Weekly Transactions on Local Stock Exchange Grow 30.41%

Weekly Transactions on Local Stock Exchange Grow 30.41%

By Dipo Olowookere

The volume of transactions witnessed at the local stock exchange last week increased by 312 million units or 30.41 per cent to 1.338 billion units from 1.026 billion units.

Business Post reports that these trades were valued at N8.7 billion executed in 19,830 deals compared with the preceding week’s N8.2 billion carried out in 18,102 deals.

Transcorp, Honeywell Flour Mills and Access Bank accounted for 450.6 million units worth N1.5 billion in 3,696 deals, contributing 33.66 per cent and 17.25 per cent to the total trading volume and value respectively.

In terms of the sectors, the financial services space led the activity chart with 615.6 million units valued at N4.2 billion traded in 9,021 deals, accounting for 45.99 per cent and 48.42 per cent of the total trading volume and value respectively.

It was trailed by the conglomerates industry with 253.4 million units worth N280.8 million in 1,126 deals, and the consumer goods counter with 185.9 million units valued at N1.593 billion transacted in 4,107 deals.

A total of 26 stocks closed on the gainers’ chart last week, lower than the 35 stocks of the prior week, while 36 equities finished on the losers’ table, higher than the 29 equities of the earlier week, with 94 shares closing flat, lower than 92 of the previous week.

Transcorp Hotels was the best-performing stock, rising by 10.00 per cent to N5.17, followed by Skyway Aviation, which rose by 9.46 per cent to N4.05.

Presco gained 8.90 per cent to sell for N79.50, Cornerstone Insurance grew by 7.55 per cent to 57 kobo, while AIICO Insurance appreciated by 5.10 per cent to N1.03.

The worst-performing stock of the week was Oando, which fell by 15.21 per cent to N4.07, followed by Mutual Benefits Assurance, which lost 12.50 per cent to sell for 28 kobo.

Courtville depreciated in the week by 12.12 per cent to 29 kobo, Unity Bank declined by 10.00 per cent to 54 kobo, while Lasaco Assurance went down by 9.74 per cent to N1.39.In the week, the All-Share Index and the market capitalisation, due to sell pressure, depreciated by 0.57 per cent week-on-week to close 39,261.01 points and N20.456 trillion respectively.All other indices finished lower with the exception of insurance, AFR Div Yield, MERI growth, Meri value and sovereign bond indices, which appreciated by 0.79 per cent, 0.11 per cent, 0.03 per cent, 0.31 per cent and 0.65 per cent respectively, while the ASeM […]

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