Stocks with Unusual Transactions Volume

Stocks with Unusual Transactions Volume

‘Benjamin’ came to the market yesterday as Etransact International, Secure Electronic Technology Plc, and some listed companies recorded an out-of-ordinary trading volume that pushed their respective stock market prices to the rooftop.

The volume of shares transacted could provide insight into a particular development on a ticker, signaling potential upside or downside, according to stockbrokers that spoke with MarketForces Africa, saying investors can keep tabs on price movement.

According to data from the Nigerian Exchange, more than 5 million shares of Etransact were exchanged in the local bourse. The trade value of the shares was valued at N24.21 million.

The bargain hunting on the counter pushed the share price 10% upward to N4.84.  At the close of the trading session, Etransact valuation advanced to N44.5 billion over its 9.199 billion outstanding shares.

Meanwhile, no corporate disclosure suggests that the insiders ramped up the unusual volume.

Secure Technology Plc also recorded unusual trade volume that pushed its share price to 33 kobo, from 30 kobo. The company has about N1.86 billion market valuation spread over its 5,631 billion outstanding shares.

The company did not disclose insider buying as it recorded a 3.899 million trade volume in the stock market. According to data from the Nigerian Exchange, the transaction was valued at N1.28 million.

Stanbic IBTC’s share price declined to N45 after an unusual volume trade of 10.716 million was sold off on the floor of the Nigerian Exchange, reducing the price by 3.02%. The volume sold was priced at N482.22 million.

The unusual volume sold in the local bourse reduced Stanbic IBTC’s valuation to N583 billion on about 13 billion outstanding shares priced at N45. The financial services stock had crossed N600 billion mark before the profit-taking.

Dangote Sugar plc was a centre of attraction to value hunters that N405.36 million. A total of 19.303 million of the company shares were demanded by equities hunters in the local bourse, pushing its market price to N21. 

The company’s market valuation settled at N255 billion spread over its 12.146 billion shares outstanding.  

MarketForces Africa spotted that 51.803 million shares of NPF Microfinance Bank were exchanged at a total value of N93.245 million A day earlier, more than 100 million shares of the bank were traded in the local bourse. In spite of this large volume of transactions, its market price failed to swing left or right.

NPF Microfinance Bank Plc is worth N10.787 billion spread over its 5.992 billion outstanding shares priced at N1.80 kobo in the local bourse on Thursday. #Stocks with Unusual Transactions Volume

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