Investors trade 1.263bn shares at N10.76bn on NGX Stories
By Kayode Tokede
A turnover of 1.263 billion shares worth N10.759 billion in 19,975 deals were traded last week by investors on the floor of the NGX Exchange.
This is in contrast to a total of 887.037 million shares valued at N9.193 billion that exchanged hands prior week’s 17,837 deals.
The Financial Services Industry (measured by volume) led the activity chart with 853.125 million shares valued at N6.754 billion traded in 11,127 deals; thus contributing 67.56 per cent and 62.78 per cent to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 103.226 million shares worth N704.563 million in 954 deals. The third place was Oil and Gas Industry, with a turnover of 89.472 million shares worth N353.533 million in 1,479 deals.
Trading in the top three equities namely Fidelity Bank Plc, FBN Holdings Plc and Access Bank Plc (measured by volume) accounted for 390.775 million shares worth N2.021 billion in 3,241 deals, contributing 30.94 per cent and 18.78 per cent to the total equity turnover volume and value respectively.
A total of 671,160 units of ETPs valued at N2.507 billion were traded last week in 76 deals compared with a total of 361,254 units valued at N1.909 billion transacted in prior’s week 29 deals.
Also, a total of 60,714 units of Bonds valued at N73.497 million were traded last week in 17 deals compared with a total of 44,303 units valued at N55.333 million transacted last week in 13 deals.
The NGX All-Share Index and Market capitalization depreciated by 0.15 per cent and 0.12 per cent to close the week at 38,808.01basis points and N20.310 trillion respectively.
As a result, the Year-Till-Date (YTD) loss rose to -4.2per cent.
Notably, profit-taking in large-cap stocks; Stanbic IBTC Holdings Plc (-2.3 per cent), MTN Nigeria Plc (-0.9 per cent), and Zenith Bank Plc (-0.5per cent) drove the weekly loss.
Sectoral performance was broadly negative, as the Industrial Goods (+0.9 per cent) index emerged as the week’s sole gainer. The Insurance (-4.2 per cent) index led the losers’ chart, followed by Banking (-1.5 per cent), Consumer Goods (-0.6 per cent) and Oil and Gas (-0.3 per cent) indices.
Analysts at Cordros capital stated that, “With the Q1-2021 earnings season on the horizon, we believe investors will be looking for clues on how corporate earnings will evolve in 2021, given the expected improvement in macroeconomic conditions.
“However, we expect the lull in the market to persist as investors remain perturbed by the rising yields in the FI market. Notwithstanding, we advise investors to take positions in only fundamentally justified stocks as the weak macro story remains a significant headwind for corporate earnings.”
