NGX Attracts N31.784bn from Stock Trading in Five Days

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited was very busy last week as investors took advantage of the recent rise in the prices of stocks to book profit, resulting in higher market activity.

In the week, investors transacted 3.021 billion shares worth N31.784 billion in 29,153 deals compared with the 1.816 billion shares worth N27.194 billion transacted in 36,286 deals in the preceding week.

According to data from the bourse, FCMB Jaiz Bank and Transcorp accounted for 1.698 billion units worth N4.095 billion in 2,188 deals, contributing 56.21 per cent and 12.88 per cent to the total trading volume and value respectively.

A further breakdown revealed that financial stocks accounted for 2.244 billion units valued at N12.399 billion traded in 10,817 deals, contributing 74.30 per cent and 39.01 per cent to the total trading volume and value respectively.

Conglomerates equities trailed with 345.806 million units worth N558.873 million in 1,676 deals, while consumer goods shares transacted 149.009 million units worth N2.750 billion in 5,632 deals.

The profit-taking witnessed last week crashed the market by 0.22 per cent on a week-on-week basis, with the All-Share Index (ASI) reducing to 52,979.96 points from 53,098.46 points and the market capitalisation falling to N28.562 trillion from N28.626 trillion.

Similarly, all other indices finished lower with the exception of NGX-Main Board, insurance, NGX MERI Growth and energy indices which appreciated at 1.60 per cent, 3.63 per cent, 0.14 per cent and 0.30 per cent while Asem and sovereign bond indices closed flat.

Business Post reports that 50 equities appreciated in price during the week, higher than 49 equities in the previous week, while 32 equities depreciated in price, same as the preceding week, with 74 equities closing flat, lower than 75 equities recorded in the previous week

McNichols posted the highest price increase as it gained 59.52 per cent to finish at N1.34, Royal Exchange grew by 51.49 per cent to N1.53, Champion Breweries appreciated by 30.84 per cent to N4.37, International Breweries rose by 30.37 per cent to N8.80, while Okomu Oil advanced by 26.47 per cent to N215.00.

On the flip side, Academy Press reported the biggest fall in the week as it dropped 13.71 per cent to close at N1.51, Ikeja Hotel lost 10.94 per cent to trade at N1.14, Guinness Nigeria declined by 10.91 per cent to N98.00, Tripple Gee decreased by 9.38 per cent to N87 kobo, while Caverton shed 9.09 per cent to N1.20.