Insurance Index Declines by 2.9% as Equities Attract N45.5bn in Investor Capital

Last week, the industrial products index fell by 0.5% after the sector fell on the losers chart. Price depreciation in CAP (-2.2%) was the major cause of the decline witnessed by the sector.

Eterna Plc share loss (-3.4%) which was followed by a decline of 0.1% in the oil and gas index.

Zenith Bank saw a rise of (+7.4%), Ecobank TransNational Incorporated rose by (+6.7%), PZ Cussons rose by (+14.3%) and Cadbury increased by (+13%). While the banking and consumer goods sectors increased by 5.6% and 2.2% respectively.

Last week, 44,189 transactions consisting of 2.6 billion shares valued at N45.5 billion were made by different investors on the exchange floor.

While 1.6 billion shares with a total worth of N20.9 billion brought 18,686 deals. On the other hand, the financial sector led the activity chart in terms of volume which accounts for 60% of the total stock turnover.

The oil and gas company took second place with 385.5 million shares trading for N4.7 billion in 4,579 transactions. 

Consumer goods took the third place with a turnover of 221.6 million shares worth N12.7 billion in 8,919 transactions.

Also, the top three stocks (Oando Plc, Fidelity Bank Plc, and United Bank for Africa Plc) contributed 27% of the overall turnover with 732.3 million shares which are worth N7.1 billion in 7,020 deals.

When compared to the previous week, trading saw a total of 9,775 units worth N1.9 million were traded in 79 deals, and 5.8 million units worth N65.9 million were traded in 101 deals. However, the All-Share Index and market capital rose by 0.9% to finish the week at 68,143.33 and N37.295 trillion respectively due to bargains of shares of Zenith Bank, Bua Foods, Dangote Cement, Fidelity Bank, and Dangote Sugar Refinery. This brought the Month-To-Date (MTD) and Year-To-Date (YTD) gains to +2.4% and +33.

The NGX ASeM Index finished flat, while other indexes finished higher except the NGX Industrial Goods, NGX Growth, NGX Oil and Gas, NGX Insurance, and NGX Sovereign Bond indices which declined 0.49%, 2.28%, 0.12%, 2.94%, and 0.46%, respectively.

This week, a total of 68 stocks were steady which was lesser than the 72 reported the week before. A total of 52 stocks gained during the week which was lesser than the 55 stocks that gained in the week before while 35 stocks lost.