BY BAMIDELE FAMOOFO
A total turnover of 28.736 billion shares worth N209.060 billion in 23,688 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 1.840 billion shares valued at N27.286 billion that exchanged hands during the preceding week in 27,273 deals.
The Financial Services Industry (measured by volume) led the activity chart with 28.048 billion shares valued at N198.017 billion traded in 10,416 deals; thus contributing 97.61 percent and 94.72 percent to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 434.845 million shares worth 1.339 billion in 1,225 deals. The third place was The Consumer Goods Industry, with a turnover of 74.111 million shares worth N2.853 billion in 3,835 deals. Trading in the top three equities namely Union Bank Of Nigeria Plc, Transnational Corporation Plc and FBN Holdings Plc (measured by volume) accounted for 27.841 million shares worth N193.488 billion in 1,872 deals, contributing 96.89 percent and 92.55 percent to the total equity turnover volume and value respectively.
The NGX All-Share Index and Market Capitalization depreciated by 2.18 percent to close the week at 52,908.24 and N28.523 trillion respectively. Similarly, all other indices finished lower with the exception of the NGX-Insurance, NGX AFr Div Yield and NGX Growth index which appreciated at 0.83 percent, 0.58 percent and 0.74 percent while, the NGX Asem index and NGX Sovereign bond closed flat.
A total of 43,648 units valued at N987, 351.25 were traded in the review week in 24 deals compared with a total of 26,718 units valued at N2.381 million transacted in the previous week in 26 deals.
A total of 20,402 units valued at N21.440 million were traded in the week in 10 deals compared with a total of 157,574 units valued at N164.735 million transacted the penultimate week in 22 deals.
Thirty-six (36) equities appreciated in price during the week, higher than twenty-three (23) equities in the previous week. Forty-five (45) equities depreciated in price, lower than fifty four (54) equities in the previous week, while seventy-five (75) equities remained unchanged lower than seventy-nine (79) equities recorded in the previous week.
Also in the review week, the management of the Nigerian Exchange Limited announced that the shares of Multiverse Mining & Exploration Plc have been placed on suspension.
“Further to our market bulletin of 17 May 2022 with reference number: NGXREG/LRD/MB30/22/05/17 regarding the proposed share capital reconstruction of Multiverse Mining & Exploration Plc, (Multiverse or the Company), Trading License Holders are hereby notified that trading in the shares of Multiverse was suspended on Thursday, 2 June 2022,” NGX disclosed in a circular to market stakeholders.
The suspension was effected pursuant to the proposed share reconstruction which will result in the cancellation of nine existing ordinary shares out of every 10 ordinary shares held by existing Shareholders.
The total number of issued ordinary shares post the reconstruction exercise will be 426,193,868 (Four Hundred and Twenty- Six Million, One Hundred and Ninety -Three Thousand, Eight Hundred and Sixty-Eight) ordinary shares while 3,835,744,818 (Three Billion, Eight Hundred and Thirty-Five Million, Seven Hundred and Forty-Four Thousand, Eight Hundred and Eighteen) ordinary shares would be cancelled. The suspension is necessary to enable Multiverse to reconcile its share register towards implementation of the proposed share reconstruction.
