The Nigerian stock market closed the week bearish as trading activity on the Nigerian Exchange (NGX) fell sharply by 20.5 percent.
Data from the bourse showed that a total of 3.19 billion shares valued at N85.39 billion were traded in 142,477 deals between Monday and Friday.
The transaction value dropped compared to the 4.77 billion shares worth N107.42 billion exchanged in 152,965 deals last week.
TOP PERFORMING SECTORS
The stock market report showed that the top three performing sectors for the week were the financial services, the consumer goods industry, and the services industry.
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The financial services sector led market activity with 2.19 billion shares, valued at N42.68 billion and traded in 66,808 deals.
According to the bourse, the sector accounted for 68.61 percent and 49.99 percent of the total equity turnover volume and value, respectively.
The consumer goods industry followed with 277.88 million shares worth N9.91 billion in 15,518 deals.
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The exchange listed the services industry in third place, with a turnover of 178.99 million shares, amounting to N1.3 billion and traded in 7,580 deals.
TOP THREE EQUITIES
The NGX said the top three equities were FCMB Group Plc, Champion Breweries Plc, and Access Holdings Plc.
Measured by volume, the bourse said the three equities accounted for 778.60 million shares worth N13.15 billion recorded in 11,288 deals.
The three equities contributed 24.34 percent and 15.4 percent to the total equity turnover volume and value, respectively.
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TOP GAINERS OF THE WEEK
According to the report, the top five gainers were McNichols Plc, whose share gained N0.6 kobo, ending the week with N3.8 kobo per share — higher than the N3.2 kobo it started with.
The share price of NEM Insurance Plc rose to N31.2 kobo from N26.6 kobo — up by N4.6 kobo.
Also, Berger Paints Plc saw its stock price rise by N4.9 kobo to end the week with N36.9 kobo — up from its opening price of N32.
The NGX report said Coronation Insurance Plc’s share price grew to N3.62 kobo per share, an increase of N0.41 kobo from N3.21 kobo.
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Learn Africa Plc’s share price was said to have closed the week at N7.8 kobo per share from N7 — appreciating by N0.8 kobo.
TOP LOSERS OF THE WEEK
At the end of the trading week, the share price of Secure Electronic Technology lost N0.25 kobo, dropping to N0.85 kobo, from the N1.1 kobo it opened with.
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The report said Guinea Insurance closed at N1.42 kobo per share, against the opening price of N1.77 kobo, losing N0.35 kobo.
Lasaco Assurance Plc recorded a 13.29 percent decrease in its share price, which fell to N3, from the N3.46 kobo per share it started the week with.
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The NGX said University Press Plc’s share price fell from N6.3 kobo to N5.54 kobo per share, losing 12.06 percent.
In addition, Mutual Benefits Assurance Plc reported a loss of N0.5 kobo, after the value of its share price dropped to N3.9 kobo per share from N4.4 kobo.
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