NGX Records 1.08% Weekly Loss Despite 44.97% Growth by Transcorp

April 24, 2023
NGX investors

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited depreciated by 1.08 per cent last week amid buying pressure on Transcorp Plc, the new bride of investors.

The company led the 35 price gainers in the trading week after it chalked up 44.97 per cent to settle at N2.45 and was trailed by Ikeja Hotel, which gained 19.83 per cent to close at N1.39. Consolidated Hallmark Insurance rose by 15.79 per cent to 66 Kobo, Fidelity Bank improved by 13.95 per cent to N5.80, and RT Briscoe appreciated by 13.64 per cent to 35 Kobo.

Conversely, Zenith Bank led a losers’ log of 31 members after it shed 12.20 per cent to trade at N21.95, Champion Breweries depleted by 10.14 per cent to N4.43, Africa Prudential depreciated by 10.00 per cent to N5.40, Vitafoam went down by 8.65 per cent to N16.90, and UBA lost 7.65 per cent to sell at N7.85.

Business Post reports that in the week, the All-Share Index (ASI) and the market capitalisation depreciated to 51,355.74 points and N27.963 trillion, respectively, due to profit-taking.

Similarly, all other indices finished lower with the exception of the NGX Main Board, NGX Pension, NGX insurance, NGX AFR Div. Yield, NGX MERI Growth and NGX consumer goods, which appreciated by 0.73 per cent, 1.44 per cent, 1.41 per cent, 0.80 per cent, 4.37 per cent and 0.17 per cent, respectively, while the ASeM, growth and sovereign bond indices closed flat.

Last week, the stock market opened its doors to investors and others for four days due to the public holiday observed on Friday to celebrate Eid al-Fitr.

However, this did not affect the turnover as traders transacted 3.920 billion shares worth N15.620 billion in 16,856 deals at the close of the week, in contrast to the 2.824 billion shares worth N10.964 billion transacted a week earlier in 15,686 deals.

The conglomerates industry led the activity chart with 3.050 billion shares valued at N5.964 billion traded in 1,379 deals, contributing 77.81 per cent and 38.18 per cent to the total trading volume and value, respectively.

It was trailed by the financial services sector with 707.962 million shares worth N6.175 billion in 8,430 deals, and the consumer goods space with 43.155 million shares worth N1.026 billion in 2,223 deals.

Transcorp Plc, Access Holdings Plc, and Fidelity Bank Plc were the actively traded stocks, with 3.302 billion units valued at N7.999 billion traded in 2,375 deals, contributing 84.23 per cent and 51.21 per cent to the total trading volume and value, respectively.

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]

Leave a Reply

Cristian Stellini
Previous Story

Tottenham Hotspur Remove Interim Manager Cristian Stellini

crude oil wells
Next Story

Oil Rises as Chinese Data Boost Demand Outlook

Latest from Economy

Don't Miss