Sterling Bank, Zenith Bank, Meyer Trade 752m Shares in 5 Days

By Dipo Olowookere

Last week, trading in Sterling Bank, Zenith Bank and Meyer accounted for 752.4 million shares worth N3.3 billion in 4,039 deals, contributing 49.03 percent and 28.82 percent to the total equity turnover volume and value respectively.

During the week, the Nigerian Stock Exchange (NSE) recorded a total turnover of 1.5 billion shares worth N11.3 billion in 18,928 deals compared with 1.5 billion shares valued at N14.9 billion that exchanged hands the previous week in 21,828 deals.

It was observed that financial stocks led the activity chart with 1.1 billion units valued at N7.1 billion traded in 12,225 deals, contributing 71.99 percent and 63.02 percent to the total equity turnover volume and value respectively.

Industrial goods stocks traded 218.5 million units worth N1.2 billion in 1,610 deals, while consumer goods stocks transacted 134.6 million units valued at N1.9 billion in 2,332 deals.

Business Post reports that 15 equities appreciated in price during the week, lower than 34 in the previous week, while 36 equities depreciated in price, higher than 30 equities in the previous week, with 112 equities remaining unchanged, higher than 99 equities recorded in the preceding week.

GSK was the higher price gainer, appreciating by 24.68 percent to N4.80 per share. Livestock Feeds gained 18.64 percent to trade at 70 kobo per unit, Cadbury Nigeria rose by 12.90 percent to N7 per share, Berger Paints improved by 9.84 percent to N6.70 per unit, while Mobil Nigeria grew by 9.83 percent to N160.90 per share.

At the other side, Nigerian Breweries topped the losers’ chart after shedding 13.73 percent to close at N3.90 per unit. Ecobank lost 12.36 percent to sell at N3.90 per unit, Custodian Investment depreciated by 11.02 percent to N5.25 per share, Guinness Nigeria fell by 9.92 percent to N22.70 per unit, while SAHCO went down by 9.89 percent to N2.37 per share.

In the week, the All-Share Index (ASI) and market capitalisation both depreciated by 3.51 percent to 21,094.62 points and N10.994 trillion respectively. All other indices finished lower with the exception of oil/gas index, which appreciated by 2.33 percent, while the ASeM index closed flat.