IN DETAIL: Investors traded N119bn shares on NGX in five days — up by 59%

Equity investors on the Nigerian Exchange (NGX) recorded a total turnover of 3.794 billion shares worth N119.39 billion in 89,636 deals between May 26 and May 30.

Although volume dipped from 3.932 billion shares recorded in the previous week, the value of shares traded rose sharply by 59.5 percent from N74.813 billion despite fewer deals (89,636) compared to the 105,220 recorded in the last trading week.

According to the report, the all-share index — which measures the performance of all stocks listed on the local bourse — appreciated by 2.49 percent to close the week at 111,742.01, while the market capitalisation rose to N70.46 trillion.

TOP PERFORMING SECTORS

According to the report, the top three performing sectors for the week are the financial services, services, and the consumer goods industries.

The NGX said the financial services sector maintained dominance on the activity chart, accounting for 2.744 billion shares valued at N79.805 billion in 36,458 deals.

This, the report said, represents 72.34 percent of the total trading volume and 66.84 percent of the total value, highlighting continued investor appetite for bank and financial institution equities.

According to the report, the consumer goods industry saw a turnover of 201.889 million shares valued at N7.623 billion across 11,922 deals, while the services sector ranked third with 173.748 million shares worth N1.719 billion traded in 6,385 deals.

TOP THREE EQUITIES

The data also showed that three stocks — the United Bank for Africa (UBA) Plc, Fidelity Bank Plc, and Access Holdings Plc — topped the market this week.

Combined, they accounted for 1.942 billion shares worth N61.542 billion in 12,443 deals, representing 51.19 percent of total volume and 51.54 percent of total value traded on the exchange.

TOP FIVE GAINERS OF THE WEEK

Further analysis of the data showed that University Press’s share appreciated by N1.54 kobo and ended the week at N5.9 per share, compared to the opening price of N4.36 kobo.

The share price of Red Star Express Plc increased by N1.61 kobo from N6.71 kobo to N8.62 kobo.

Omatek Venture’s share gained N0.13 kobo to close the week at N0.78 kobo.

Also, the share price of the Associated Bus Company appreciated by 0.46 percent to N2.95 kobo per share – up from N2.49 kobo.

The bourse said the Nig. Flour Mills closed the week at N138.9 kobo per share, up from N118.7 kobo per share, representing a gain of N20.2 kobo.

TOP FIVE DECLINERS OF THE WEEK

The NGX said Abbey Mortgage Bank Plc’s share depreciated by N2.05 kobo, dropping to N5.58 from N7.63 kobo.

Legend Internet Plc’s share price lost N1.44 kobo, closing at N6.16 per share, down from the opening price of N7.6 kobo.

The Nigerian Enamelware Plc’s share price decreased to N20.55 kobo from N25.3 kobo after losing N4.75 kobo.

In addition, the report said the share price of the Industrial & Medical Gases Nigeria declined from N39.85 kobo to N33.65 kobo per share, losing N6.3 kobo.

The NGX said Multiverse Mining and Exploration Plc also recorded a loss of N1.4 percent after the value of its shares dropped to N7.6 kobo per share from N9 per share in five days.