Transcorp, Oando, Fidelity Bank Stocks See Uptick in Demand
By Dipo Olowookere
Transcorp, Oando and Fidelity Bank stocks recorded an uptick in demand last week on the floor of the Nigerian Exchange (NGX) Limited.
The three firms accounted for 378.9 million shares worth N995.5 million in 2,998 deals, contributing 27.57 per cent and 8.42 per cent to the total trading volume and value respectively.
In the week, the total turnover was 1.4 billion units worth N11.8 billion in 22,982 deals in contrast to the 896.2 million units worth N5.2 billion traded in 11,714 deals a week earlier.
Financial equities dominated the trading with 715.4 million shares valued at N4.8 billion in 10,274 deals, contributing 52.06 per cent and 40.13 per cent to the total trading volume and value respectively.
Conglomerates stocks followed with 212.3 million units worth N517.6 million in 1,060 deals, while energy shares recorded 153.4 million units worth N1.6 billion in 3,076 deals.
Business Post reports that 37 equities closed on the gainers’ chart last week, lower than 43 equities of the
previous week, while 35 shares were on the losers’ log, higher than 16 shares of the earlier week, with 84 stocks closing flat, higher than 97 stocks of the preceding week.
On the gainers’ chart, Oando was on top after its value went up by 23.17 per cent to N4.89 and was trailed by BOC Gases, which grew by 19.48 per cent to sell at N9.20.
FTN Cocoa appreciated by 17.07 per cent to 48 kobo, NAHCO rose by 10.91 per cent to N2.44, while Julius Berger improved by 10.84 per cent to N22.50.
On the losers’ log, Linkage Assurance was on top with a price decline of 14.29 per cent to finish at 60 kobo and was trailed by Regency Assurance, which crashed by 12.50 per cent to 42 kobo.
UPDC depreciated by 11.11 per cent to N1.20, Learn Africa declined by 10.00 per cent to N1.35, while Pharma Deko went down by 9.92 per cent to N1.09.
At the close of transactions for the week, the All-Share Index (ASI) and market capitalisation depreciated by 0.31 per cent to 38,547.08 points and N20.084 trillion respectively.
Similarly, all other indices finished lower with the exception of NGX premium, consumer goods, energy and sovereign bond indices, which appreciated by 0.02 per cent, 0.06 per cent, 3.84 per cent and 1.97 per cent respectively, while the ASeM and growth indices closed flat.