Democracy Day holiday crashes Nigeria’s stock market as Airtel ends week as biggest loser

Trading activities on the floor of the Nigerian Stock Exchange (NSE) this week as total of 981.147 million shares valued at N10.384 billion exchanged hands in 15,001 deals.

This was below the 1.058 billion shares valued at N12.831 billion traded by investors in 17,854 deals last week.

This showed that the value of trade was down by N2.44 billion as the capital market operated for four days due to the country’s Democracy Day holiday of June 14.

In a statement released by the stock market on Sunday, it was understood that the Financial Services Industry, Consumer Goods, and Conglomerates Industry dominated trading activities during the period.

By measure of volume, the top three trading sectors are – Financial Services Industry, which recorded 695.803 million shares valued at N5.178 billion, and traded in 8,616 deals.

Next was Consumer Goods Industry with 75.879 million shares worth N1.227 billion in 2,263 deals, while Conglomerates Industry attracted 67,430 million shares worth N367.306 million in 612 deals.

In terms of company performance, Zenith Bank Plc, Sterling Bank Plc and Wema Bank were listed the top three equities by measure of volume.

The three commercial banks accounted for 265.649 million shares worth N2.450 billion in 2,742 deals, contributing 27.08 percent and 23.60 percent to the total equity turnover volume and value respectively.

Top five gainers

Berger Paints share price rose by N1 to jump from N6.70kobo to N7.70kobo per share.

Lasaco Assurance stock value was up by N0.14kobo as the share price ended the week with N1.50kobo compared to the opening price of N1.36kobo.

READ ALSO: NSE: Investors pocket N30bn as market capitalization rises by 0.13%

Champion Breweries closed the week with N1.98kobo per share after gaining N0.18kobo to move from its opening of N1.80kobo per share.

Morison’s stock price rose by 9.68 percent to move from N1.24kobo to end the week at N1.36kobo per share.

Red Star Express gained N0.25kobo during the week as its share price rose to N3.35kobo from N3.10kobo reported at the begging of the week.

Top five losers

UAC Nigeria topped the losers list following a loss of N1.20kobo. This reduced its stock value from N10.90 kobo to N9.70kobo at the end of trading.

Airtel Africa share price dropped to N753.30kobo at the end of the week after losing N83.70kobo from its opening share price of N837.

Abbey Mortgage Bank share price was down by N0.10kobo to end the week at N0.95kobo from N1.05 per share last week.

Consolidated Hallmark share value also fell during the week, losing 9.46 percent from its opening stock price of N0.74kobo to end trading at N0.67kobo per share.

Okomu Oil lost N11 to end the week at N105.50kobo, compared to N116.50kobo per share reported the previous week.

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