Market News

Stock market players traded 2.90 billion shares valued at N48.06 billion in 57,044 deals between Monday and Friday, according to data from the Nigerian Exchange Limited (NGX).

In its weekly market report for March 17 to March 21, the NGX said the figure represents a decrease of 32.1 percent compared to the N63.51 billion recorded in the previous week from 3.28 billion shares traded in 60,782 deals.

TOP PERFORMING SECTORS

The stock market report showed that the top three performing sectors for the week were the financial services industry, the consumer goods industry, and the services industry.

According to the data, the financial services industry (measured by volume) led the activity chart with 2.37 billion shares valued at N21.33 billion traded in 27,053 deals.

The sector contributed 81.85 percent and 44.39 percent to the total equity turnover volume and value respectively.

Also, the services industry followed with 177.34 million shares worth N3.19 billion in 3,829 deals.

The consumer goods Industry clinched the third spot, with a turnover of 104.38 million shares worth N3.3 billion in 5,587 deals.

TOP THREE EQUITIES

The NGX also said the top three equities were Sovereign Trust Insurance Plc, Jaiz Bank Plc, and Fidelity Bank Plc.

The three firms were said to have accounted for 1.497 billion shares worth N5.06 billion in 3,662 deals.

The exchange added that the companies contributed 51.59 percent and 10.54 percent to the total equity turnover volume and value, respectively.

TOP GAINERS OF THE WEEK

According to the bourse, Neimeth International Pharmaceuticals’ shares appreciated by 20.48 percent to N0.51 kobo. The company opened with a share price of N2.49 kobo per share and closed at the price of N3.

The share price of Linkage Assurance Plc increased by N0.17 kobo from N1.26 kobo to N1.43 kobo.

The Nigeria Flour Mills’ share appreciated by N7.25 kobo per share, after closing the week with N79.9 kobo.

More so, Academy Press’ share gained 9.92 percent to close the week at N2.88 kobo.

Similarly, Mutual Benefits Assurance closed the week at N0.67 kobo per share, up from N0.61 kobo per share — booking a gain of N0.06 kobo.

TOP LOSERS OF THE WEEK

At the end of the trading week, E-Tranzact’s share, according to the report, depreciated by N1.7 kobo to N4.8 kobo.

The NGX said Livestock Feeds Plc lost N1.79 kobo in its share price, which closed at N8.41 kobo per share, against the opening price of N10.2 kobo per share.

The share price of Redstar Express decreased to N4.82 kobo, after losing N0.98 kobo from the N5.8 kobo per share it started the week with.

In addition, the bourse said Universal Insurance’ share price declined from N0.6 to N0.52 kobo per share, losing N0.08 kobo.

The NGX also said Caveton Offshore Support reported a loss of 13 percent, after the value of its share fell to N2.61 kobo per share, from N3 in five days.