Unlisted Securities Bleed as Investors Lose N20.3bn in One Week

By Dipo Olowookere

Investors comprising retail, high-net-worth, institutional and offshore bought and sold 2.5 billion shares worth N20.7 billion in 20,764 deals last week in contrast to the 2.8 billion stocks worth N23.9 billion transacted in 22,970 deals a week earlier.

According to the data from the Nigerian Exchange (NGX) Limited, financial stocks dominated the activity chart in the week, trading 1.8 billion units valued at N11.6 billion in 11,233 deals, accounting for 73.91 per cent and 55.96 per cent of the cumulative trading volume and value for the week.

ICT equities trailed with the sale of 349.9 million units worth N4.1 billion in 1,292 deals, while the conglomerates shares, which occupied the third spot, has sold 101.5 million units worth N548.7 million in 1,084 deals.

Business Post reports that FCMB, eTranzact and Fidelity Bank jointly traded 1.5 billion units valued at N5.1 billion in 1,006 deals, contributing 60.12 per cent and 24.52 per cent to the total trading volume and value respectively.

PZ Cussons closed as the best price riser in the week, appreciating by 17.01 per cent to N8.60, UAC Nigeria gained 14.55 per cent to close at N12.20, NPF Microfinance Bank appreciated by 10.00 per cent to N2.31, RT Briscoe rose by 9.59 per cent to 80 kobo, while Ecobank inflated by 8.18 per cent to N11.90.

On the flip side, Cornerstone Insurance ended the five-day trading week as the heaviest price decliner, losing 21.62 per cent to sell for 58 kobo.

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