NGX Boom: Trading Up

Investors in stock market traded 3.281 billion shares worth N63.517 billion in 60,782 transactions on the Nigerian Exchange Ltd. (NGX) during the week.

NGX, in its weekly report made available in Lagos, said this was in contrast to 1.818 billion shares valued at N47.226 billion in 64,222 deals last week.

Consequently, the value of transactions traded by investors on the Exchange soared by 34.5 per cent.

The Financial Services Industry led the activity chart with 2.302 billion shares valued at N25.014 billion traded in 27,625 deals.

This contributed 70.17 percent and 39.38 percent to the total equity turnover volume and value, respectively.

The Consumer Goods industry followed with 421.846 million shares worth N3.796 billion in 6,149 deals.

The third place was the Services Industry, with a turnover of 228.075 million shares worth N800.274 million in 4,741 deals.

Trading in the top three equities namely Sovereign Trust Insurance Plc, Champion Breweries Plc and Jaiz Bank Plc accounted for 1.621 billion shares worth N3.244 billion in 1,528 deals.

This contributed 49.42 percent and 5.11 percent to the total equity turnover volume and value, respectively.

38 equities appreciated during the week, higher than the 30 equities in the previous week.

46 equities depreciated, lower than 58 in the previous week, while 66 equities remained unchanged, higher than 62 recorded in the previous week.

The top five decliners for the week were: Neimeth International Pharmaceutical, Mecure industries, International Energy Insurance, University Press and Conoil as they lost 51k, N1.30, 20k, 48k and N36.80, respectively.

Livestock Feeds, Caverton Offshore Support Group, FTN Cocoa Processors, CWG, and Tantalizer were the top five gainers for the week as they grew in 22.16 percent, 15.38 percent, 14.20 percent, 13.21 percent, and 13.14 percent, respectively.

The companies gained N1.85, 40k, 23k, N1.05 and 34k, respectively. (NAN)