…Courteville shares on full suspension ahead of delisting
In the trading week ended Friday October 20, Nigeria’s equities market decreased by 0.42 percent.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation depreciated by 0.42percent to close the review trading week at 66,915.41 points and N36.764 trillion respectively.
All other indices finished lower with the exception of NGX CG, NGX Premium, NGX Banking, NGX AFR Bank Value, NGX AFR Div. Yield, NGX MERI Value and NGX Sovereign Bond which appreciated by 0.47percent, 0.54percent, 3.52percent, 1.82percent, 3.24percent, 2.99percent and 3.08percent respectively while the NGX ASeM index closed flat.
Trading License Holders and the investing public were notified that trading in the shares of Courteville Business Solution Plc (the Company) was suspended on Tuesday October 17, 2023.
The suspension was necessary to prevent trading in the shares of the Company in preparation for the delisting of the securities of the Company in line with the approval obtained from Nigerian Exchange Limited.
Going into a new week, analysts expect more mixed sessions, as investors tilt more towards fundamentally sound stocks as investors expect third quarter (Q3) numbers to filter into the market.
In the review trading week, 28 equities appreciated in price lower than 38 equities in the preceding week. Forty-six equities depreciated in price, higher than 33 in the preceding week, while 83 equities remained unchanged, lower than 86 recorded in the preceding week.
The market recorded total turnover of 1.496 billion shares worth N24.284 billion in 29,298 deals, in contrast to a total of 1.470 billion shares valued at N24.431 billion that exchanged hands preceding week in 29,683 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.047 billion shares valued at N12.709 billion traded in 13,667 deals; thus contributing 69.99percent and 52.34percent to the total equity turnover volume and value respectively.
The ICT Industry followed with 94.997 million shares worth N1.445 billion in 1,982 deals; and the Conglomerates Industry, with a turnover of 80.655 million shares worth N526.409 million in 1,459 deals.
Trading in top three equities namely United Bank for Africa Plc, Fidelity Bank Plc and Access Holdings Plc (measured by volume) accounted for 447.125 million shares worth N6.488 billion in 4,913 deals, contributing 29.88percent and 26.72percent to the total equity turnover volume and value respectively.