NGX Posts 0.52% Week-on-Week Loss as Ecobank, Others Top Activity Chart

May 27, 2024
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By Dipo Olowookere

A 0.52 per cent week-on-week loss was recorded by the Nigerian Exchange (NGX) Limited last week, leaving the All-Share Index (ASI) and the market capitalisation at 97,612.51 points and N55.218 trillion, respectively.

Also, all other indices finished lower apart from MERI Value, consumer goods, energy, Lotus ll and industrial goods indices, which gained 1.74 per cent, 0.31 per cent, 0.72 per cent, 0.44 per cent and 0.19 per cent apiece, while the ASeM index closed flat.

Business Post reports that the trio of Ecobank, Access Holdings, and UBA were the most active stocks after trading 1.006 billion shares worth N20.115 billion in 6,849 deals, contributing 50.67 per cent and 49.40 per cent to the total trading volume and value, respectively.

In the week, investors bought and sold 1.986 billion shares worth N40.715 billion in 38,487 deals versus the 1.652 billion shares worth N42.677 billion traded in 38,123 deals a week earlier.

Financial equities topped the activity chart with 1.577 billion units valued at N30.359 billion traded in 20,697 deals, contributing 79.41 per cent and 74.56 per cent to the total trading volume and value apiece.

Conglomerates shares followed with 125.342 million units sold for N1.387 billion in 2,283 deals, and consumer goods stocks posted 77.327 million units worth N2.446 billion in 4,916 deals.

Data showed that 24 stocks appreciated in the five-day trading week versus 28 stocks of the preceding week, 53 equities depreciated versus 51 equities of the previous week, and 77 shares closed flat versus 76 shares of the preceding week.

Deap Capital lost 24.53 per cent to trade at 40 Kobo, FTN Cocoa shed 16.67 per cent to close at N1.20, Transcorp fell by 12.13 per cent to N10.50, UBA also declined by 12.13 per cent to N19.20, and UPDC retreated by 11.43 per cent to N1.24.

On the flip side, Berger Paints gained 20.65 per cent to finish at N14.90, Regency Assurance appreciated by 19.35 per cent to 37 Kobo, Cutix jumped by 10.20 per cent to N3.35, McNichols increased by 10.00 per cent to N1.10, and Nestle went up by 9.76 per cent to N900.00.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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