 12.00 per cent to 28 Kobo.

On the flip side, Cutix was the worst-performing stock, losing 14.58 per cent to trade at N2.05 and was followed by Caverton, which shed 10.26 per cent to N1.05. BUA Cement depreciated by 9.95 per cent to N52.95, IMG Nigeria fell by 9.84 per cent to N8.25, while Stanbic IBTC depleted by 9.68 per cent to N28.00.

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