3 Stocks Contribute 38.85% to Total Weekly Trading Volume

3 Stocks Contribute 38.85% to Total Weekly Trading Volume

By Dipo Olowookere

Last week, investors transacted 457.0 million shares of Fidelity Bank, UBA and GTCO worth N4.5 billion in 4,982 deals, contributing 38.85 per cent and 26.92 per cent to the total weekly trading volume and value respectively. According to data from the Nigerian Exchange (NGX) Limited, a total of 1.2 billion shares worth N16.6 billion were traded in 21,076 deals in the week, lower than the 2.5 billion shares valued at N20.7 billion exchanged in 20,764 deals a week earlier.

It was observed that financial equities dominated the activity chart with 954.5 million units valued at N10.2 billion traded in 12,700 deals, contributing 81.14 per cent and 61.55 per cent to the total trading volume and value respectively.

Consumer goods shares trailed with 63.7 million units worth N3.439 billion in 2,720 deals, while conglomerates stocks traded 53.3 million units worth N258.6 million in 711 deals.

In the week, a total of 24 equities appreciated in price, higher than 21 equities in the previous week, while 44 equities depreciated in price, lower than 45 equities a week earlier, with 88 equities closing flat, lower than 90 equities recorded in the previous week.

CAP and Fidelity Bank were the best-performing stock last week as their value went up by 10.00 per cent each to close at N19.80 and N3.30 respectively. Learn Africa gained 9.60 per cent to sell for N2.17, Veritas Kapital rose by 9.52 per cent to 23 kobo, while FTN Cocoa increased by 9.37 per cent to 35 kobo.

However, the worst-performing stock was RT Briscoe, which depreciated by 17.50 per cent to 66 kobo, followed by UPDC, which went down by 12.00 per cent to 88 kobo.

GTCO lost 11.64 per cent to trade at N23.15, UBA declined by 11.56 per cent to N7.65, while Berger Paints went down by 9.64 per cent to N7.50.

At the close of transactions in the week, the All-Share Index (ASI) and market capitalisation depreciated by 0.67 per cent to 46,964.23 points and N25.311 trillion respectively.

Similarly, all other indices finished lower with the exception of AFR Div Yield and Meri growth indices, which appreciated by 1.81 per cent and 0.01 per cent respectively, the ASeM and growth indices closed flat.

Nigeria is Not an Oil-Dependent Economy—NNPC

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