By Dipo Olowookere
The Nigerian Stock Exchange (NGX) Limited was very busy last week as investors took advantage of the recent rise in share prices to take profits, leading to increased activity in the market.
During the week, investors traded 3.021 billion shares worth N31.784 billion in 29,153 deals, compared to 1.816 billion shares worth N27.194 billion traded in 36,286 deals last week. previous week.
According to exchange data, FCMB Jaiz Bank and Transcorp accounted for 1.698 billion units worth N4.095 billion in 2,188 transactions, contributing 56.21% and 12.88% to volume and value respectively. total transactions.
A further breakdown revealed that financial stocks accounted for 2.244 billion units valued at N12.399 billion traded in 10,817 deals, contributing 74.30% and 39.01% to total deal volume and value respectively.
Conglomerate stocks followed with 345.806 million units worth N558.873 million in 1,676 trades, while consumer goods stocks traded 149.009 million units worth N2.750 billion in 5,632 transactions.
Profit taking seen last week sent the market down 0.22% on a weekly basis, with the All-Share Index (ASI) falling from 53,098.46 points to 52,979.96 points and the market capitalization falling to N28.562 billion. N28.626 billion.
Similarly, all the other indices ended lower except for the NGX-Main Board, insurance, NGX MERI Growth and energy indices which appreciated at 1.60%, 3.63%, 0.14% and 0. .30% while Asem and sovereign bond indices closed flat. .
Business post reports that the price of 50 shares appreciated during the week, higher than 49 shares the previous week, while the price of 32 shares depreciated, similar to the previous week, with 74 shares closing flat, lower to 75 shares recorded the previous week
McNichols posted the largest price increase gaining 59.52% to end at N1.34, Royal Exchange rose 51.49% to N1.53, Champion Breweries rose 30.84% to N4, 37, International Breweries was up 30.37% at N8.80, while Okomu Oil was up 26.47% at N215.00.
On the other hand, Academy Press reported the biggest drop of the week with a fall of 13.71% to close at N1.51, Ikeja Hotel lost 10.94% to trade at N1.14, Guinness Nigeria fell 10.91% to N98. 00, Tripple Gee was down 9.38% to N87 kobo, while Caverton was down 9.09% to N1.20.