Veritas Kapital, Sterling Bank, GTCO Dominate NGX Activity Chart

January 23, 2023
Veritas Kapital

By Dipo Olowookere

Last week, on the floor of the Nigerian Exchange (NGX) Limited, the trio of Veritas Kapital Assurance, Sterling Bank, and Guaranty Trust Holding Company (GTCO) dominated the activity chart, trading 605.879 million shares worth N2.120 billion in 1,631 deals, accounting for 48.82 per cent and 13.53 per cent of the total trading volume and value, respectively.

In the week, investors bought and sold 1.241 billion shares worth N15.668 billion in 18,560 deals, in contrast to the 1.286 billion shares worth N29.634 billion transacted in 19,816 deals in the preceding week.

Shares in the financial services industry were the busiest, with 1.010 billion units valued at N5.924 billion traded in 9,165 deals, contributing 81.37 per cent and 37.81 per cent to the total trading volume and value, respectively.

Equities in the conglomerates sector followed with 46.761 million shares worth N112.918 million in 641 deals, while stocks in the consumer goods counter with a turnover of 42.121 million shares worth N2.134 billion in 2,886 deals.

A total of 39 equities appreciated in price during the week, lower than 51 equities in the previous week, while 30 equities depreciated in price, higher than 27 equities in the previous week, with 88 equities remaining unchanged, higher than 79 equities recorded in the previous week.

International Energy Insurance topped the gainers’ log last week after it grew by 28.95 per cent to 49 Kobo, MRS Oil Nigeria increased by 13.48 per cent to N16.00, NAHCO gained 12.86 per cent to sell at N7.90, Sunu Assurances chalked up 12.12 per cent to close at 37 Kobo, and Abbey Mortgage Bank appreciated by 9.80 per cent to N1.68.

On top of the losers’ table was Livestock Feeds, which lost 13.85 per cent to quote at N1.12, C&I Leasing depleted by 10.00 per cent to N3.15, UPDC shed 9.62 per cent to trade at 94 Kobo, Sovereign Trust Insurance went down by 7.14 per cent to 26 Kobo, and International Breweries decreased by 7.00 per cent to N4.65.

Data obtained by Business Post from the exchange showed that the All-Share Index (ASI) and the market capitalisation appreciated by 0.16 per cent to 52,594.68 points and N28.647 trillion, respectively.

Similarly, all other indices finished higher with the exception of NGX CG, premium, banking, pension, NGX AFR Bank Value, NGX AFR Div. Yield, NGX MERI Value, consumer goods, industrial goods, insurance and growth indices which depreciated by 1.17 per cent, 1.18 per cent, 2.60 per cent, 0.64 per cent, 2.66 per cent, 2.05 per cent, 2.34 per cent, 0.40 per cent and 1.06 per cent respectively, while the ASeM and sovereign bond indices 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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