Traders Stake N16.134bn on Nigerian Equities in One Week

December 27, 2022
Profit-taking in financial equities

By Dipo Olowookere

Last week, traders bought and sold 860.933 million shares worth N16.134 billion in 14,502 deals on the floor of the Nigerian Exchange (NGX) Limited, in contrast to the 814.089 million equities worth N12.204 billion traded in 15,488 deals a week earlier.

Details of the transactions showed that financial equities attracted the most attention of investors in the week under review, 360.234 million units valued at N3.772 billion in 6,905 deals, accounting for 41.84 per cent and 23.38 per cent of the total trading volume and value, respectively.

Further, equities in the construction/real estate industry followed with 302.200 million units worth N927.033 million in 261 deals, while stocks in the consumer goods sector recorded the sale of 39.078 million units worth N1.685 billion in 2,593 deals.

A further breakdown revealed that UPDC Real Estate Investment Trust, FBN Holdings and GTCO were the busiest shares in the week, trading 440.239 million units valued at N3.015 billion in 2,038 deals, contributing 51.13 per cent and 18.69 per cent to the total trading volume and value, respectively

Business Post reports that 41 equities closed on the gainers’ log during the week compared with the 32 equities a week earlier, while 17 equities were on the losers’ table as against the 28 equities in the previous week, with 99 equities closing flat versus 97 equities in the preceding week.

Thomas Wyatt was the best-performing stock as it gained 42.11 per cent to trade at 81 Kobo, Royal Exchange rose by 16.67 per cent to 98 Kobo, Champion Breweries appreciated by 14.63 per cent to N4.70, Ardova improved by 12.57 per cent to N18.80, and Custodian Investment chalked up 11.21 per cent to N5.95.

Conversely, UPDC finished the five-day trading week as the worst-performing stock as it lost 8.08 per cent to settle at 91 Kobo, PZ Cussons shed 8.06 per cent to close at N11.40, Mutual Benefits depreciated by 6.90 per cent to 27 Kobo, RT Briscoe shed 6.90 per cent to quote at 27 Kobo, and Neimeth also decreased by 6.90 per cent to trade at N1.35.

Analysis of the key performance indicators indicated that the All-Share Index (ASI) and the market capitalisation appreciated by 0.79 per cent to 49,706.09 points and N27.074 trillion, respectively, in the week.

Similarly, all other indices finished higher except ASeM and sovereign bond indices which closed flat.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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