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Financial companies lead stock market activities as selloff occurs in First Bank



Stock Market: Investors lose N546b in first half

The stock market ended the week in a decline after investors traded 1.419 billion shares worth N15.918 billion in 18,459 deals.

This week’s floor trading was below the 1.441 billion shares valued at N10.883 billion that was exchanged last week in 19,614 deals.

During the week, Financial Services Industry, Industrial Goods Industry and Consumer Goods Industry recorded the highest activities by volume. The Financial Services recorded 1.069 billion shares valued at N9.531 billion traded in 10,907 deals.

The Industrial Goods Industry reported 60.762 million shares worth N2.005 billion in 1,070 deals, while the Consumer Goods Industry recorded 57.023 million shares worth N1.029 billion in 2,831 deals.

A breakdown of performance by companies during the week showed financial companies topped activities by volume. Access Bank Plc, First Bank and Zenith Bank Plc accounted for a total 609.988 million shares.

The total shares traded by the three companies worth N6.593 billion in 4,870 deals, contributing 43.00% and 41.42% to the total equity turnover volume and value respectively.

READ ALSO: Nigeria’s stock market investors lose over N10 billion in post-public holiday trading

Top Five Gainers

Royal Exchange topped the gainers chart following a gain of N0.12kobo, the company’s stock price rose to N0.65kobo per share at the end of the week, closing above N0.53kobo.

Sovereign Trust Insurance came next as its stock price increased to N0.27kobo per share after rising by 17.39 percent from N0.23kobo.

Access Bank joined the list after gaining N0.85kobo, which increased its share price to N8.15kobo at the end of the week, against the N7.30kobo it began the week with.

Union Bank gained N0.50kobo as its stock price appreciated to N5.40kobo per share from N4.90kobo per share.

Conoil completed the list after its share price rose to N18.70kobo per share, from N17 per share after gaining N1.70kobo.

Top Five Decliners

The week ended with Linkage Assurance losing N0.16kobo from his opening stock price of N0.85kob per share. It ended the week with N0.69kobo per share.

Courtville stock price also depreciated during the week, as it dropped to N0.20kobo per share from N0.23kobo per share.

NEM Insurance also made the list after share price dropped to N1.81kobo per share against the N2.03 per share it opened with.

BOC Gases lost N1.36kobo in its share price, causing it to drop to N12.25kobo per share at the end of the week from the N13.61kobo per share it opened with.

SCOA stock price fell by N0.23kobo at the end of the week, with the share price dropping to N2.15kobo per share from N2.38kobo per share.

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