IN the just concluded week, action was taken on the stock of Wema Bank Plc, as the Nigerian Exchange notified the Trading License Holders and the investing public of its decision in preparation of the corporate action of the bank.
The bank’s share was placed on full suspension on Tuesday, 8 March 2022, in line with the normal proceeding to prevent trading in the shares of the Bank in preparation for the proposed bonus to shareholders.
The share reconstruction of the Bank’s issued and fully paid shares of 38,574,466,082 ordinary shares of 50 Kobo each will translate to 12,858,155,360 ordinary shares of 50 Kobo each in the ratio of one (1) for every three (3) shares held by shareholders.
However, a total turnover of 2.798 billion shares worth N23.859 billion in 22,970 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.374 billion shares valued at N23.786 billion that exchanged hands last week in 28,809 deals.
The Financial Services Industry (measured by volume) led the activity chart with 2.398 billion shares valued at N14.030 billion traded in 11,900 deals; thus contributing 85.69 per cent and 58.80 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 73.381 million shares worth N305.944 million in 996 deals. The third place was
The Consumer Goods Industry, with a turnover of 60.832 million shares worth N3.087 billion in 2,707 deals.
Trading in the top three equities namely FCMB Group Plc, Unity Bank Plc, and FBN Holdings Plc (measured by volume) accounted for 1.633 billion shares worth N5.486 billion in 1,395 deals, contributing 58.36 per cent and 22.99 per cent to the total equity turnover volume and value respectively.
On the ETF, a total of 17,399 units valued at N933,567 were traded this week in 24 deals compared with a total of 1.586 units valued at N24.867 million transacted last week in 22 deals.
On the bond a total of 10,306 units valued at N10.780 billion were traded this week in 12 deals compared with a total of 136,800 units valued at N149.010 million transacted last week in 23 deals.
The NGX All-Share Index and Market Capitalization appreciated by 0.36 per cent to close the week at 47,437.48 and N25.566 trillion respectively.
Similarly, all other indices finished higher with the exception of NGX Consumer goods, NGX Oil/Gas and NGX Industrial Goods, which depreciated by 0.52 per cent, 2.22 per cent and 0.13 per cent respectively while NGX AseM, NGX Growth and NGX Sovereign bond indices closed flat.
Thirty-six equities appreciated in price during the week, higher than Twenty-two equities in the previous week. Thirty-three equities depreciated in price, lower than Forty-nine equities in the previous week, while Eighty-seven equities remained unchanged higher than Eighty five equities recorded in the previous week NGX AseM, NGX Growth and NGX Sovereign bond indices closed flat.
