Stock Price of Tripple Gee Surges 45.26% in Five Days

By Dipo Olowookere

The stock price of Tripple Gee recorded a 45.26 per cent surge last week on the floor of the Nigerian Exchange (NGX) Limited on the back of renewed interests of investors.

Data from the stock exchange showed that the company closed at N1.99 in the trading week, in contrast to the N1.37 it closed a week earlier.

Living Trust Mortgage Bank improved by 16.16 per cent to N2.30, Chams rose by 16.00 per cent to 29 Kobo, Conoil went up by 9.98 per cent to N35.25, and MRS Oil surged by 8.24 per cent to N23.00.

On the flip side, CWG lost 17.35 per cent to 81 Kobo, Fidelity Bank went down by 14.70 per cent to N4.76 per cent, Pharma-Deko decreased by 10.00 per cent to N1.89, NGX dwindled by 8.63 per cent to N25.95, and Transcorp retreated by 6.98 per cent to N1.20.

At the close of business, the bourse recorded appreciation in the prices of 36 equities, higher than 24 equities in the previous week, while 27 equities depreciated in price, lower than 45 equities in the previous week, with 94 equities closing flat, higher than 88 equities recorded in the previous week.

On the activity chart, investors traded 751.990 million shares worth N20.575 billion in 15,822 deals compared with the 944.293 million shares valued at N22.710 billion traded in 18,615 deals a week earlier.

The financial services sector led the activity chart by volume with 508.517 million shares valued at N6.212 billion traded in 6,877 deals, contributing 67.62 per cent and 30.19 per cent to the total trading volume and value, respectively.

It was followed by the consumer goods industry with 86.346 million shares worth N4.806 billion in 2,562 deals, and the industrial goods space with a turnover of 34.305 million shares worth N3.635 billion in 1,305 deals.

GTCO, UBA, and FBN Holdings were the most active stocks with a turnover of 249.667 million units worth N3.915 billion in 1,984 deals, contributing 33.20 per cent and 19.03 per cent to the total trading volume and value apiece.

Business Post reports that the All-Share Index (ASI) and the market capitalisation depreciated by 0.96 per cent and 0.95 per cent, respectively, to close the week at 53,804.46 points and N29.310 trillion.

Similarly, all other indices finished lower with the exception of the premium, insurance, MERI Growth, consumer goods, energy, industrial goods and growth indices, which appreciated by 0.54 per cent, 1.18 per cent, 0.44 per cent, 0.67 per cent, 0.91 per cent, 0.06 per cent and 7.15 per cent apiece, while the ASeM and sovereign bond indices closed flat.