Market Participants Transact 7.619 billion Shares Worth N637.8bn in One Week

By Dipo Olowookere

A turnover of 7.619 billion shares worth N637.826 billion was recorded in 192,138 deals on the floor of the Nigerian Exchange (NGX) Limited last week compared with the 2.024 billion shares valued at N110.773 billion traded in 173,113 deals in the preceding week.

Financial stocks led the activity chart with 6.990 billion units sold for N573.492 billion in 85,998 deals, contributing 91.75 per cent and 89.91 per cent to the total trading volume and value, respectively.

Consumer goods equities recorded a turnover of 164.650 million units worth N7.201 billion in 20,297 deals, and services shares traded 93.278 million units valued at N1.567 billion in 9,932 deals.

First Holdco, GTCO, and UBA accounted for 6.096 billion shares worth N544.438 billion in 27,001 deals, contributing 80.02 per cent and 85.36 per cent to the total trading volume and value, respectively.

In the week, 33 equities appreciated versus 20 equities in the previous week, 48 equities depreciated versus 55 equities the preceding week, and 65 equities remained unchanged versus 71 equities a week earlier.

Dangote Cement was the best-performing stock after it gained 27.81 per cent to close at N1,420.00, Honeywell Flour appreciated by 25.98 per cent to N22.55, UPDC REIT expanded by 20.57 per cent to N21.10, Sovereign Trust Insurance grew by 20.51 per cent to N2.35, and Eterna rose by 9.90 per cent to N42.75.

The worst-performing stock was Caverton, as it lost 25.00 per cent to N3.60. Livestock Feeds declined by 21.99 per cent to N13.30, Austin Laz shrank by 17.54 per cent to N2.35, First Holdco crumbled by 17.31 per cent to N119.15, and Guinea Insurance slipped by 17.20 per cent to 77 Kobo.

The All-Share Index and the market capitalisation improved by 2.86 per cent in the five-day trading week to 254,299.49 points and N165.114 trillion, respectively.

Similarly, all other indices finished higher except the main board, CG, banking, insurance, consumer goods, growth and commodity indices, which depreciated by 0.11 per cent, 1.70 per cent, 3.42 per cent, 2.13 per cent, 0.02 per cent, 1.02 per cent and 0.38 per cent, respectively.