Nigerian Bourse Records Turnover of 3.647 billion Shares in One Week

By Dipo Olowookere

The turnover on the floor of the Nigerian Exchange (NGX) Limited declined last week, with investors trading 3.647 billion shares worth N130.151 billion in 244,777 deals compared with the 4.360 billion shares valued at N210.331 billion transacted in 223,284 deals a week earlier.

Analysis of the data from the Nigerian bourse indicated that financial stocks led the activity chart, with 2.909 billion units sold for N56.668 billion in 106,662 deals, contributing 79.76 per cent and 43.54 per cent to the total trading volume and value, respectively.

Services equities recorded the sale of 153.122 million units worth N2.331 billion in 15,850 deals, while consumer goods shares posted 116.656 million units valued at N11.035 billion in 26,487 deals.

The three most active stocks were Fortis Global Insurance, Mutual Benefits Assurance, and Sterling Holdings, with 1.544 billion units worth N4.067 billion in 3,017 deals, accounting for 42.33 per cent and 3.12 per cent of the total trading volume and value, respectively.

Business Post reports nine equities appreciated during the week versus 56 equities a week earlier, 80 shares depreciated versus 35 shares of the previous week, and 58 stocks remained unchanged versus 56 stocks in the preceding week.

NGX Group gained 13.85 per cent to trade at N148.00, Ellah Lakes rose by 13.33 per cent to N10.20, Seplat jumped by 10.00 per cent to N14,907.80, eTranzact expanded by 5.69 per cent to N13.00, and Ikeja Hotel soared by 4.58 per cent to N44.50.

On the flip side, Fortis Global Insurance shed 27.50 per cent to close at N1.45, CMFC lost 24.24 per cent to quote at N1.99, Omatek declined by 19.41 per cent to N1.37, and Royal Exchange crashed by 18.18 per cent to 90 Kobo.

In the five-day trading week, the All-Share Index (ASI) was down by 1.60 per cent to 243,052,74 points and the market capitalisation depreciated by 1.24 per cent to N157.587 trillion.

In the same vein, all other indices finished lower except AFR Div Yield, MERI Value, energy, sovereign bond and commodity indices, which gained 0.71 per cent, 0.79 per cent, 2.83 per cent, 0.14 per cent, and 2.19 per cent, respectively.