Oando, Fidelity Bank, UBA Attract Investors Attention
By Dipo Olowookere
Last week, Oando, Fidelity Bank and UBA were investors’ toast at the Nigerian Exchange (NGX) Limited, accounting for 732.276 million shares worth N7.148 billion in 7,020 deals, contributing 27.70 per cent and 15.73 per cent to the total trading volume and value, respectively.
Data from the exchange showed that a total of 2.644 billion shares worth N45.450 billion were transacted in 44,189 deals, in contrast to the 2.510 billion shares valued at N32.816 billion traded in 40,736 deals a week earlier.
Financial equities topped the activity chart with 1.587 billion units worth N20.896 billion in 18,686 deals, contributing 60.03 per cent and 45.98 per cent to the total trading volume and value, respectively.
Energy stocks trailed with 385.514 million units valued at N4.678 billion in 4,579 deals, and consumer goods shares were in third place for selling 221.578 million units valued at N12.668 billion in 8,919 deals.
Business Post reports that 52 equities appreciated in price during the week versus 55 equities in the previous week, 35 shares had haircuts versus 28 shares a week earlier, and 68 stocks closed flat versus 72 stocks in the preceding week.
In the week, the All-Share Index (ASI) and the market capitalisation gained 0.91 per cent to end at 68,143.34 points and N37.295 trillion apiece.
Similarly, all other indices finished higher except insurance, energy, industrial goods, growth and sovereign bond indices, which lost 2.94 per cent, 0.12 per cent, 0.49 per cent, 2.28 per cent, and 0.46 per cent, respectively, while the ASeM index closed flat.
CWG posted the highest price improvement last week after it closed higher by 44.14 per cent to N5.78, Tantalizers gained 39.39 per cent to finish at 46 Kobo, Oando rose by 38.74 per cent to N7.70, Beta Glass appreciated by 32.95 per cent to N51.85, Omatek jumped by 26.09 per cent to 58 Kobo.
On the flip side, Chellarams shed 18.77 per cent to settle at N2.90, Cornerstone Insurance dropped 11.43 per cent to N1.24, Consolidated Hallmark Insurance declined by 11.30 per cent to N1.02, Morison Industries fell by 9.89 per cent to N2.55, and Vitafoam slumped by 9.27 per cent to N22.50.