Investors Transact N22.710bn Shares in Five Days

By Dipo Olowookere

A total of 944.293 million shares worth N22.710 billion exchanged hands in 18,615 deals last week on the floor of the Nigerian Exchange (NGX) Limited compared with the 3.789 billion shares worth N27.500 billion transacted in 20,333 deals a week earlier amid macroeconomic uncertainty.

According to data from the bourse, financial stocks led the activity chart with the sale of 634.086 million units valued at N6.442 billion in 8,540 deals, contributing 67.15 per cent and 28.37 per cent to the total trading volume and value, respectively.

Consumer goods equities followed with 78.603 million units valued at N2.218 billion in 2,993 deals, while conglomerates shares sold 59.564 million units valued at N110.109 million in 788 deals.

Further analysis showed that GTCO, Universal Insurance and Transcorp were the most active stocks, trading 269.288 million units worth N2.999 billion in 1,845 deals, accounting for 28.52 per cent and 13.21 per cent of the total trading volume and value, respectively.

Business Post reports that 24 stocks gained in the five-day trading week, lower than 55 stocks of the previous week, while 45 equities lost, higher than 27 equities in the previous week, with 88 shares closing flat, higher than 75 shares of the preceding week.

Tripple Gee topped the gainers’ log after it grew by 30.48 per cent to N1.37, International Energy Insurance appreciated by 25.25 per cent to N1.24, Conoil rose by 20.94 per cent to N32.05, MRS Oil increased by 9.82 per cent to N21.25, and Northern Nigerian Flour Mills climbed higher by 9.74 per cent to N10.70.

On the flip side, FTN Cocoa went down by 15.15 per cent to 28 Kobo, Prestige Assurance declined by 13.04 per cent to 40 Kobo, Japaul lost 11.76 per cent to trade at 30 Kobo, Mutual Benefits depreciated by 11.11 per cent to 32 Kobo, and Royal Exchange fell by 9.76 per cent to 74 Kobo.

In the week, the All-Share Index (ASI) and the market capitalisation appreciated by 0.21 per cent to 54,327.30 points and N29.591 trillion, respectively.

Also, the NGX 30, NGX Premium, NGX AFR Div. Yield, energy, Lotus II, and industrial goods indices improved by 0.34 per cent, 1.04 per cent, 0.50 per cent, 0.63 per cent, 0.51 per cent, and 0.65 per cent, respectively, while the ASeM and sovereign bond indices closed flat, with all other indices finishing lower.