Investors Transact 1.804 billion Equities Worth N52.040bn in Four Days

By Dipo Olowookere

In four days, investors transacted 1.804 billion equities worth N52.040 billion in 38,550 deals on the floor of the Nigerian Exchange (NGX) Limited compared with the 1.735 billion equities valued at N48.755 billion traded in 45,237 deals in the previous week.

The market only opened for four sessions in the week under review due to the public holiday observed last Friday for Good Friday celebrated by Christians.

GTCO, Zenith Bank, and Access Holdings were the busiest after trading 589.939 million shares worth N23.276 billion in 8,166 deals, contributing 32.70 per cent and 44.73 per cent to the total trading volume and value, respectively.

As usual, financial stocks led the activity chart with 1.329 billion units worth N32.924 billion exchanged in 20,897 deals, contributing 73.65 per cent and 63.27 per cent to the total trading volume and value, respectively.

Conglomerates equities followed with 106.728 million units worth N1.467 billion in 2,368 deals, and the consumer goods shares worth 87.708 million units worth N4.220 billion in 4,731 deals.

Business Post reports that 40 equities appreciated during the week versus 50 equities in the previous week, 31 stocks depreciated versus 32 stocks in the preceding week, and 83 stocks closed flat versus 72 stocks recorded a week earlier.

CWG topped the gainers’ table after it chalked up 26.05 per cent to trade at N7.50, Morison Industries appreciated by 24.82 per cent to N1.76, Juli expanded by 20.74 per cent to N9.49, Sunu Assurances grew by 17.24 per cent to N1.36, and Consolidated Hallmark rose by 16.43 per cent to N1.63.

On the flip side, International Breweries led the losers’ group after it shed 14.26 per cent to close at N4.45, Dangote Sugar lost 11.86 per cent to trade at N52.00, Guinea Insurance fell by 10.26 per cent to 35 Kobo, Northern Nigerian Flour Mills depreciated by 9.97 per cent to N48.30, and FTN Cocoa declined by 9.09 per cent to N1.60.

The bourse recorded a week-on-week loss of 0.08 per cent after the All-Share Index (ASI) and the market capitalisation went down to 104,562.06 points and N59.121 trillion, respectively.

Also, the NGX Main Board, NGX 30, consumer goods, and growth indices closed lower by 0.28 per cent, 0.16 per cent, 0.97 per cent and 0.14 per cent, respectively, while other indices finished higher, with the energy and sovereign bond indices closing flat.