The stock rout in the Nigerian equities market continued last week as investors lost another N58 billion after losing N172 billion in the previous week.
During the week, investors exchanged 1.289 billion shares worth N13.546 billion in 22,118 deals, against a total of 1.176 billion shares valued at N16.601 billion that exchanged hands in 21,076 transactions in the previous week.
The Financial Services Industry led the activity chart with 851.598 million shares valued at N7.516 billion traded in 11,930 deals, therefore contributing 66.07% and 55.49% to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 174.588 million shares worth N569.028 million in 1,095 deals. The third place was The ICT Industry, with a turnover of 77.571 million shares worth N2.249 billion in 1,458 deals.
Fidelity Bank Plc, Transnational Corporation Of Nigeria Plc, and Access Holdings Plc were the three most traded equities in the week under review, accounting for a combined 426.566 million shares worth N1.777 billion in 3,307 deals. The three contributed 33.10% and 13.12% to the total equity turnover volume and value, respectively.
The NGX All-Share Index depreciated by 0.23% or 121.37 index points from 46,964.23 index points filed in the previous week to 46,842.86 index points last week. Market capitalization also declined by 0.26% or N58 billion to close the week at N25.253 trillion.
Similarly, all other indices finished lower with the exception of NGX Premium, NGX Lotus II and NGX Sovereign bond indices which appreciated by 1.31%, 1.38% and 0.56% respectively. While NGX Asem and NGX Growth indices closed flat.
Twenty equities appreciated in price during the week, lower than Twenty-four equities in the previous week. Fifty equities depreciated in price, Higher than Forty-four equities in the previous week, while Eighty-six equities remained unchanged lower than Eighty-eight equities recorded in the previous week.
The Exchange year-to-date return moderated to 9.66%. See the details of top gainers and losers below.
NGX All-Share Index Depreciated by 0.22% as Investors Lose N64 Billion Last Week
The Nigerian Exchange Limited (NGX) shed 0.22% last week despite activity at the bourse increasing over the preceding week.
Investors transacted 3.021 billion shares worth N31.784 billion in 29,153 deals last week, against a total of 1.816 billion shares valued at N27.194 billion that exchanged hands in 36,286 deals in the previous week.
The Financial Services Industry led the activity chart with 2.244 billion shares valued at N12.399 billion traded in 10,817 deals. Therefore, contributing 74.30% and 39.01% to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 345.806 million shares worth N558.873 million in 1,676 deals. In third place was The Consumer Goods Industry, with a turnover of 149.009 million shares worth N2.750 billion in 5,632 deals.
FCMB Group Plc, Jaiz Bank Plc and Transnational Corporation Plc were the three most traded stocks in the week. The three equities accounted for a combined 1.698 billion shares worth N4.095 billion that were exchanged in 2,188 deals and contributed 56.21% and 12.88% to the total equity turnover volume and value, respectively.
The NGX All-Share Index depreciated by 0.22% to close the week at 52,979.96 index points, down from 53,098.46 index points posted in the previous week. The market value of all listed equities declined by N64 Billion from N28.626 trillion recorded in the previous week to N28.562 trillion last week. The year-t0-date return moderated to 24.03%.
Similarly, all other indices finished lower with the exception of NGX-Main Board, NGX Insurance, NGX MERI Growth and NGX Oil/Gas indices which appreciated at 1.60%, 3.63%, 0.14% and 0.30% while, NGX Asem index and NGX Sovereign bond closed flat.
Thirty-seven equities appreciated in price during the week, lower than fifty equities in the previous week. Forty-two equities depreciated in price, higher than thirty-two equities in the previous week, while seventy-seven equities remained unchanged higher than seventy-four equities recorded in the previous week.
NGX Charges Companies on Full Disclosure of Business Impacts
The Nigeria Exchange Limited (NGX) says organisations must present full reports about their environmental and social impacts.
Speaking at a webinar session organised by the Corporate Secretaries International Association on how businesses and organisations could carry a “full 360 approach to market disclosure, the Chief Executive Officer, NGX Regulation Limited, Ms Tinuade Awe said “Our world today is facing major sustainability challenges including inequality, overpopulation, climate change, and several environmental risks.
Discussing the importance of measuring and reporting sustainability performance for companies she said: “By recognising that capital allocation makes a real impact on the environment and society at large, investors can reap sustainable long-term investment decisions through investments in ESG-themed investments.
“Adopting an ESG-lens in our approach to investment is critical for investors to identify businesses that implement a forward-looking approach to managing long-term risks and leveraging opportunities that ensure long-term economic, environmental, and social responsibility,” she said.
Awe encouraged companies to adopt best practices in their disclosure on ESG issues by ensuring that their sustainability reports capture relevant sustainability disclosures that are relevant to their stakeholders.
“Historically, sustainability reports address a company’s approach to managing the triple bottom line of people, profit and planet. However, disclosures in sustainability reports have evolved over the years to address the needs of a wide array of stakeholders, she said in respect to critical disclosures that should be included in a sustainability report.
“In publishing their sustainability reports, companies should consider a number of relevant disclosures including materiality, sustainability risks, and opportunities as well as a detailed explanation of how companies are addressing the risks and levering the opportunities.
She added that a sustainability report should include disclosures on how sustainability is governed by the board, executive management, and designated officers responsible for managing the organisation’s impact footprint.
The programme was themed, ‘Unlocking ESG for boards from strategy to disclosure’.
Stock Activity Rises as Investors Gained N298 Billion
The Nigerian Exchange Limited (NGX) rebounded from its three days of consecutive declines to close in the green on Thursday despite only 21 stocks recording gains, against 29 stocks that dipped.
Activity in the Nigerian stock market rose on Thursday as investors exchanged 274,556,626 stocks valued at N8.447 billion in 5,184 deals, against 611,973,850 shares worth N 7.426 billion that exchanged hands in 5,948 transactions on Wednesday.
Transcorp was the most traded equity, accounting for 48,381,202 shares valued at N61,433,118.18. MTN Nigeria followed with 20,601,952 shares worth N5,494,941,075.80.
Breaking down each sector, the banking sector shed 76 basis points as stocks of Fidelity Bank, Ecobank, Union Bank of Nigeria, Unity Bank and Zenith Bank closed in the red. Sterling Bank and United Bank for Africa were some of the gainers in the sector.
Similarly, the consumer goods index dropped 23 basis points on the back of a 4.29% decline in Champion, 1.84% loss in Intbrew and a 1.33% decline in Unilever. PZ closed with a 0.37% gain.
The decline in value of Conoil, Ardova and Oando dragged oil and gas index down by 79bps. However, the industrial index, the only sector that closed in the green, posted a 14bps gain as Wapco gained 1.59%.
The market capitalisation of all listed stocks appreciated by N298 billion from N28.423 trillion it settled on Wednesday to N28.721 trillion on Thursday. While NGX All-Share Index appreciated by 1.05% to 53,275.49 index points, up from 52,721.34 index points recorded on Wednesday.
The Exchange year-to-date inched slightly higher to 24.72%. See the details of top gainers and losers below.
|TRANSCOHOT||N 5.36||N 5.89||0.53||9.89 %|
|BETAGLAS||N 57.00||N 62.55||5.55||9.74 %|
|MCNICHOLS||N 1.77||N 1.94||0.17||9.60 %|
|VERITASKAP||N 0.21||N 0.23||0.02||9.52 %|
|MULTIVERSE||N 0.22||N 0.24||0.02||9.09 %|
|CONOIL||N 31.50||N 28.35||-3.15||-10.00 %|
|ETERNA||N 7.30||N 6.60||-0.70||-9.59 %|
|PRESTIGE||N 0.44||N 0.40||-0.04||-9.09 %|
|CHAMS||N 0.24||N 0.22||-0.02||-8.33 %|
|ROYALEX||N 1.36||N 1.26||-0.10||-7.35 %|
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