Dipo Olowookere
By Dipo Olowookere
Last week, investors at the Nigerian Exchange (NGX) Limited traded 2.973 billion shares worth N22.828 billion in 23,765 deals compared with the 14.029 billion shares worth N59.007 billion traded in 24,048 deals in the preceding week.
Data showed that during the four-day trading week, stocks in the financial services sector reclaimed their position as the most active after selling 1.458 billion units valued at N14.082 billion in 13,115 deals, accounting for 49.04 per cent and 61.69 per cent of the total trading volume and value, respectively.
Equities in the conglomerates industry slipped to second after exchanging 1.254 billion units worth N3.123 billion in 1,662 deals due to ease in the demand for Transcorp, which had been investors’ toast because of the interest shown by Mr Femi Otedola.
The third place was the consumer goods space, which posted a turnover of 71.425 million shares worth N1.468 billion executed in 3,177 deals.
When trading activities were wrapped up, Transcorp, Access Holdings and Fidelity Bank topped the chart for trading 2.074 billion stocks valued at N11.297 billion in 5,966 deals, contributing 69.76 per cent and 49.49 per cent to the total trading volume and value, respectively.
Business Post reports that 51 equities appreciated in price in the week compared with 49 equities in the previous week, 26 stocks depreciated in price as against 17 stocks a week earlier, while 79 shares closed flat versus 90 shares in the preceding week.
CWG was the best-performing stock last week as it gained 25.71 per cent to end at N1.32, Academy Press rose by 20.00 per cent to N1.74, Wema Bank improved by 16.58 per cent to N4.43, Ardova chalked up 14.63 per cent to trade at N19.20, and Multiverse grew by 11.51 per cent to N3.10.
The worst-performing stock for the week was Transcorp due to the 30.96 per cent loss it printed to finish at N1.94, McNichols shed 17.72 per cent to 65 Kobo, Geregu Power fell by 10.00 per cent to N290.70, Living Trust Mortgage Bank went down by 9.73 per cent to N2.69, and GlaxoSmithKline declined by 8.73 per cent to N5.75.
In the week, the stock market gained 0.12 per cent after the All-Share Index (ASI) and the market capitalisation closed higher at 52,465.31 points and N28.568 trillion, respectively.
Similarly, all other indices finished higher except the NGX Main Board, NGX 30, MERI Growth, and NGX Growth, which depreciated by 0.61 per cent, 0.32 per cent, 0.62 per cent, and 8.96 per cent apiece, while the ASeM and sovereign bond indices closed flat.
