Investors Trade N10.050bn Shares in 16,155 Deals in One Week

April 10, 2023
domestic investors NGX

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited depreciated by 2.28 per cent last week as a result of profit-taking by investors ahead of the Easter break.

The bourse operated from Monday to Thursday and shut its doors on Friday for the Good Friday holiday, with the All-Share Index (ASI) and the market capitalisation closing lower at 52,994.13 points and N28.869 trillion, respectively.

Similarly, all other indices finished lower with the exception of insurance, which appreciated by 2.19 per cent, while the ASeM and growth indices closed flat.

In the week, 1.054 billion shares worth N10.050 billion were traded in 16,155 deals compared with the 2.071 billion shares valued at N17.562 billion traded a week earlier in 17,917 deals.

The financial services industry led the activity chart by volume with 630.378 million shares valued at N5.438 billion traded in 7,705 deals, contributing 59.83 per cent and 54.11 per cent to the total trading volume and value, respectively.

The conglomerates sector transacted 248.074 million shares worth N394.370 million in 812 deals, and the energy counter traded 70.921 million shares worth N1.345 billion in 1,452 deals.

Transcorp, UBA and Fidelity Bank accounted for 498.527 million shares worth N2.118 billion in 1,862 deals, contributing 47.32 per cent and 21.07 per cent to the total trading volume and value, respectively.

Last week, 16 equities appreciated in price compared with the 37 equities in the previous week, while 37 stocks depreciated in price compared with the 30 stocks in the preceding week, with 103 equities closing flat, higher than the 90 equities recorded in the previous week.

NAHCO topped the gainers’ chart after it rose by 20.99 per cent to N9.80, Axa Mansard grew by 15.79 per cent to N2.20, CWG appreciated by 14.94 per cent to N1.00, Linkage Assurance expanded by 11.63 per cent to 48 Kobo, and Lasaco Assurance increased by 9.09 per cent to N1.20.

On the flip side, Eterna topped the losers’ table after it fell by 19.12 per cent to N5.50, Multiverse lost 18.83 per cent to N2.63, ABC Transport fell by 16.22 per cent to 31 Kobo, Royal Exchange declined by 15.38 per cent to 66 Kobo, and UAC Nigeria shed 10.99 per cent to N8.50.

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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