IN DETAIL: Market activity falls by 14% as NGX records N85bn trade

The stock market closed the week on a bearish note as trading activity on the Nigerian Exchange (NGX) declined sharply by 14.5 percent.

Data from the bourse showed that investors traded 2.74 billion shares, valued at N85.2 billion, in 127,284 deals between Monday and Friday.

The figure represents a decline compared to the 3.19 billion shares worth N99.7 billion traded in 132,711 deals last week.

The NGX also said the all-share index and market capitalisation appreciated by 0.92 percent to close the week at 141,845.35 and N89.744 trillion, respectively.

TOP PERFORMING SECTORS

According to the trading data released by the NGX, the financial services industry led the activity chart with 1.91 billion shares valued at N37.8 billion in 56,026 deals.

This, the bourse said, accounted for 69.8 percent and 44.4 percent of the total equity turnover volume and value, respectively.

“The ICT sector followed with 184.9 million shares valued at N6.2 billion in 12,893 deals, while the services industry recorded 176.5 million shares worth N813.3 million in 6,011 deals,” NGX said.

TOP THREE EQUITIES

The NGX said the top three equities by volume are Abbey Mortgage Bank Plc, Fidelity Bank Plc, and United Bank for Africa Plc.

The three companies recorded a combined turnover of 875.8 million shares, valued at N16.4 billion in 11,389 deals.

Together, they contributed 32 percent and 19.3 percent to the total equity turnover volume and value, respectively, the NGX added.

TOP GAINERS OF THE WEEK

On the gainers’ chart, Guinness Nigeria Plc led with a 28.6 percent share price increase, rising from N143 to N183.90 kobo per share.

Multiverse Mining and Exploration Plc, which gained 21.3 percent to close at N13.95 kobo per share – up from N11.50 kobo.

The share price of Eunisell Interlinked Plc rose by 20.3 percent from N25.40 kobo to N30.55 kobo.

Also, E-Tranzact International Plc appreciated by 11.7 percent to N16.70 – up from N14.50 kobo.

Chellarams Plc gained 9.77 percent, moving from a share price of N13.30 kobo to N14.60 kobo per share.

TOP FIVE DECLINERS OF THE WEEK

According to the report, at the end of trading, Omatek Ventures Plc recorded the highest decline of 18.2 percent, falling from N1.32 kobo to N1.08 kobo per share.

Cornerstone Insurance Plc followed next after dropping 15.4 percent to N6.20 kobo — from 7.33 kobo per share.

Secure Electronic Technology Plc shed 12.8 percent to settle at a share price of N0.75 after starting the week with N0.86 kobo per share.

The NGX said Royal Exchange Plc’s share value also fell by 11.3 percent to N2.04 kobo per share from N2.30 kobo.

In addition, United Bank for Africa Plc lost 9.2 percent after opening at N48.70 kobo and closed at N44.20.