The Nigerian stock market closed the week bearish as trading activity on the Nigerian Exchange (NGX) fell sharply, with investors recording a combined loss of N9.96 billion.
Data from the exchange showed that a total of 1.53 billion shares valued at N43.01 billion were traded in 51,156 deals this week — representing a 23.15 percent decline from last week’s 2.09 billion shares, worth N52.97 billion traded in 64,612 deals.
The trading assessment covered only a period of four days, as Friday (April 18) and Monday (April 21) were declared public holidays by the federal government to mark the Easter celebration.
TOP PERFORMING SECTORS
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The stock market report showed that the top three performing sectors for the week were the financial services, the consumer goods, and the services industries.
The NGX said the financial services sector led trading activity with 1.12 billion shares valued at N24.02 billion exchanged in 28,818 deals.
This accounted for 73.56 percent and 55.84 percent of the total equity turnover volume and value, respectively.
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The ICT sector followed with 101.25 million shares, valued at N4.82 billion in 2,541 deals, while the services sector recorded 99.78 million shares worth N1.23 billion in 3,063 transactions.
TOP THREE EQUITIES
Local bourse said Access Holdings, Fidelity Bank, and Universal Insurance were the top three equities.
According to the report, the three firms were the most traded stocks, accounting for 448.11 million shares worth N6.73 billion in 6,481 deals.
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The stocks jointly accounted for 29.39 percent of the total turnover volume and 15.65 percent of the total value.
TOP GAINERS OF THE WEEK
According to the bourse, 31 equities recorded gains during the week — an increase from 27 the previous week.
Abbey Mortgage Bank, the reprot said, was among the top five gainers, with a share that gained N2.83 or 46.17 percent.
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The company was said to have opened with a share price of N6.13 kobo per share and closed at N8.96 kobo.
The Nigerian Breweries also gained N4.2 or 13.13 percent in one week. This came after the brewer opened the week with N32 and closed with N36.2 kobo.
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The Associated Bus Company gained N0.16 or 12.7 percent as its stock rose from N1.26 to N1.42.
Also the stocks of Livestock Feeds appreciated by N0.96kobo or 11.24 percent to close the week at N9.5kobo.
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Unilever Nigeria closed the week at N38.05 kobo per share, up from N34.70 kobo — representing a gain of N3.35 or 9.65 percent.
TOP LOSERS OF THE WEEK
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According to the report, Guaranty Trust Holding Company’s (GTCO) stocks lost N9, dropping to N59 at the end of trading week.
Similarly, Zenith Bank’s share price lost N5.95 kobo, closing at N44, against the opening price of N49.95 kobo.
The NGX said DAAR Communications’ share price decreased to N0.56 kobo, down by N0.07 kobo from the N0.63 kobo per share it started the week with.
In addition, Caverton Offshore Support Group’s share price dropped from N2.54 kobo to N2.27 kobo per share, losing N0.27 kobo.
NGX also reported that RT Briscoe booked a 10.38 percent loss after the value of its share dropped to N1.9 kobo — down from N2.12 per share in four days.
