By Modupe Gbadeyanka
There were heavy transactions around shares of UACN-Property Development Company (UPDC), Zenith Bank and LASACO Assurance on the floor of the Nigerian Stock Exchange (NSE) last week.
Business Post reports that one of the reasons for the activities in UPDC was the transfer of stocks held in the company by UAC Nigeria to Custodian Investment, which is taking control of the real estate company going forward. Also, the interim dividend proposed by the board of Zenith Bank lured investors to trade the lender’s securities.
During the five-day trading week, UPDC, Zenith Bank and LASACO Assurance accounted for 1.2 billion shares worth N3.2 billion in 2,148 deals, contributing 55.61 per cent and 29.60 per cent to the total equity turnover volume and value respectively.
Data from the exchange showed that investors traded a total 2.2 billion shares worth N11.0 billion in 18,013 deals in contrast to a total of 1.1 billion shares valued at N7.4 billion transacted in 16,684 deals the previous week.
It was observed that this time, unlike the previous weeks, the construction/real estate industry led the activity chart with 954.5 million shares valued at N681.4 million traded in 218 deals, contributing 43.21 per cent and 6.22 per cent to the total equity turnover volume and value respectively.
The financial services sector, which used to top the table, was pushed to the second position with 889.9 million shares worth N6.5 billion in 10,107 deals, while the third place was the conglomerates industry, with a turnover of 209.4 million shares worth N580.0 million in 677 deals.
A total of 41 equities appreciated in price during the week, higher than 29 equities in the previous week, while 19 equities depreciated in price, lower than 36 equities in the previous week, with 103 equities remaining unchanged, higher than 98 equities recorded in the previous week.
On the gainers’ chart was led by Royal Exchange, which appreciated by 26.92 per cent to close at 33 kobo per share and was followed by Cornerstone Insurance, which rose by 17.86 per cent to settle at 66 kobo per share.
Union Diagnostic and Clinical Services gained 12.50 per cent to finish at 27 kobo per share, UAC Nigeria appreciated by 10.53 per cent to close at N6.30 per share, while Livestock Feeds gained 10.00 per cent to settle at 66 kobo per share.
On the flip side, The Initiatives was the worst-performing stock, losing 18.57 per cent to settle at 57 kobo per share, while LASACO Assurance trailed with a price depreciation of 16.13 per cent to close at 26 kobo per share.
Tripple Gee and Company declined by 12.00 per cent to settle at 44 kobo per share, C&I Leasing lost 10.00 per cent to end at N3.60 per share, while Academy Press depreciated by 10.00 per cent to finish at 27 kobo per share.
In the week, the All-Share Index (ASI) and market capitalisation appreciated by 1.17 per cent to close at 25,605.64 points and N13.358 trillion respectively. Also, all other indices finished higher with the exception of the ASeM index, which depreciated by 1.63 per cent.
