Equity Market Records Weekly Turnover of 2.187 billion Shares Worth N50.667bn

By Dipo Olowookere

At the Nigerian Exchange (NGX) Limited last week, a turnover of 2.187 billion shares worth N50.667 billion was recorded in 45,277 deals compared with the previous week’s 1.941 billion shares valued at N32.644 billion traded in 35,807 deals.

The rise in transaction volume was characterised by selling pressure, which brought down the All-Share Index (ASI) and the market capitalisation by 1.36 per cent and 1.35 per cent to 98,233.76 points and N55.562 trillion, respectively.

Similarly, all other indices finished lower except NGX CG, Premium, AFR Bank Value, AFR Div Yield, industrial goods, Growth and sovereign bond indices, which grew by 0.12 per cent, 0.20 per cent, 1.84 per cent, 0.79 per cent, 0.07 per cent, 0.02 per cent and 1.30 per cent apiece, while the ASeM index closed flat.

Business Post reports that the financial services industry led the activity chart with 1.428 billion shares valued at N28.850 billion traded in 24,418 deals, contributing 65.29 per cent and 56.94 per cent to the total trading volume and value, respectively.

The consumer goods space followed with 385.661 million shares worth N9.919 billion in 5,826 deals, and the conglomerates sector occupied third position with 133.697 million shares worth N1.715 billion in 3,271 deals.

UBA, Nigerian Breweries and Access Holdings accounted for 1.020 billion shares worth N23.631 billion in 9,587 deals, contributing 46.63 per cent and 46.64 per cent to the total trading volume and value apiece.

In the week, 40 equities appreciated versus 42 equities in the previous week, 37 shares depreciated versus 36 shares in the preceding week, and 77 stocks closed flat versus 76 stocks a week earlier.

PZ Cussons lost 26.97 per cent to close at N27.75, McNichols lost 20.18 per cent to finish at 91 Kobo, Secure Electronic Technology fell by 16.95 per cent to 49 Kobo, International Breweries declined by 15.27 per cent to N4.05, and AXA Mansard dropped 12.90 per cent to N5.13.

On the other side, Tantalizers gained 27.78 per cent to trade at 46 Kobo, FTN Cocoa rose by 20.00 per cent to N1.62, Presco improved by 15.31 per cent to N291.50, May and Baker grew by 15.00 per cent to N6.90, and The Initiates also expanded by 15.00 per cent to N2.30.

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