Market Participants Trade N13.9bn Stocks in Five Days

August 17, 2020
Investment in Nigerian Stocks

By Modupe Gbadeyanka

Transactions at the stock market improved last week when compared with the previous week, data from the Nigerian Stock Exchange (NSE) has shown.

In the week, 1.3 billion shares worth N13.9 billion were traded by market participants in 19,392 deals compared with 1.1 billion stocks valued at N10.8 billion transacted a week earlier in 20,482 deals.

Analysis indicated that the financial services industry led the activity chart by volume with 886.6 million units worth N8.4 billion traded in 10,161deals, accounting for 66.79 per cent and 60.00 per cent of the total equity turnover volume and value respectively.

The conglomerates’ industry followed with 156.0 million shares worth N187.7 million in 828 deals, while the third place was the consumer goods sector with a turnover of 141.1 million shares worth N2.2 billion in 3,403 deals.

A further breakdown showed that GTBank, Transcorp and Zenith Bank accounted for 419.5 million shares worth N6.1 billion in 3,854deals, contributing 31.60 per cent and 43.63 per cent to the total equity turnover volume and value respectively.

A total of 29 equities appreciated in price during the week, lower than 41 equities in the previous week, while 33 stocks depreciated in price, higher than 18 stocks in the previous week, with 101 shares remaining unchanged, lower than 104 equities recorded in the previous week.

Cadbury Nigeria was the best performing stock, rising by 12.88 per cent to N7.45 per share, while Nigerian Breweries grew by 12.50 per cent to N36.00 per share.

Unilever Nigeria gained 11.61 per cent in the week to finish at N12.50 per share, C&I Leasing appreciated by 10.00 per cent to close at N4.40 per share, while Seplat also rose by 10.00 per cent to end at N385.00 per share.

The worst performing stock of the week was Champion Breweries, which went down by 25.26 per cent to close at 71 kobo per share.

Ikeja Hotel declined by 25.00 per cent to finish at 84 kobo per share, Cornerstone Insurance reduced by 10.91 per cent to 49 kobo per share, Northern Nigerian Flour Mills decreased by 10.00 per cent to N3.87 per share, while Consolidated Hallmark Insurance slipped by 9.76 per cent to 37 kobo per share.

In the week, the All-Share Index (ASI) and market capitalisation both appreciated by 0.63 per cent to close at 25,199.84 points and N13.146 trillion respectively.

All other indices finished higher with the exception of NSE 30, NSE Premium, NSE Banking, NSE AFR Div Yield, NSE MERI Value, NSE Lotus and NSE industrial goods indices which depreciated by 0.31 per cent, 1.27 per cent, 0.03 per cent, 0.07 per cent, 0.01 per cent, 0.70 per cent and 2.71 per cent while the NSE ASeM closed flat.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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