Dipo Olowookere
By Dipo Olowookere
Last week, trading in Zenith Bank, Sterling Bank and Fidelity Bank accounted for 261.3 million shares worth N2.7 billion traded in 2,862 deals, contributing 24.70 per cent and 21.13 per cent to the total weekly equity turnover volume and value respectively.
These equities were among the 714.7 million units of financial stocks worth N6.0 billion traded in the week in 9,718 deals on the floor of the Nigerian Exchange (NGX) Limited, which led the activity chart by contributing 67.53 per cent and 46.38 per cent to the total equity turnover volume and value respectively.
Consumer goods shares followed with 97.2 million shares worth N3.3 billion traded in 3,006 deals, while the third place was occupied by ICT stocks with a turnover of 76.0 million units valued at N583.7 million executed in
679 deals.
In the week, investors transacted 1.1 billion equities worth N12.9 billion in 17,854 deals in contrast to the previous week’s 1.1 billion stocks worth N9.6 billion carried out in 17,933 deals.
Business Post reports that a total of 35 shares closed on the gainers’ chart in the week, higher than the 33 stocks recorded in the preceding week, while 36 equities ended on the losers’ log, higher than 33 equities of the earlier week, with 89 stocks closing flat, lower than 94 stocks of the previous week.
Cutix was the best-performing stock as its share value rose by 23.56 per cent to close at N2.78, followed by Okomu Oil, which gained 20.73 per cent to sell for N116.50.
Morison Industries appreciated by 9.73 per cent to trade at N1.24, Conoil increased by 9.63 per cent to quote at N20.50, while PZ Cussons appreciated by 9.09 per cent to N6.00.
The worst-performing stock of the week was CWG as a result of the 26.14 per cent decline it suffered, causing its value to slump to N1.13.
FTN Cocoa lost 15.38 per cent to trade at 33 kobo, NEM Insurance went down by 13.46 per cent to N1.80, Juli depreciated by 9.93 per cent to N1.36, while Stanbic IBTC went down by 9.09 per cent to N41.00.
When trading activities were halted for the week, the All-SHare Index and the market capitalisation increased week-on-week by 1.11 per cent to 39,156.28 points and N20.409 trillion respectively.
Similarly, all other indices finished higher with the exception of insurance, ASeM and sovereign bond which depreciated by 4.12 per cent, 2.00 per cent and 1.45 per cent respectively, while the growth index closed flat.
