• Monday, July 22, 2024
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TradeXop private equities exchange volume reaches N7.8bn


Nigerian equities traded on the private exchange TradeXop reached US$43.15 million (N7.8 billion), in its first week of operation, a statement of weekly trading activity released exclusively to BusinessDay showed.

The private equities platform, which was launched last Monday, recorded equities transactions worth N1.3 billion on its first day.

The turnover of N7.8 billion for the entire week is a sixfold increase from its starting turnover of N1.3 billion. The most active stock on the exchange as at the end of the week’s trading was Total Nigeria, with 21.6 million units of its shares exchanged in 111 contracts valued at N3.22 billion.

Guinness was the next most active stock on the exchange, with 7.01 million units of shares exchanged in 88 contracts valued at N1.16 billion.

Third on the list of most active stock traded was Nestle, with 788,000 units of shares exchanged in 19 contracts worth N784.5 million. At the close of the week’s trading, all stocks were in the red.

Total Nigeria lost 2.85 percent to close at N144.75 while Guinness Nigeria shed 21.23 percent to close at N130.21.

Other losers at the end of the week were Guaranty Trust Bank, which lost 18.43 percent; Access Bank lost 17.7 percent; Dangote Cement lost 16.5 percent; and Nestle lost 14 percent.

Total number of shares traded for the week stood at 172.37 million.