Dipo Olowookere
By Dipo Olowookere
The value of shares bought and sold on the floor of the Nigerian Exchange (NGX) Limited last week reduced by 14.79 per cent to N12.1 billion from N14.2 billion recorded the preceding week.
This was despite the increase in the trading volume and the number of deals in the five-day trading week.
Business Post reports that a total of 1.4 billion shares were traded in 21,581 deals last week as against the 1.0 billion shares transacted in 17,565 deals a week earlier.
Analysis showed that Fidelity Bank, FBN Holdings and Zenith Bank were the most active, accounting for 310.8 million units worth N3.2 billion in 3,289 deals and contributing 23.06 per cent and 26.08 per cent to the total trading volume and value respectively.
At the close of transactions, financial equities led the activity chart with 892.2 million units worth N7.1 billion traded in 11,592 deals, accounting for 66.20 per cent and 58.20 per cent of the total trading volume and value respectively.
ICT stocks trailed with 110.1 million units worth N776.4 million in 744 deals, while the third place was occupied by conglomerates shares with 100.0 million units valued at N216.5 million executed in 788 deals.
A total of 44 stocks finished on the gainers’ log in the week, higher than 43 stocks of the previous week, while 22 shares were on the losers’ table, lower than 26 shares of the earlier week, with 90 equities closing flat, higher than 87 equities of the prior week.
UPDC was the best-performing stock of the week as its value rose by 40.70 per cent to N1.21 and was followed by Cutix, which gained 21.00 per cent to sell at N3.63.
John Holt appreciated by 19.67 per cent to 73 kobo, Sovereign Trust Insurance gained 15.38 per cent to 30 kobo, while Consolidated Hallmark Insurance grew by 11.11 per cent to 70 kobo.
At the other side, the worst-performing stock was Red Star Express, which lost 15.26 per cent to settle at N3.11.
Eterna depreciated by 14.80 per cent to trade at N6.39, Linkage Assurance went down by 12.94 per cent to 74 kobo, Prestige Assurance dropped 10.00 per cent to 45 kobo, while Airtel Africa fell by 9.99 per cent to N601.00.
At the close of business for the week, the All-Share Index (ASI) and market capitalisation decreased by 0.57 per cent and 0.62 per cent to 37,994.19 points and N19.796 trillion respectively.
Data from the exchange showed that all other indices finished higher with the exception of the main board, consumer goods and Lotus II indices, depreciated by 2.22 per cent, 0.32 per cent and 0.23 per cent respectively, while the ASeM and growth indices closed flat.
