With a loss of 2.9% at the close of last week's trading on the stocks market of the Nigerian Exchange Limited (NGX), the Insurance index led the losers' chart, helped by selling pressure in Cornerstone insurance (a loss of 11.4%) and CHIPLC (a loss of 11.3%).
The industrial products index fell 0.5% last week, following the sector on the loser's chart. Price depreciation in CAP (-2.2%) was the cause of the sector's downfall. Losses in the shares of Eterna Plc (-3.4%) were followed by a decrease of 0.1% in the oil and gas index.
A rise in Zenith Bank (+7.4%), Ecobank TransNational Incorporated (+6.7%), PZ Cussons (+14.3%), and Cadbury (+13%), on the other hand, increased the banking and consumer goods sectors by 5.6% and 2.2%, respectively.
44,189 transactions involving 2.6 billion shares valued of N45.5 billion were made by investors on the exchange floor last week. However, the number of shares traded was more than the 2.5 billion units worth N32.8 billion that were transacted in 40,736 transactions on September 1, 2023.
With 1.6 billion shares worth N20.9 billion moved in 18,686 deals, the financial services sector dominated the activity chart in terms of volume, accounting for 60% of the overall stock turnover.
The oil and gas sector followed with 385.5 million shares trading for N4.7 billion in 4,579 transactions. Consumer goods ranked third with a turnover of 221.6 million shares worth N12.7 billion in 8,919 transactions.
Trading in the top three equities namely Oando Plc, Fidelity Bank Plc and United Bank for Africa Plc (measured by volume) accounted for 732.3 million shares worth N7.1 billion in 7,020 deals, contributing 27 per cent to the total turnover.