Investors Trade 1.4 billion Shares Worth N13.1bn in One Week

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Investors Trade 1.4 billion Shares Worth N13.1bn in One Week


 A total of 1.4 billion shares worth N13.1 billion were traded last week by investors in 19,315 deals on the floor of the Nigerian Exchange (NGX) Limited, data obtained by Business Post showed.

The turnover recorded at the exchange last week was more than the 1.3 billion stocks worth N8.7 billion transacted at the preceding week in 19,830 deals.

The turnover was driven by trades around FBN Holdings, Access Bank and Wema Bank, which accounted for 626.8 million units valued at N4.5 billion in 2,802 deals, contributing 43.95 per cent and 34.10 per cent to the total trading volume and value respectively.

A further breakdown showed that financial stocks led the activity chart with 1.1 billion shares valued at N8.2 billion traded in 10,700 deals, contributing 79.68 per cent and 62.73 per cent to the total trading volume and value respectively.

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Equities in the consumer goods space trailed with a turnover of 76.5 million units worth N1.4 billion in 3,076 deals, while shares in the conglomerates counter occupied the third position for trading 58.2 million units worth N186.293 million in 769 deals.

In the week, a total of 25 stocks closed on the gainers’ chart, lower than 26 stocks of the preceding week, while 34 shares depreciated in price, lower than 36 shares a week earlier, with 97 stocks closing flat, higher than 94 stocks of the previous week.

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Oando was the best-performing stock in the five-day trading week for rising by 14.00 per cent to N4.64 and was trailed by FTN Cocoa, which gained 11.11 per cent to sell at 50 kobo.

Mutual Benefits Assurance grew by 10.71 per cent to 31 kobo, United Capital appreciated by 8.99 per cent to N8.00, while Chams improved by 4.78 per cent to 22 kobo.

Conversely, Cornerstone Insurance finished the week as the worst-performing stocks with a loss of 15.79 per cent to trade at 48 kobo.

UPDC declined by 10.06 per cent to N1.61, SCOA Nigeria went down by 9.72 per cent to N1.30, GlaxoSmithKline decreased by 9.56 per cent to N6.15 per cent, while Wema Bank fell by 9.41 per cent to 77 kobo.

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At the close of the trading week, the All-Share Index (ASI) and market capitalisation depreciated by 0.86 per cent to 38,921.78 points and N20.279 trillion respectively.

All other indices finished lower with the exception of consumer goods, oil/gas and sovereign bond indices, which appreciated by 0.18 per cent, 2.28 per cent and 0.26 per cent respectively, the ASeM, industrial goods and growth counters closed flat.

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