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UBA Among Highest Traded Stocks Last Weekend

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July 03, (THEWILL) – United Bank for Africa (UBA) Plc was among the largest traded volumes on Friday (July 1) as investors scramble for the stock of Africa’s Global bank to round off the week’s transactions for the month of June.

Data from the Nigerian Exchange (NGX) showed that UBA joined its peer, Guaranty Trust Holdings to record the highest volume of 22.2 million and 23.5 million traded shares respectively. Others were Sterling Bank (7.41 million) and Oando (7.33 million), respectively.

The data also revealed that UBA’s 22.2 million shares occurred from 211 trades as market capitalization stood at N253.07 billion.

The bank’s FY 2021, Q1 2022 impressive results and its consistent dividend history endear the Tier-1 bank to profit hunters who are expecting a good H1 performance result in a couple of weeks.

The NGX Weekly Report showed that a total turnover of 1.348 billion shares worth N24.487 billion in 22,155 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 1.121 billion shares valued at N13.703 billion that exchanged hands in the previous week in 22,350 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.009 billion shares valued at N 6.796 billion traded in 11,352 deals; thus contributing 74.87% and 27.75% to the total equity turnover volume and value respectively. The Conglomerates

Industry followed with 79,616 million shares worth N144.549 million in 689 deals.

The third place was The Oil and Gas Industry, with a turnover of 72.996 million shares worth N1.862 billion in 1,799 deals.

Trading in the top three equities namely Mutual Benefits Assurance Plc, Living Trust Mortgage Bank Plc and Guaranty Trust Holding Company Plc (measured by volume) accounted for 484.839 million shares worth N 2.414 billion in 2,410 deals, contributing 35.97 per cent and 9.86 per cent to the total equity turnover volume and value respectively.

Thirty-four equities appreciated in price during the week, higher than 16 equities in the previous week. Twenty-nine equities depreciated in price lower than 56 equities in the previous week, while ninety-three 93 equities remained unchanged higher than 84 equities recorded in the previous week.