Nigerian Stocks Attract N11.714bn Investments in Five Days

By Dipo Olowookere

Investors bought and sold 1.101 billion Nigerian stocks valued at N11.714 billion in 15,697 deals last week compared with the 1.410 billion worth N15.510 billion traded in 19,025 deals a week earlier.

It was observed that equities in the financial services sector were the most attractive, recording the sale of 859.019 million units worth N6.691 billion in 8,157 deals, accounting for 78 per cent and 57.12 per cent of the total trading volume and value, respectively.

Shares in the conglomerates industry also caught the attention of investors in the week, trading 96.989 million units valued at N109.622 million in 425 deals, while energy shares recorded a turnover of 40.897 million units worth N367.117 million in 1,065 deals.

A breakdown showed that Access Holdings, Sterling Bank, and Transcorp traded 577.512 million stocks worth N2.761 billion in 1,132 deals, contributing 52.44 per cent and 23.57 per cent to the total trading volume and value, respectively.

In the week, 27 equities appreciated in price compared with 20 equities in the previous week, 36 equities depreciated in price compared with 43 equities in the previous week, and 94 equities closed flat, the same as the preceding week.

Unity Bank was the best-performing stock in the trading week after its value jumped by 35.71 per cent to 57 Kobo. Royal Exchange grew by 22.22 per cent to 88 Kobo, MRS Oil expanded by 9.83 per cent to N12.85, eTranzact gained 9.37 per cent to N3.50, and Geregu Power increased by 8.50 per cent to N130.20.

Conversely, Prestige Assurance was the worst-performing stock with a fall of 15.22 per cent to 39 Kobo, Learn Africa went down by 10.71 per cent to N1.50, Guinness Nigeria declined by 9.95 per cent to N74.65, Flour Mills dropped 9.90 per cent to sell at N27.30, and Julius Berger fell by 9.81 per cent to N21.15.

Business Post reports that the All-Share Index (ASI) and the market capitalisation of the Nigerian Exchange (NGX) Limited depreciated in the week by 0.68 per cent to 43,968.75 points and N23.949 trillion, respectively.

Similarly, all other indices finished lower except banking, NGX-AFR Bank Value, NGX AFR Div. Yield and NGX MERI Value, which appreciated by 0.17 per cent, 0.38 per cent, 1.10 per cent, and 0.20 per cent apiece, while the ASeM, growth and sovereign bond indices closed flat.