IN DETAIL: NGX market valuation drops by N832bn | Investors reduce trade by 2.5%

The Nigerian Exchange (NGX) Limited says equity investors traded a total of 3.11 billion shares worth N90.29 billion in 118,018 deals for four days.

This is lower by 2.56 percent compared to the 3.19 billion shares, valued at N85.39 billion, that exchanged hands in 142,477 deals the previous week.

Nigeria’s stock market operated for four days due to the public holiday to mark Eid-ul-Maulud celebration on Friday.

NGX also said the all-share index (ASI) depreciated by 0.94 percent, to close the week at 138,980.01 ASI, from 140,295.50 the previous week.

In addition, the market capitalisation declined by N832 billion to N87.93 trillion, from N88.76 trillion.

TOP PERFORMING SECTORS 

According to trading data, the financial services industry led the activity chart with 2.54 billion shares valued at N30.35 billion in 52,390 deals.

The bourse said this accounted for 81.55 percent and 33.62 percent of the total equity turnover volume and value, respectively.

“The Services Industry followed with 114.610 million shares worth N816.381 million in 6,098 deals. Third place was the Consumer Goods Industry, with a turnover of 105.452 million shares worth N5.492 billion in 13,346 deals,” NGX said.

TOP THREE EQUITIES

According to the NGX report, the top three trading equities in the period reviewed are Sovereign Trust Insurance Plc, Access Holdings Plc and Fidelity Bank Plc.

When measured by volume, the firms accounted for 1.68 billion shares worth N9.81 billion in 9,367 deals.

The companies, NGX said, contributed 54.05 percent and 10.87 percent to the total equity turnover volume and value, respectively.

TOP GAINERS OF THE WEEK

The report further showed that Sovereign Trust Insurance Plc was the week’s top gainer, as it share value appreciated by 14.23 percent to close at N2.97 per share, up from N2.60 kobo it opened with.

It was followed by Secure Electronic Technology, with the share rising by 12.94 percent to N0.96 kobo as against the N0.85 kobo it started with.

Cornerstone Insurance Plc saw its stock gain 12.36 percent to close at N7.18 kobo — up from its opening price of N6.39 kobo.

NCR Nigeria Plc share value rose to N11.55 kobo from N12.70 kobo, appreciating by 9.96 percent

Also, SCOA Nigeria’s share price increased by 9.83 percent to N6.59 kobo, rising from the N6 it opened with.

TOP FIVE DECLINERS OF THE WEEK

According to the report, at the end of trading, DAAR Communications led the decliners, shedding 21.10 percent to close at N0.88 kobo per share, depreciating from N1.09 kobo it opened the week with.

UPDC Plc followed next with its shares falling 13.85 percent to N5.60 kobo after losing N0.90 kobo from its opening price of N6.50 kobo per share.

AIICO Insurance’s share price dropped by N0.55 kobo to N3.49 kobo, down from the N4.04 per share at which it started trading.

Similarly, Champion Breweries’ share price fell from N17.30 kobo to N15 per share, losing N2.30 kobo.

The NGX said PZ Cussons lost 36.90 percent to close at N32 – down by N4.90 kobo in four days.