By Dipo Olowookere
A total of 3.393 billion shares worth N52.304 billion were bought and sold in 44,814 deals last week on the floor of the Nigerian Exchange (NGX) Limited by investors despite the civil unrest in the country triggered by angry hungry citizens.
Since last Thursday, some Nigerians have been on the streets to vent their frustration over the rising living costs to the government.
Economic activities were crippled by their protests across the country, though the stock market remained active, with some brokerage firms operating remotely for fear of being attacked.
Business Post reports that the stock exchange was under selling pressure due to the macroeconomic environment, resulting in the All-Share Index (ASI) and the market capitalisation closing lower by 0.46 per cent and 0.19 per cent each to 97,745.73 points and N55.497 trillion, respectively
In the preceding week, traders transacted 3.557 billion shares valued at N47.220 billion in 42,871 deals, reflecting profit-taking.
Fidelity Bank, UBA, and Zenith Bank accounted for 2.099 billion stocks worth N28.215 billion in 7,603 deals, contributing 61.87 per cent and 53.94 per cent to the total trading volume and value, respectively.
The financial services industry led the activity chart with 2.875 billion equities valued at N36.995 billion traded in 23,791 deals, contributing 84.73 per cent and 70.73 per cent to the total trading volume and value, respectively.
The energy sector traded 141.927 million equities worth N6.698 billion in 4,476 deals, and the consumer goods counter sold 97.306 million equities for N4.047 billion in 4,179 deals.
In the week, all other indices finished lower apart from the main board, insurance, ASeM and energy indices, which appreciated by 0.01 per cent, 1.59 per cent, 5.26 per cent, and 4.27 per cent, respectively, while the sovereign bond index closed flat.
Forty shares appreciated in the five-day trading week versus 20 shares in the previous week, 40 stocks also depreciated versus 47 stocks a week earlier, and 71 equities closed flat versus 84 equities in the preceding week.
United Capital topped the losers’ chart after it lost 68.81 per cent to settle at N12.15, MeCure Industries declined by 18.78 per cent to N7.35, Thomas Wyatt shed 18.52 per cent to N1.76, NASCON depleted by 13.24 per cent to N29.50, and Nigerian Breweries tripped by 12.75 per cent to N26.00.
But RT Briscoe topped the gainers’ table with a 25.37 per cent growth to sell at 84 Kobo, Oando inflated by 24.32 per cent to N25.30, Industrial and Medical Gases appreciated by 20.77 per cent to N15.70, Custodian Investment rose by 19.61 per cent to N12.20, and May and Baker gained 19.32 per cent to N7.04.
Adedapo Adesanya