Stock Market Posts Marginal Loss As Investors Trade 3.95bn Shares in One Week
- The Nigerian stock market closed the week lower as investors exchanged over 3.95 billion shares
- Data shows that the financial services stocks led the trading activity, followed by the ICT industry
- Market breadth was slightly negative, while Livestock Feeds and Fidson Healthcare led the decliners
Legit.ng journalist Dave Ibemere has experience in business journalism, with in-depth knowledge of the Nigerian economy, the stock market, and broader market trends.
The Nigerian Exchange closed the week lower, with the All-Share Index declining by 0.12% and market capitalisation dropping to N128.969 trillion.
Financial Services stocks dominated trading activity, accounting for 72.94% of total turnover by volume, with Wema Bank, Access Holdings, and United Bank for Africa among the most traded equities.
Source: Getty Images
Market breadth was slightly negative, as 47 equities advanced, while Livestock Feeds, Fidson Healthcare, and Cadbury Nigeria led the decliners.
Snapshot of the market last week
- A total of 3.950 billion shares worth N201.312 billion were traded on the Nigerian Exchange (NGX) in 359,642 deals, down from the previous week’s higher volume and value.
- The Financial Services sector dominated trading with 2.881 billion shares (72.94% of volume), followed by ICT and Agriculture.
- Top traded stocks include Wema Bank Plc, Access Holdings Plc, and United Bank for Africa Plc, which accounted for 36.65% of total volume.
- The NGX All-Share Index fell 0.12% to 200,913.06 points
Top price gainers
- Zichis Agro Allied Industries Plc: N8.58 to N13.79 (+N5.21, 60.72%)
- Premier Paints Plc: N23.40 to N37.50 (+N14.10, 60.26%)
- John Holt Plc: N11.85 to N18.95 (+N7.10, 59.92%)
- Legend Internet Plc: N6.00 to N7.50 (+N1.50, 25.00%)
- McNichols Plc: N6.15 to N7.42 (+N1.27, 20.65%)
- Presco Plc: N1,701.10 to N1,980.00 (+N278.90, 16.40%)
- Airtel Africa Plc: N2,270.00 to N2,497.00 (+N227.00, 10.00%)
- Trans-Nationwide Express Plc: N2.36 to N2.59 (+N0.23, 9.75%)
- Skyway Aviation Handling Company Plc: N144.90 to N158.95 (+N14.05, 9.70%)
- Eunisell Interlinked Plc: N143.95 to N157.90 (+N13.95, 9.69%)
Source: Getty Images
Top price decliners
- Livestock Feeds Plc: N8.10 to N7.15 (-N0.95, -11.73%)
- Fidson Healthcare Plc: N105.35 to N94.85 (-N10.50, -9.97%)
- Cadbury Nigeria Plc: N69.95 to N63.00 (-N6.95, -9.94%)
- Austin Laz & Company Plc: N4.45 to N4.01 (-N0.44, -9.89%)
- Learn Africa Plc: N9.35 to N8.50 (-N0.85, -9.09%)
- Eterna Plc: N36.90 to N33.75 (-N3.15, -8.54%)
- DEAP Capital Management & Trust Plc: N6.45 to N5.95 (-N0.50, -7.75%)
- Omatek Ventures Plc: N2.36 to N2.18 (-N0.18, -7.63%)
- Prestige Assurance Plc: N1.65 to N1.53 (-N0.12, -7.27%)
- FCMB Group Plc: N12.85 to N11.95 (-N0.90, -7.00%)
Elumelu buys Seplat shares
Earlier, Legit.ng reported that billionaire entrepreneur Tony Elumelu is set to further expand his wealth and influence after becoming the largest shareholder in Seplat Energy Plc through a $496 million acquisition.
Elumelu, via his investment vehicle Heirs Holdings and its subsidiary Heirs Energies Ltd, acquired a 20.07% equity stake in Seplat Energy
Source: Legit.ng
