Investors embarked on cautious trading on the Nigerian Exchange (NGX) Limited last week, resulting in a slowdown in market activity.
According to data obtained by Business Post, the activity level was lower than the preceding week, with market participants transacting 3.199 billion shares worth N85.399 billion in 142,477 deals in the five-day trading week compared with the 4.773 billion shares valued at N107.426 billion traded in 152,965 deals a week earlier.
The financial services industry led the activity chart with 2.195 billion stocks sold for N42.689 billion in 66,808 deals, contributing 68.61 per cent and 49.99 per cent to the total trading volume and value, respectively.
The consumer goods sector transacted 277.881 million equities worth N9.910 billion in 15,518 deals, and the services counter exchanged 178.992 million shares worth N1.308 billion in 7,580 deals.
FCMB, Champion Breweries, and Access Holdings were the busiest stocks on Customs Street in the week, accounting for 778.603 million units valued at N13.155 billion in 11,288 deals, contributing 24.34 per cent and 15.40 per cent to the total trading volume and value apiece.
The Nigerian bourse was under selling pressure last week and at the close of business last Friday, 32 equities appreciated versus 43 equities in the previous week, 57 shares depreciated versus 54 shares a week earlier, and 57 stocks remained unchanged versus 49 stocks in the preceding week.
Secure Electronic Technology topped the losers’ log after it shed 22.73 per cent to settle at 85 Kobo, Guinea Insurance lost 19.77 per cent to close at N1.42, Lasaco Assurance slumped by 13.29 per cent to N3.00, University Press slipped by 12.06 per cent to N5.54 per cent, and Mutual Benefits depreciated by 11.36 per cent to N3.90.
On the flip side, McNichols led the gainers’ gang after its value went up by 18.75 per cent to N3.80, NEM Insurance gained 17.29 per cent to quote at N31.20, Berger Paints rose by 15.31 per cent to N36.90, Coronation Insurance chalked up 12.77 per cent to sell for 3.62, and Learn Africa improved by 11.43 per cent to N7.80.
In the week, the All-Share Index (ASI) and the market capitalisation respectively went down by 0.50 per cent and 0.49 per cent to 140,295.50 points and N88.769 trillion.
In the same vein, all other indices finished lower apart from AFR Div Yield, which gained 0.94 per cent and the AseM index, which closed flat.