Dipo Olowookere
By Dipo Olowookere
About 1.132 billion shares worth N28.650 billion were transacted on the floor of the Nigerian Exchange (NGX) Limited in 21,921 deals last week compared with the 3.680 billion shares valued at N57.892 transacted a week earlier in 40,726 deals.
The low level of activity was due to the public holidays observed on Tuesday, Wednesday, and Thursday in the country for Eid el-Fitr. The market only witnessed trading activities on Monday and Friday last week.
As usual, the financial services industry led the activity chart with 859.646 million shares sold for N20.624 billion in 12,297 deals, accounting for 75.94 per cent and 71.99 per cent of the total trading volume and value, respectively.
It was trailed by the conglomerates counter with 107.940 million shares sold for N1.461 billion in 1,346 deals, and the consumer goods sector with 51.443 million shares worth N1.921 billion in 2,658 deals.
UBA, Zenith Bank, and Abbey Mortgage Bank were the dominant equities in the week, accounting for 447.033 billion shares worth N10.745 billion in 3,513 deals, contributing 39.49 per cent and 37.50 per cent to the total trading volume and value, respectively.
Business Post reports that 19 stocks appreciated last week versus 31 stocks in the previous week, while 40 stocks depreciated versus 42 stocks of the earlier week, with 95 stocks closing flat versus 81 stocks in the preceding week.
The week was marred by selling pressure, with Access Holdings closing as the worst-performing equity after it dropped 14.60 per cent to N19.30. United Capital lost 13.92 per cent to trade at N20.10, GTCO fell by 13.75 per cent to N41.40, Flour Mills crumbled by 13.55 per cent to N33.80, and Sunu Assurances declined by 13.24 per cent to N1.18.
On the flip side, Morison Industries gained 20.75 per cent to quote at N2.56, Oando appreciated by 10.57 per cent to N12.55, Transcorp increased by 10.33 per cent to N14.95, Deap Capital improved by 9.68 per cent to 68 Kobo, and Omatek rose by 8.97 per cent to 85 Kobo.
The index movement chart showed that the All-Share Index (ASI) and the market capitalisation went down respectively by 1.09 per cent and 1.08 per cent to 102,314.56 points and N57.865 trillion, as all other indices finished lower except ASeM and sovereign bond indices, which closed flat.
