By Mathew Chima

The Nigerian Exchange (NGX) recorded a 14.8 percent rise in the value of shares traded in the week ended July 3, closing at N154.39 billion, after investors exchanged 3.82 billion shares in 258,567 deals, according to the bourse’s weekly market report.

Analysis of the bourse’s weekly market report by TheCable saw that the value of shares traded rose from the N134.49 billion traded for 2.32 billion shares in 249,328 deals the previous week.

Despite the uptick in activity, the bourse maintained a bearish outlook, as the all-share index (ASI) shed 2,808.68 basis points during the week, declining by 1.21 percent to close at 229,240.34 from 232,049.02 basis points.

Market capitalisation also dropped to N147.10 trillion at the close of trading, from N151.33 trillion recorded a week earlier.

TOP TRADING SECTORS

Analysis of the data showed that the financial services industry recorded the highest trading volume with 2.33 billion shares worth N54.61 billion exchanged in 108,978 deals.

The sector accounted for 60.99 percent of the total equity turnover volume and 35.37 percent of the total value traded.

The services industry followed with 509.47 million shares valued at N16.35 billion in 16,527 deals, while the consumer goods industry posted a turnover of N8.06 billion, representing 216.34 million shares, in 25,963 deals.

TOP THREE EQUITIES

Sterling Financial Holdings Company Plc, Access Holdings Plc, and Ikeja Hotel Plc emerged as the three most traded stocks by volume.

The NGX said the companies recorded a combined turnover of 1.41 billion shares valued at N28.37 billion in 12,898 deals, representing 36.78 percent of the total volume traded and 18.37 percent of the total value.

TOP GAINERS OF THE WEEK

The report said Airtel Africa Plc led the gainers’ chart after its share price rose by 21 percent from N4,358.80 to N5,274.

Regency Assurance Plc followed with a share price appreciation of 20.25 percent to N0.95 from N0.79.

UPDC Plc gained 12.31 percent, moving from N3.25 to close at N3.65.

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DAAR Communications Plc also recorded an uptick in its share value, which increased by 7.84 percent from N1.53 to N1.65.

Also, SUNU Assurances Nigeria Plc advanced by 7.50 percent to settle at N3.87.

TOP LOSERS OF THE WEEK

The bourse said International Energy Insurance Plc recorded the biggest decline after its share price fell 18.83 percent from N5.79 to N4.70.

MCNichols Plc shed 18.60 percent to close at N7, down from N8.60.

In addition, University Press Plc lost 17.54 percent, declining from N5.70 to N4.70.

While R T Briscoe Plc’s stock price dropped 13.98 percent to close at N10.15 from N11.80, UPDC Real Estate Investment Trust also fell from N10 to N8.70 — down by 13 percent.

Source: TheCable