Equity investors record N8bn gain in one week

The bullish trading experienced in recent times on the Nigerian Exchange Limited slowed this past week, recording a gain of N8bn for investors.

With market capitalisation ending at N35.994tn previous Friday, trading activities kicked off on a positive note on the NGX, appreciating to N35.539tn on Monday.

It went higher to N35.932tn on Tuesday, but suffered a continuous decline in the next three trading sessions, following the announcement of an increase in the Monetary Policy Rate to 18.50 per cent, to end at N35.402 on Friday.

The NGX All-Share Index and Market capitalisation appreciated slightly by 0.02 per cent.

Similarly, all other indices finished higher except for NGX Main Board, NGX CG, NGX Banking, NGX Insurance, NGX AFR. Bank Value, NGX AFR. Div. Yield, NGX MERI Value, NGX Consumer Goods and NGX Industrial Goods Indices which depreciated by 0.16 per cent, 0.90 per cent 2.21 per cent, 1.60 per cent, 2.20 per cent, 1.78 per cent, 0.65 per cent, 2.36 per cent and 0.31 per cent respectively, while the NGX ASeM and NGX Sovereign Bond Indices closed flat.

A total turnover of 2.854 billion shares worth N37.645bn in 41,547 deals was traded last week by investors on the floor of the NGX, in contrast to a total of 4.182 billion shares valued at N99.048bn that exchanged hands in previous week in 41,446 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.936 billion shares valued at N27.704bn traded in 20,839 deals; contributing 67.84 per cent and 73.59 per cent to the total equity turnover volume and value.

Oil and gas industry followed with 328.578 million shares worth N2.073bn in 3,252 deals. The third place was the Conglomerates Industry, with a turnover of 156.660 million shares worth N692.091m in 2,139 deals.

Trading in the top three equities namely FBN Holding Plc, Japaul Gold & Ventures Plc and United Bank for Africa Plc (measured by volume) accounted for 988.076 million shares worth N13.278 bn in 5,887 deals, contributing 34.62 per cent and 35.27 per cent to the total equity turnover volume and value.

Thirty-nine equities appreciated during the week lower than 73 equities in the previous week. Fifty-four equities depreciated higher than 19 in the previous week, while 62 equities remained unchanged, lower than the 64 recorded in the previous week.

Gainers for the week include, Skyway Aviation which gained 43.83 per cent to close at N23.30, and Lasaco Assurance gained 26.88 per cent to close at N2.03. Nascon Allied Industries gained 24.14 per cent to close trading at N36, FTN Cocoa processors gained 23.50 per cent to close at N2.47 and Japaul Gold gained 21.43 per cent to close at N1.02.

On the losers’ chart for the week were Cadbury Nigeria which lost 26.76 per cent to close trading at N12.45, John Holt lost 23.08 per cent to close at N2.20, Multiverse lost 19.68 per cent to close at N2.98. Paper producer, Thomas Wyatt lost 17.20 per cent of its share value to close at N1.30 and Nigerian Breweries’ shares depreciated by 16.38 per cent to close at N36.50.