Investors Trade N13.5bn Stocks in 20,554 Deals

NSE Investors

By Modupe Gbadeyanka

A total of 1.3 billion stocks valued at N13.5 billion were traded in 20,554 deals last week by investors at the Nigerian Stock Exchange (NSE) in contrast to the 1.7 billion shares worth N18.9 billion transacted the previous week in 26,367 deals.

According to data obtained from the exchange, during the three-day trading week, the financial services industry led the activity chart with 953.4 million shares valued at N8.2 billion traded in 10,931 deals, contributing 75.94 percent and 61.00 percent to the total equity turnover volume and value respectively.

The industrial goods sector followed with 64.3 million shares worth N1.8 billion in 2,000 deals, while the consumer goods space occupied the third position with a turnover of 62.5 million equities worth N1.4 billion in 3,427deals.

FBN Holdings, Zenith Bank and GTBank accounted for 494.8 million shares worth N6.6 billion in 5,566 deals, contributing 39.41 percent and 49.02 percent to the total equity turnover volume and value respectively.

During the week, 34 equities appreciated in price, lower than 55 equities in the previous week, while 21 equities depreciated in price, higher than 8 equities in the previous week, with 108 equities closing flat, higher than 100 equities of the preceding week.

Neimeth was the best performing stock, rising by 31.40 percent to close at N1.13 per share. SAHCO gained 24.83 percent to finish at N1.81 per share, Axa Mansard appreciated by 18.71 percent to close at N2.03 per share, Cutix gained 14.72 percent to close at N1.87 per share, while GlaxoSmithKline rose by 13.29 percent to finish at N8.10 per share.

On the flip side, Regency Assurance was the worst performing stock in the week, losing 13.04 percent to finish at 20 kobo per share. Ardova shed 10.00 percent to close at N14.40 per share, Learn Africa lost 9.60 percent to finish at N1.13 per share, Ecobank fell by 8.93 percent to close at N5.10 per share, while Transcorp depreciated by 7.79 percent to finish at 71 kobo per share.

A look at the benchmark indices showed that the All-Share Index (ASI) and market capitalisation both appreciated by 0.25 percent to close the week at 25,267.82 points and N13.168 trillion respectively.

All other indices finished higher with the exception of NSE Meri Value and oil/gas indices which depreciated by 2.99 percent and 0.34 percent respectively while ASeM closed flat.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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