Fidson Gains 18.11% in One Week, Closes Best Performing Stock

By Dipo Olowookere

One of the leading healthcare equities on the Nigerian Stock Exchange (NSE), Fidson Healthcare, emerged as the best performing stock last week.

Shares of the company appreciated by 18.11 per cent or 48 kobo in the 5-day trading session to settle at N3.13 per unit.

It was followed by Unity Bank, which grew by 15.56 per cent to close at 52 kobo per share, and Royal Exchange, which gained 14.81 per cent to end at 31 kobo per unit.

Furthermore, Custodian Investment improved by 14.58 per cent to N5.50 per share, while Julius Berger gained 10.00 per cent to N17.05 per unit.

On the flip side, Prestige Assurance was the worst-performing stock in the week, losing 14.81 per cent to sell at 46 kobo per share.

International Breweries depreciated by 10.53 per cent to settle at N3.40 per unit, Seplat dropped 10.00 per cent to quote at N347.40 per share, Cornerstone Insurance declined by 9.09 per cent to 50 kobo per unit, while CAP fell by 8.23 per cent to N18.95 per share.

According to data from the exchange, 28 equities appreciated in price during the week, higher than 26 equities in the previous week, while 25 equities depreciated in price, lower than 36 equities in the previous week, with 110 equities remained unchanged, higher than 101 equities recorded in the previous week.

A total of 1.4 billion shares worth N14.4 billion were traded in 16,723 deals during the week by investors in contrast to the 1.0 billion shares valued at N7.4 billion that exchanged hands a week earlier in 18,092 deals.

As expected, the financial services industry led the activity chart by volume with 847.7 million shares valued at N5.7 billion traded in 9,068 deals, contributing 62.77 per cent and 39.14 per cent to the total equity turnover volume and value respectively.

The conglomerates sector followed with 176.4 million shares worth N821.3 million in 400 deals, while the consumer goods industry trailed, with 158.0 million shares worth N3.8 billion in 2,563 deals.

Trading in FBN Holdings, UAC Nigeria and UBA accounted for 434.5 million shares worth N2.4 billion in 2,270 deals, contributing 32.18 per cent and 16.68 per cent to the total equity turnover volume and value respectively.

In the week, the All-Share Index (ASI) and market capitalisation both appreciated by 0.58 per cent to close the week at 24,427.73 points and N12.743 trillion respectively.

All other indices finished higher with the exception of the main board, banking, insurance, NSE AFR Bank Value, NSE AFR Div Yield, NSE MERI Value, consumer goods and oil/gas indices which depreciated by 1.04 per cent, 0.62 per cent, 0.80 per cent, 0.38 per cent, 0.69 per cent, 1.45 per cent, 0.38 per cent and 4.67 per cent respectively while NSE ASeM closed flat.

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 dipo.olowookere@businesspost.ng

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