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Nigeria’s Stock Market Ends Week Negatively As BUA Foods Tops Gainers’ Chart



Nigerian Stocks Continues To Experience Sharp Declines As Investors Take Profit

The Nigerian Stock Exchange ended the week on a negative note as the value of shares traded last week reduced compared to the previous week.

The value of shares traded last week dipped to N59.014 billion after investors paid for 2.027 billion shares in 15,750 deals the previous week.

Naija News reports that this is as shareholders exchanged 1.600 billion shares worth N32.716 billion in 22,607 deals.

Equity Market Performance

Transcorp, BUA Foods Plc, and Jaiz Bank Plc were the top three equities based on volume, accounting for 48.49% and 50.82 % of the total equity turnover by volume and value respectively.

Investors traded 775.685 million shares worth N16.625 billion in 2,644 deals across the three companies during trading activities last week.

Top-performing Sectors

The three top-performing sectors on the floor of the Exchange last week were the Financial Services Industry, the Conglomerates Industry, and Consumer Goods Industry.

According to the market data, the Financial Services Industry contributed 45.71% and 19.92% of the total equity turnover in volume and value last week.

In the Financial industry, investors traded 731.264 million shares valued at N6.517 billion in 10,822 deals.

Conglomerate Industry followed with 403.646 million shares worth N452.909 billion traded in 1,537 deals.

The Consumer Goods Industry reported that investors exchanged 314.768 million shares worth N17.759 billion in 4,101 deals during the period.

Top Gainers

BUA Foods led the gainers’ chart as its share price rose by N12.80kobo to jump from N53.20kobo per share to N60 per share.

Coming second on the chart is Transcorp as it gained N0.16kobo to move from N0.98 kobo to N1.14kobo per share.

Jaiz Bank’s share price increased by 12.25% and moved from N0.59 kobo to N0.68kobo per share.

Fidson gained N0.90kobo to increase its share price from N6.60kobo to N7.50kobo per share.

Academy Press share price was up by 10 percent to close at N0.66kobo compared to N0.60kobo reported the previous week.

Top Losers

Sunu Assurances led the loser chart as its share price went down by 16.22 percent to settle at N0.31kobo from N0.37kobo per share.

Mutual Benefit share price dropped from N0.31kobo to N0.27kobo after losing 12.90 percent at the close of the week, while Berger Paints lost N0.85kobo to end the week with N7.70kobo compared to N8.55kobo reported a week earlier.

NNFM share price fell from N7.25 kobo to N6.55kobo after shedding N0.70kobo from its opening price as Custodian Investment lost N0.75kobo to close at N7.15kobo, below the opening price of N7.90kobo per share.