IN DETAIL: NGX records 21% drop in trade as investors exchange N90bn shares

Stock market investors traded 2.28 billion shares valued at N90.28 billion in 138,177 deals between October 6 and October 10.

The stock market weekly report of the Nigerian Exchange Limited (NGX) showed that the figures are lower compared to the previous week when investors traded 8.4 billion shares valued at N115.5 billion in 115,801 deals.

NGX reported a 21.83 percent trade decline within a five-day period.

TOP PERFORMING SECTORS

The report showed that the financial services industry was the top performing sector by volume of shares traded, as investors exchanged 1.35 billion shares valued at N24.58 billion in 59,553 deals.

According to NGX, the industry contributed 59.28 percent and 27.23 percent to the total equity turnover volume and value, respectively.

The ICT industry followed with 182.82 million shares worth N7.8 billion in 12,597 deals.

Third place was the agriculture industry, with a turnover of 181.5 million shares worth N3.54 billion in 8,924 deals.

TOP THREE EQUITIES

The top three trading equities in the period reviewed are Ellah Lakes Plc, Chams Holding Company Plc, and Fidelity Bank Plc.

Measured by volume, the bourse said the three equities accounted for 430.96 million shares worth N5.59 billion in 10,254 deals — contributing 18.86 percent and 6.20 percent to the total equity turnover volume and value, respectively.

TOP GAINERS OF THE WEEK

Sovereign Trust Insurance Plc’s stock gained N0.46 kobo, ending the week at N3.21 kobo per share, higher than the N2.75 kobo it started with.

Omatek Ventures Plc’s share price rose to N1.37 kobo per share from N1.22 kobo — gaining N0.15 kobo.

The share price of AXA Mansard Insurance Plc rose by N1.7 kobo to end the week at N16.1 kobo — up from its opening price of N14.4 kobo.

Chams Holding Company Plc’s share value grew to N4.3 kobo per share, recording an increase of N0.45 kobo from N3.85 kobo.

Also, the shares of Eunisell Interlinked Plc closed the week at N44 per share from N39.5 kobo, appreciating by N4.5 kobo.

TOP FIVE DECLINERS OF THE WEEK

Further analysis showed that Livingtrust Mortgage Plc lost N0.89 kobo to settle at N5.2 kobo, following below the N6.09 it opened the week with.

The report also said Neimeth International Pharmaceuticals Plc lost N0.74 kobo to close at N6.01 per share, against the opening price of N6.75 kobo.

UH Real Estate Investment Trust Plc’s share price fell from N57.6 kobo to N51.85 kobo per share, losing N5.75 kobo within five days.

The share price of Meyer Plc dropped by 9.85 percent to N15.1 kobo, recording a loss of N1.65 kobo from the N16.75 per share it started trading with.

Juli Plc also recorded a loss of 9.6 percent as its share price dropped to N8.95 kobo per share from N9.9 kobo.