Investors Trade 1.186 billion Stocks Worth N31.4bn in Three Days

January 2, 2024
over-the-counter stock exchange

By Dipo Olowookere

A total of 1.186 billion stocks worth N31.425 billion were exchanged in 23,969 deals last week versus the 2.474 billion stocks worth N53.787 billion transacted in 35,848 deals in the preceding week.

The reason for the decline in trading activities was that in the week under review, the Nigerian Exchange (NGX) Limited only operated for three days due to the public holidays observed on Monday, December 25, and Tuesday, December 26, 2023, to commemorate the Christmas celebration.

Jaiz Bank, Zenith Bank and Transcorp were the busiest shares last week at the exchange, trading 244.764 million units valued at N3.500 billion in 3,630 deals, contributing 20.64 per cent and 11.14 per cent to the total trading volume and value, respectively.

Financial equities led the activity chart with 722.186 million units sold for N9.489 billion in 10,892 deals, contributing 60.89 per cent and 30.20 per cent to the total trading volume and value apiece.

Shares in the conglomerates sector followed with 97.336 million units worth N988.128 million in 2,114 deals, while stocks in the services industry recorded the sale of 74.364 million units worth N440.206 million in 1,595 deals.

On the price movement chart, 65 shares gained weight versus 55 shares of the preceding week, 24 equities lost weight versus 35 equities of the previous trading week, and 66 stocks remained unchanged versus 65 stocks of the earlier week.

The biggest price gainer was Multiverse, which grew by 32.93 per cent to N18.57, Industrial and Medical Gases jumped by 32.51 per cent to N13.45, Infinity Trust Mortgage Bank rose by 32.45 per cent to N6.00, DAAR Communications appreciated by 30.43 per cent to 90 Kobo, and UPDC REIT chalked up 29.29 per cent to sell for N6.40.

The heaviest price loser for the week was Deap Capital, which fell by 15.94 per cent to 58 Kobo, UAC Nigeria dropped 14.33 per cent to N12.85, RT Briscoe declined by 8.96 per cent to N61 Kobo, NAHCO lost 5.40 per cent to close at N25.40, and Sunu Assurances slumped by 5.17 per cent to N1.10.

At the close of trading activities for the week last Friday, the All-Share Index (ASI) and the market capitalisation went up by 1.01 per cent to 74,773.77 points and N40.918 trillion, respectively.

Business Post reports that apart from the consumer goods and Lotus II indices, which depreciated by 1.46 per cent, and 0.08 per cent apiece and the ASeM index, which closed flat, all other indices finished higher.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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