Dipo Olowookere
By Dipo Olowookere
Last week, investors traded 491.8 million shares worth N11.922 billion in 14,350 deals compared with the 586.939 million shares worth N8.837 billion transacted a week earlier in 17,183 deals.
In the week, the market opened for only four days due to the public holiday declared for Monday, October 10, 2022, by the federal government to commemorate Eid-el-Maulud.
GTCO, Mutual Benefits Assurance and FBN Holdings were the most active stocks, with the sale of 211.1 million units valued at N2.478 billion traded in 2,834 deals, accounting for 42.92 per cent and 20.78 per cent of the trading volume and value, respectively.
By sector, the financial services industry was the most active, with a turnover of 346.7 million equities worth N3.757 billion traded in 7,427 deals, contributing 70.49 per cent and 31.51 per cent to the total volume and value, respectively.
In addition, the ICT sector followed with 40.5 million shares worth N3.982 billion in 1,060 deals, and the conglomerates counter was the third with 20.3 million shares valued at N28.929 million in 356 deals.
Business Post reports that 25 stocks gained last week, higher than 11 stocks of the preceding week, while 24 equities lost points, lower than 46 equities of the previous week, with 108 shares closing flat, 100 shares in the previous week.
May and Baker recorded the highest price improvement as it gained 13.82 per cent to trade at N4.20, Ikeja Hotel rose by 9.73 per cent to N1.24, Neimeth appreciated by 9.52 per cent, Coronation Insurance increased its value by 9.37 per cent to 35 Kobo, and Honeywell Flour jumped by 8.84 per cent to N2.34.
Conversely, UAC Nigeria topped the losers’ chart after its price fell by 12.20 per cent to N9.00, FTN Cocoa went down by 10.00 per cent to 27 Kobo, Global Spectrum Energy Services declined by 9.82 per cent to N2.48, Academy Press depreciated by 9.66 per cent to N1.31, and Geregu Power dropped 9.02 per cent to N110.00.
In the week, the All-Share Index (ASI) and the market capitalisation of the Nigerian Exchange (NGX) Limited increased by 0.46 per cent to close at 47,569.04 points and N25.910 trillion, respectively.
Similarly, all other indices finished higher except the premium, consumer goods and energy indices, which dropped 0.10 per cent, 0.74 per cent, and 2.13 per cent, respectively, while the ASeM and growth indices remained unchanged.
