Jaiz Bank, UBA, Zenith Bank Witness Heavy Trades in One Week

By Modupe Gbadeyanka

There were heavy trades in the shares of Jaiz Bank Plc, United Bank for Africa (UBA) Plc and Zenith Bank Plc on the floor of the Nigerian Stock Exchange (NSE) last week.

According to data from the exchange, these three companies transacted 894.0 million stocks worth N7.1 billion in 4,045 deals, contributing 39.47 per cent and 33.72 per cent to the total volume and value of equities traded in the five-day trading week respectively.

Business Post reports that a total of 2.3 billion shares worth N21.0 billion were exchanged in 23,722 deals during the week as against the 1.7 billion shares valued at N25.4 billion transacted a week earlier in 23,650 deals.

A breakdown showed that the financial services industry led the activity chart with 1.9 billion units valued at N14.9 billion traded in 13,602 deals, contributing 83.15 per cent and 71.14 per cent to the total equity turnover volume and value respectively.

The consumer goods sector followed with 116.4 million shares worth N2.8 billion traded in 3,474 deals, while the third place was conglomerates industry with 107.8 million shares worth N231.3 million exchanged in 897 deals.

In the week, 13 equities appreciated in price, lower than 22 22 equities in the previous week, while 46 shares depreciated in price, higher than 45 shares in the previous week, with 102 stocks closing flat, higher than 94 stocks of the preceding week.

Regency Assurance was the worst-performing stock of the week, losing 16.67 per cent to settle at 20 kobo per share and was trailed by University Press fell by 14.29 per cent to close at N1.26 per share.

Neimeth lost 12.35 per cent to finish at N2.20 per share, Lafarge Africa depreciated by 10.65 per cent to end at N20.55 per share, while Transcorp Hotels declined by 10.00 per cent to close at N3.60 per share.

FTN Cocoa Processors closed the week as the best-performing equity with a price appreciation of 51.72 per cent to end at 44 kobo per share.

Union Diagnostic gained 16.00 per cent to finish at 29 kobo per share, Okomu Oil appreciated by 10.00 per cent to end at N88 per share, Livestock Feeds gained 6.61 per cent to finish at N1.29 per share, while Unity Bank appreciated by 4.69 per cent to end at 67 kobo per share.

A look at the movement in the major market performance indicators showed that the All-Share Index (ASI) and the market capitalisation depreciated by 2.53 per cent to close the week at 34,250.74 points and N17.902 trillion respectively. Similarly, all other indices finished lower with the exception of the ASeM index, which closed flat.