Investors Stake N75.745bn on 6.468 billion Stocks in Five Days

By Dipo Olowookere

Last week, investors bought and sold 6.468 billion shares worth N75.745 billion in 48,804 deals compared with the 2.717 billion shares valued at N54.632 billion traded in 46,848 deals in the preceding week.

The financial services industry led the activity chart with 5.666 billion stocks valued at N44.263 billion traded in 23,268 deals, contributing 87.60 per cent and 58.44 per cent to the total trading volume and value, respectively.

The energy sector followed with 245.722 million stocks worth N15.877 billion in 9,057 deals, and the third place was the agriculture counter with 216.422 million stocks sold for N1.087 billion in 1,653 deals.

Sovereign Trust Insurance, Consolidated Hallmark and UBA accounted for 3.839 billion equities worth N20.905 billion in 5,652 deals, contributing 59.36 per cent and 27.60 per cent to the total trading volume and value, respectively.

The week was marred with selling pressure, leaving the All-Share Index and the market capitalisation of the Nigerian Exchange (NGX) Limited depressed by 0.20 per cent to 97,236.19 points and N58.920 trillion, respectively.

All other indices finished higher with the exception of NGX Main Board, NGX 30, Lotus II and the industrial goods which depreciated by 0.48 per cent, 0.17 per cent, 0.08 per cent, and 0.02 per cent, respectively while the ASeM index closed flat.

Business Post reports that 31 equities appreciated during the week versus 39 equities in the preceding week, 42 equities depreciated versus 45 equities in the previous week, and 79 equities remained unchanged, in contrast to 68 equities a week earlier.

Eunisell topped the gainers’ chart after it grew by 45.91 per cent to N8.20, John Holt gained 45.76 per cent to trade at N4.81, Conoil rose by 37.35 per cent to N260.00, Sovereign Trust Insurance chalked up 21.05 per cent to quote at 69 Kobo, and Consolidated Hallmark jumped by 14.86 per cent to N1.70.

Oando, on its part, topped the losers’ gang after it shed 21.97 per cent to settle at N69.95, Abbey Mortgage Bank declined by 18.15 per cent to N2.66, Deap Capital weakened by 14.40 per cent to N1.07, Tantalizers crumbled by 12.50 per cent to 56 Kobo, and Meyer retreated by 9.98 per cent to N7.67.