Investors Transact N123.2bn Stocks in One Week

By Dipo Olowookere

A total of 2.507 billion shares valued at N123.223 billion exchanged hands in 173,561 deals on the Nigerian Exchange (NGX) Limited last week, which had four trading sessions due to a public holiday to mark the Eid el Maulud celebration on Tuesday.

In the preceding week, which had five trading days, market participants bought and sold 6.242 billion shares worth N157.764 billion in 186,496 deals.

Data indicated that the financial services segment led the activity chart by volume with 1.977 billion units sold for N71.563 billion in 79,586 deals, contributing 78.87 per cent and 58.08 per cent to the total trading volume and value, respectively.

The services industry followed with 148.226 million units worth N7.252 billion in 10,638 deals, and the third place was the ICT sector, with a turnover of 117.982 million units valued at N8.635 billion in 21,639 deals.

Fortis Global Insurance, Jaiz Bank, and First Holdco accounted for 793.104 million shares worth N26.898 billion in 14,758 deals, contributing 31.64 per cent and 21.83 per cent to the total trading volume and value, respectively.

During the week, 24 equities appreciated versus 18 equities in the previous week, 55 equities depreciated versus 59 equities in the previous week, and 68 equities remained unchanged versus 70 equities in the preceding week.

University Press topped the gainers’ chart after it chalked up 18.75 per cent to close at N5.70. First Holdco improved by 11.58 per cent to N145.00, Seplat Energy grew by 10.00 per cent to N12,320.60, Red Star Express soared by 9.86 per cent to N16.15, and Transcorp Hotels rose by 9.76 per cent to N265.50.

On the flip side, International Energy Insurance led the losers’ table after it lost 26.61 per cent to trade at N2.84. Fidson shed 17.69 per cent to quote at N77.00, Caverton slumped by 15.15 per cent to N4.20, Zichis crashed by 14.71 per cent to N14.50, and Austin Laz depleted by 11.97 per cent to N2.50.

At the close of business, the All-Share Index (ASI) gained 0.81 per cent to finish at 241,298.47 points, and the market capitalisation appreciated by 0.84 per cent to N155.826 trillion.

Similarly, all other indices finished higher except the main board, insurance, MERI Growth, consumer goods, Lotus II, industrial goods, and growth indices, which slipped by 0.10 per cent, 0.63 per cent, 2.21 per cent, 0.67 per cent, 1.03 per cent, 0.22 per cent, 0.001 per cent and 1.56 per cent, respectively.