Investors Transact N49.2bn Shares in 28,622 Deals

By Dipo Olowookere

A total of 8.2 billion shares worth N49.2 billion were bought and sold by investors in 28,622 deals on the floor of the Nigerian Exchange (NGX) Limited last week.

It was higher than the 1.3 billion shares worth N17.8 billion transacted in 20,212 deals a week earlier. The significant increase was a result of the over 6 billion units of Honeywell Flour Mills stocks sold last Friday in an off-market deal.

A breakdown of the trading data indicated that consumer goods equities led the activity chart in the week with 6.3 billion units valued at N29.3 billion traded in 5,225 deals, contributing 76.28 per cent and 59.64 per cent to the total trading volume and value respectively.

Financial stocks slipped to second with 1.3 billion units worth N9.1 billion in 11,551 deals, while the third place was conglomerates shares with a turnover of 247.5 million units worth N334.894 million in 1,348 deals.

Honeywell Flour, FCMB and Transcorp were the most active stocks of the week with a turnover of 6.9 billion units worth N28.0 billion in 2,237 deals, contributing 84.39 per cent and 56.87 per cent to the total trading volume and value respectively.

However, Meyer ended the week as the highest price gainer as it rose by 28.76 per cent to N3.00, Academy Press gained 25.64 per cent to trade at N1.47, Cadbury Nigeria appreciated by 22.02 per cent to N10.25, Champion Breweries chalked up 21.15 per cent to sell for N2.52, while UDPC grew by 20.22 per cent to N1.07.

Conversely, Japaul closed the week as the heaviest price loser with a price decline of 11.76 per cent to quote at 30 kobo, NPF Microfinance Bank went down by 10.00 per cent to N1.98, Eterna shed 9.47 per cent to close at N6.02, GSK fell by 6.40 per cent to N5.85, while Fidelity Bank depreciated by 6.17 per cent to N3.80.

Business Post reports that at the close of trading activities for the week, 56 equities appreciated in price, higher than 50 equities in the previous week, while 26 stocks depreciated in price, lower than 29 stocks in the previous week, with 74 shares closing flat, lower than 77 shares in the previous week.

As for the index movement, the All-Share Index and market capitalisation appreciated by 2.43 per cent to close at 49,638.94 points and N26.761 trillion respectively.

Similarly, all other indices finished higher with the exception of the banking and NGX Afr. bank value, which depreciated by 1.50 per cent and 1.21 per cent while the Asem, growth and sovereign indices closed flat.