By Dipo Olowookere
It was an intense battle between the bulls and the bears on the floor of the Nigerian Exchange (NGX) Limited last, but the latter won after the key performance indicators ended in red.
Business Post reports that the All-Share Index (ASI) and the market capitalisation depreciated in the five-day trading week by 0.33 per cent and 0.31 per cent to 97,506.87 points and N59.107 trillion, respectively.
In the same vein, all other indices finished lower apart from the insurance, AFR Div Yield, Lotus II, industrial goods and the growth indices, which appreciated by 1.23 per cent, 0.84 per cent, 0.99 per cent, 0.62 per cent and 5.59 per cent, respectively, while the ASeM index closed flat.
Data indicated that Customs Street had 32 price gainers in the period under review versus 52 in the previous week, 46 price losers versus 33 a week earlier, and 75 stocks closed flat compared with 68 stocks in the preceding trading week.
Sunu Assurances appreciated by 23.42 per cent to N3.90, Haldane McCall jumped by 21.57 per cent to N6.20, Sovereign Trust Insurance gained 15.87 per cent to sell for 73 Kobo, NASCON increased by 13.09 per cent to N32.40, and Neimeth leapt by 11.22 per cent to N2.18.
Conversely, Austin Laz lost 26.32 per cent to N1.96, John Holt shed 18.91 per cent to trade at N8.92, Lasaco Assurance slipped by 16.47 per cent to N2.13, Eterna tumbled by 16.13 per cent to N20.80, and Deap Capital dwindled by 10.17 per cent to N1.06.
It was observed that the bourse was under selling pressure in the week, with investors transacting 3.194 billion shares worth N54.850 billion in 45,112 deals versus the 1.952 billion shares valued at N35.864 billion exchanged in 48,553 deals in the previous week.
Financial equities led the activity chart with 1.509 billion units sold for N26.904 billion in 20,357 deals, contributing 47.25 per cent and 49.05 per cent to the total trading volume and value, respectively.
Construction/real estate shares followed with 839.945 million units worth N4.806 billion in 1,399 deals, and energy stocks traded 256.445 million units valued at N13.307 billion in 6,313 deals.
Haldane McCall, FBN Holdings and Japaul accounted for 1.587 billion shares worth N19.797 billion in 3,632 deals, contributing 49.69 per cent and 36.09 per cent to the total trading volume and value apiece.