By Dipo Olowookere
A total of 989.6 million shares worth N8.2 billion were traded by investors last week in 19,617 deals on the floor of the Nigerian Exchange (NGX) Limited.
This was lower than the 1.4 billion shares valued at N11.8 billion transacted a week earlier on the exchange in 22,982 deals, according to data obtained by Business Post.
Despite this decline in the level of transactions, the stock market appreciated in the five-day trading week by 0.68 per cent, with the All-Share Index (ASI) and market capitalisation rising to 38,810.75 points and N20.221 trillion respectively from the preceding week’s 38,547.08 points and N20.084 trillion.
At the close of business last Friday, financial stocks led the activity chart for trading 603.7 million units worth N3.9 billion in 9,337 deals, contributing 61.00 per cent and 47.22 per cent to the total trading volume and value respectively.
Conglomerates equities trailed for transacting 102.2 million units valued at N134.0 million in 846 deals, while consumer goods stocks exchanged 81.0 million units worth N1.3 billion in 2,902 deals.
Transcorp, Sterling Bank and FBN Holdings accounted for 210.2 million shares worth N554.4 million in 1,414 deals, contributing 21.24 per cent and 6.77 per cent to the total trading volume and value respectively.
On the price movement chart, 23 equities appreciated in price during the week, lower than 37 equities in the previous week, 36 stocks depreciated in price, higher than 35 stocks in the previous week, while 97 shares remained unchanged, higher than 84 shares recorded a week earlier.
On the gainers’ chart, Cutix was on top after its value went up by 17.95 per cent to N5.65. Regency Assurance appreciated by 14.29 per cent to 48 kobo, Conoil rose by 10.00 per cent to N20.35, Transcorp Hotels grew by 9.80 per cent to N3.92, while Julius Berger gained 8.89 per cent to sell at N24.50.
Conversely, Neimeth topped the losers’ table as its price went down by 14.29 per cent in the week to N1.50. AIICO Insurance declined by 12.04 per cent to 95 kobo, Eterna lost 10.56 per cent to trade at N6.35, Juli fell by 9.76 per cent to N1.11, while Caverton depreciated by 7.69 per cent to N1.80.
In a related development, the share price of Lasaco Assurance was adjusted in the week to N1.50 from N1.60 last Friday to reflect the 10 kobo dividend proposed by the board of the insurance company.
In the week also, the board of Meyer Plc recommended the payment of N1.50 to shareholders, whose names appear on the register of members on August 13, with the payment fixed for August 25.
In the same vein, Consolidated Hallmark Insurance proposed the payment of 2 kobo as an interim dividend to investors with a qualification date of August 13 and a payment date of September 2.
Modupe Gbadeyanka