Nigeria’s stock investors gained N195 billion last week despite the drop in activity level at the Nigerian Exchange Limited (NGX).

Investors traded 705.636 million shares worth N12.850 billion in 22,124 deals during the week under review, in contrast to a total of 1.546 billion shares valued at N16.289 billion that exchanged hands in 23,873 deals in the previous week.

Breaking down key sectors, the Financial Services Industry led the activity chart with 442.525 million shares valued at N4.345 billion traded in 9,995 deals. Therefore, contributing 62.71% and 33.81% to the total equity turnover volume and value, respectively.

The Consumer Goods Industry followed with 82.126 million shares worth N2.176 billion in 3,875 deals. In third place was the Conglomerates Industry, with a turnover of 51.083 million shares worth N242.084 million in 694 deals.

Guaranty Trust Holding Company Plc, Zenith Bank Plc and FBN Holdings Plc were the three most traded equities last week. The three accounted for a combined 173.852 million shares worth N3.073 billion that were traded in 4,324 deals during the week. The three contributed 24.64% and 23.91% to the total equity turnover volume and value, respectively.

The NGX All-Share Index appreciated by 0.70%, or 352.08 index points from 50,370.25 index points it closed in the previous week to 50,722.33 index points last week.

The market capitalisation gained N195 billion to N27.358 trillion last week, up from N27.358 trillion it settled in the previous week.

Similarly, all other indices finished higher with the exception of The NGX-Main Board, NGX NGX Insurance, NGX Industrial Goods and NGX Sovereign Bond Indices which depreciated by 1.16%, 0.37%, 5.76% and 0.07% while, The NGX ASeM index closed flat.

Forty- one equities appreciated in price during the week, higher than eleven in the previous week. Twenty-two equities depreciated in price lower than fifty-three in the previous week, while ninety three equities remained unchanged higher than ninety-two equities recorded in the previous week.

The year-to-date gain tick slightly higher to 18.74%. See other details below.

Stocks of Guaranty Trust Holding Company Plc (GTCo Plc), Zenith Bank, Access Bank and other leading financial institutions were the most traded on Monday at the Nigerian Exchange Limited (NGX).

Investors transacted 176,053,708 shares worth N2.271 trillion in 4,965 deals during the trading hours of Monday. GTCO was the most traded stock with 21,371,040 shares estimated at N426,794,706.30. This was followed by Zenith Bank’s 20,445,680 shares valued at N429,282,785.05.

Analysing each sector, the banking sector gained 19 basis points (bps) on the back of 9.30% gain in Unity Bank, 1.45% appreciationg of Zenith Bank and 0.30% improvement in Wema Bank. Sterling Bank and Fidelity Bank shed 3.23% and 1.89%, respectively.

The consumer goods sector lost 13bps as stock of Intbrew and Maybaker declined by 6.54% and 6.42%, respectively. However, stocks of Champion, Unilever and Honey Flour closed in the green.

Industrial sector shed 418bps on 9.96% decline in the value of Bua Cement while the oil and gas sector closed flat.

NGX All-Share index extended its decline by 0.83% to 49,950.32 index points, down from 50,370.25 index points it closed on Friday. The market value of all listed equities also declined to N26.936 trillion, respresenting a decline of N226 billion from N27.163 trillion it settled on Friday.

The Exchange year to date return moderated from 17.92% on Friday to 16.93%. See other details below.

Top Gainers 

Top Losers

Top Trades

The Board of Trustees (BoT) of the Investors’ Protection Fund (IPF) have assured investors that it remains committed to enhancing investors’ protection in the Nigerian capital market (NCM).

In a statement sent to the investing community, the IPF noted that it has approved an increase in the maximum compensation sum to investors who have suffered pecuniary losses from N400,000 to N500,000.

The statement said, “IPF at its meeting of 18 November 2021 approved an increase in the maximum compensation sum to investors who have suffered pecuniary losses from Four Hundred Thousand Naira (?400,000.00) to Five hundred Thousand Naira (?500,000.00) only.

The BoT reached this decision after due consultation, assessment of the limited resources of the IPF and the volume of claims pending against the IPF as well as the prevailing circumstances in the capital market in determining the increase in the maximum amount of compensation payable”.

According to the IPF, this is in accordance with Rule 26.16 (a) & (c): Amount of Compensation, Rulebook of The Exchange, 2015 (Investors’ Protection Fund Rules) as amended which provides thus: “The maximum compensation payable to an investor who has suffered a loss shall be an amount that is determined by the Board from a written policy from time to time; and where the loss is less than the maximum amount fixed by the Board at any given time, the investor may be paid the full amount of the loss, less any amount or value of all monies or other benefits received or receivable by him from a source other than the Fund in reduction of the loss.

Notwithstanding the above, the amount of compensation may be reviewed by the Board on a biennial basis or as otherwise agreed by the Board as the need arises from time to time. In determining the maximum amount of compensation payable, the Board shall take into account circumstances prevailing in the capital market”.

It thereafter noted that the increase which took effect from 18 November 2021 does not apply to claims made to the IPF before the approval of the increase while adding that it remains committed to enhancing investor protection.