By Dipo Olowookere
The local stock market succumbed to profit-taking last week, declining by 0.15 per cent to leave the All-Share Index (ASI) at 96,433.53 points and the market capitalisation at N55.394 trillion.
Business Post reports that the Nigerian Exchange (NGX) Limited was under selling pressure in the five-ay trading week, as all other indices finished lower apart from the energy index, which grew by 1.52 per cent due to bargain-hunting in Oando and others, while the ASeM and sovereign bond indices closed flat.
In the week, investors exchanged 2.141 billion equities valued at N51.217 billion in 55,603 deals versus the 2.821 billion equities worth N53.048 billion traded in 50,488 deals a week earlier.
The financial services industry led the activity chart with 1.229 billion stocks valued at N19.976 billion in 20,701 deals, contributing 57.40 per cent and 39.00 per cent to the total trading volume and value, respectively.
The energy counter followed with 262.484 million equities worth N17.996 billion in 14,275 deals, and the services sector traded 155.587 million shares for N532.941 million in 3,558 deals.
Access Holdings, Oando and Zenith Bank were the most active with 517.336 million shares worth N24.454 billion in 15,502 deals, contributing 24.16 per cent and 47.75 per cent to the total trading volume and value, respectively.
RT Briscoe topped the losers’ group with 27.61 per cent loss to trade at N2.57, FTN Cocoa shed 18.38 per cent to close at N1.51, Omatek fell by 18.18 per cent to 72 Kobo, The Initiates declined by 13.18 per cent to N1.91, and Cornerstone Insurance dropped 12.59 per cent to N2.36.
On the flip side, Industrial and Medical Gases topped the gainers’ chart after growing by 32.58 per cent to N35.00, Berger Paints expanded by 31.12 per cent to N18.75, eTranzact gained 20.59 per cent to settle at N6.15, UAC Nigeria jumped by 19.77 per cent to N20.90, and C&I Leasing rose by 18.57 per cent to N4.15.
Analysis showed that 36 equities appreciated during the week versus 56 equities in the previous week, 46 stocks depreciated compared with 26 stocks a week earlier, and 69 shares closed flat, in contrast to 69 shares in the preceding week.