By Dipo Olowookere
A total of 921.856 million shares worth N27.154 billion were transacted last week in 15,601 deals compared with the 1.880 billion shares worth N18.988 billion traded in 12,036 deals a week earlier.
The low turnover recorded in the first week of the year may have been triggered by a low appetite for stocks at a period many were still enjoying the festive period.
The Nigerian Exchange (NGX) Limited operated for only four days, though it did not have any impact on the bourse as in the preceding week, the market only opened for business for three days.
As usual, financial equities dominated the activity chart as NGX investors traded 616.527 million units valued at N6.452 billion in 7,208, contributing 66.88 per cent and 23.76 per cent to the total trading volume and value, respectively.
The industrial goods shares followed with 138.314 million units valued at N13.356 billion in 1,063 deals, while conglomerates stocks exchanged 55.931 million units for N92.845 million in 502 deals.
The busiest stocks were FBN Holdings, BUA Cement, and GTCO, accounting for 450.338 million units worth N17.203 billion in 1,862 deals, contributing 48.85 per cent and 63.35 per cent to the total trading volume and value, respectively.
On the price movement index log, 38 shares were on the gainers’ chart versus 44 shares of the previous week, 17 stocks were on the losers’ table versus 16 stocks in the previous week, and 102 equities remained unchanged versus 97 equities a week earlier.
John Holt recorded the biggest price appreciation as it gained 20.55 per cent to close at 88 Kobo, NAHCO chalked up 15.63 per cent to N7.40, Nigerian Breweries appreciated by 14.63 per cent to N47.00, BUA Foods expanded by 14.62 per cent to N74.50, and Living Trust Mortgage Bank grew by 10.00 per cent to N1.76.
On the other side of the coin, Champion Breweries was the heaviest price loser after it went down by 15.64 per cent to N4.64, Consolidated Hallmark Insurance dropped 10.45 per cent to 60 Kobo, Chellarams declined by 9.82 per cent to N2.02, University Press dwindled by 7.37 per cent to N1.76, and Jaiz Bank deflated by 5.43 per cent to 87 Kobo.
Business Post reports that the All-Share Index (ASI) and the market capitalisation of the bourse depreciated last week by 0.06 per cent to 51,222.34 points and N27.899 trillion, respectively.
All other indices finished higher apart from the NGX Main Board, industrial goods and sovereign bond indices, which fell by 0.54 per cent, 0.58 per cent and 0.09 per cent, respectively, while the ASeM index closed flat.
