Investors Trade N47.449bn Stocks in One Week as Oando Gains 42.86%

By Dipo Olowookere

In five days, investors transacted 2.933 billion shares worth N47.449 billion in 44,654 deals on the floor of the Nigerian Exchange (NGX) Limited compared with the 2.644 billion shares worth N45.450 billion in 44,189 deals a week earlier.

A breakdown showed that the financial services sector led the activity chart with 1.955 billion stocks valued at N26.384 billion traded in 21,707 deals, contributing 66.67 per cent and 55.61 per cent to the total trading volume and value apiece.

This was followed by the energy industry with 281.356 million shares worth N5.307 billion in 4,423 deals and the conglomerates space with 280.586 million equities worth N1.763 billion in 3,079 deals.

UBA, Transcorp and Access Holdings accounted for 1.026 billion shares worth N13.649 billion in 9,733 deals, contributing 34.98 per cent and 28.77 per cent to the total trading volume and value, respectively.

Business Post reports that 32 stocks gained in the week versus 52 stocks in the previous week, while 53 equities depreciated in price compared with 35 equities in the preceding week, with 70 shares closing flat versus 68 shares of the earlier week.

According to data obtained from the bourse, Oando was the best-performing equity after it rose by 42.86 per cent to N11.00, Chellarams appreciated by 32.76 per cent to N3.85, CWG went up by 29.76 per cent to N7.50, Cornerstone Insurance jumped by 12.90 per cent to N1.40, and Northern Nigeria Flour Mills gained 12.03 per cent to trade at N13.50.

Conversely, ABC Transport shed 33.63 per cent to quote at 75 Kobo, Omatek fell by 31.03 per cent to 40 Kobo, eTranzact dropped 26.50 per cent to N7.35, Guinea Insurance lost 19.44 per cent to close at 29 Kobo, and Tantalozers declined by 17.39 per cent to 38 Kobo.

A look at the index movement showed that the All-Share Index (ASI) and the market capitalisation depreciated last week by 1.10 per cent to 67,395.74 points and N36.886 trillion, respectively.

Similarly, all other indices finished lower except insurance, Meri Growth and growth indices, which appreciated by 0.46 per cent, 0.55 per cent and 4.15 per cent apiece as the ASeM index closed flat.