Transactions on NGX drop 32% as eTranzact leads losers’ chart

Stock market investors traded 2.902 billion shares worth N48.064 billion in 57,044 transactions this week on the floor of the Nigerian Exchange Limited (NGX).

This is in contrast to a total of 3.281 billion shares valued at N63.517 billion that exchanged hands in 60,782 transactions last week.

The value of transactions traded by investors on the stock market dropped by 32 per cent.

The Financial Services Industry led the activity chart with 2.375 billion shares valued at N21.335 billion traded in 27,053 deals.

This contributed 81.85 per cent and 44.39 per cent to the total equity turnover volume and value respectively.

The Services Industry followed with 177.345 million shares worth N3.194 billion in 3,829 deals.

The third place was the Consumer Goods Industry, with a turnover of 104.381 million shares worth N3.305 billion in 5,587 deals.

Trading in the top three equities, including Sovereign Trust Insurance Plc, Jaiz Bank Plc, and Fidelity Bank Plc accounted for 1.497 billion shares worth N5.065 billion in 3,662 deals.

This contributed 51.59 per cent and 10.54 per cent to the total equity turnover volume and value respectively.

The NGX All-Share Index and market capitalisation depreciated by 0.94 per cent and 0.80 per cent, to close the week at 104,962.96 and N65.820 trillion, respectively.

Stock market rebounds as investors gain N65bn

Similarly, all other indices finished lower with the exception of NGX Consumer Goods which appreciated by 0.06 per cent while the NGX AseM and NGX Sovereign Bond indices closed flat.

32 equities appreciated in price during the week, lower than thirty-eight 38 equities in the previous week.

48 equities depreciated in price, higher than 46 in the previous week, while 70 equities remained unchanged, higher than 66 recorded in the previous week.

The top five decliners for the week include eTranzact International, Livestock Feeds, Red Star Express, Universal Insurance, and Caverton Offshore Support Group as they lost N1.70, N1.79, 98k, 8k, and 39k, respectively.

Neimeth International Pharmaceutical, Linkage Assurance, Nigeria Flour Mills, Academy Press, and Mutual Benefits Assurance were the top five gainers for the week, as they grew in 20.48 per cent, 13.49 per cent, 9.99 per cent, 9.92 per cent and 9.84 per cent  respectively.

The companies gained 51k, 17k, N7.25k, 26k, and 6k, respectively.

The NGX notified that Sterling Financial Holdings Company on Monday, listed 16,666,666,667 ordinary shares of 50 Kobo each at N4.50 per share offered through Private Placement.

This was listed on the Daily Official List of NGX.

With the listing of the additional shares, the total issued and fully paid-up shares of Sterling Financial Holdings Company Plc have now increased from 28,790,418,124 to 45,457,084,791 ordinary shares of 50k each.

Meanwhile, NGX30U5 and NGXPENSIONU5 Futures Contracts were also listed on NGX on Monday.

Also, Dangote Cement Plc’s N38,198,800,000 with a tenure of 10 years and 23.50 per cent Fixed Rate Senior Unsecured Bonds due 2034 under the N300 billion Dangote Cement Plc Bond Multi-Instrument Issuance Programme were listed on NGX on Thursday.

The Star