Japaul Shares Begin Another Surge, Rise 40%

By Dipo Olowookere

Japaul shares are again witnessing another round of price appreciation on the floor of the Nigerian Stock Exchange (NSE).

Last week, during the four-day trading session, the value of the company’s stocks increased by 40 per cent or 18 kobo to settle at 63 kobo in contrast to 45 kobo it closed at the preceding week, which also had four trading days.

The rise in the equity of the company made it to close as the best-performing stock in the week and was distantly followed by Consolidated Hallmark Insurance, which gained 12.50 per cent to close at 36 kobo.

Linkage Assurance appreciated in the week by 11.11 per cent to settle at 80 kobo, The Initiates rose by 9.52 per cent to 46 kobo, while Royal Exchange grew by 9.09 per cent to 36 kobo.

At the close of business for the week, a total of 17 equities appreciated in price, lower than 42 equities in the previous week.

On the losers’ chart, there were 40 equities, higher than 22 equities in the previous week and they were led by Guinness Nigeria, which declined by 17.27 per cent to sell for N29.70.

Sterling Bank depreciated by 15.68 per cent to N1.56, Mutual Benefits Assurance lost 15.22 per cent to trade at 39 kobo, MRS Oil fell by 9.92 per cent to N10.90, while Aluminium Extrusion depreciated by 9.88 per cent to N7.30.

Business Post reports that a total of 105 stocks closed flat at the market last week, higher than 98 shares recorded in the previous week.

Generally, the bears dominated the market in the week as the All-Share Index and market capitalisation depreciated by 0.13 per cent to close at 38,866.39 points and N20.335 trillion respectively.

All other indices finished lower with the exception of NSE Premium, NSE MERI Growth, consumer goods, NSE Lotus II and NSE Growth indices which appreciated by 0.62 per cent, 0.28 per cent, 1.12 per cent, 1.11 per cent and 0.62 per cent while the NSE ASeM index closed flat.

On the activity chart, investors traded 887.0 million shares worth N9.2 billion in 17,837 deals, lower than the 1.5 billion shares valued at N19.0 billion transacted the preceding week in 17,400 deals.

The financial services industry led the activity chart with 607.2 million shares valued at N6.1 billion traded in 10,125 deals, contributing 68.46 per cent and 65.99 per cent to the total equity turnover volume and value respectively.

The conglomerates sector trailed with the sale of 112.3 million units worth N572.8 million executed in 1,450 deals, while the energy space sold 57.7 million shares worth N201.5 million in 1,107deals.

Zenith Bank, Access Bank and GTBank accounted for 259.3 million shares worth N4.8 billion in 4,970 deals, contributing 29.23 per cent and 52.41 per cent to the total trading volume and value respectively.