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Nigerian Exchange Limited

Banking Stocks Top Volumes as ASI Appreciates by 1.51% Week-on-Week

The All-Share Index appreciated by 1.51% in the week ending May 26th, 2023 as the Nigerian stock market ended the week in the green.

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The All-Share Index appreciated by 1.51% in the week ending May 26th, 2023 as the Nigerian stock market ended the week in the green.

This is in accordance with the data available on the Nigerian Exchange Group’s weekly stock market report.

The benchmark index, ASI, dropped from 52,187.93 points at the end of the previous week to 52,973.88 points this week, while the market capitalization was N28.845 trillion at the end of the week. As a result, the Nigerian stock market has had a positive month-to-date performance of 1.09% and a positive year-to-date gain of 3.36%.

The NGX Industrial Goods and NGX Growth indexes depreciated by 0.70% and 1.33%, respectively, while the NGX ASeM and NGX Sovereign Bond indices were flat. All other indices ended higher.

Investors traded 1.963 billion shares worth N33.899 billion in a total of 30,827 trades this week, compared to 3.029 billion shares worth N33.626 billion that changed hands in a total of 29,505 deals the previous week.

With 1.463 billion shares worth N18.028 billion moved in 15,593 deals, the Financial Services Industry dominated the activity chart in terms of volume, contributing 74.51% and 53.18%, respectively, to the overall stock turnover volume and value. The Conglomerates Industry came in second with 1,590 deals totaling 111.180 million shares for N371.360 million. With 4,641 transactions totaling 106.594 million shares worth N2.544 billion, the consumer goods industry came in third.

Trading volume in the top three stocks, United Bank for Africa Plc, Access Holdings Plc, and Zenith Bank Plc, totaled 800.611 million shares worth N11.751 billion in 7,351 deals, accounting for 40.78% and 34.66%, respectively, of the total equity turnover volume and value.

During the week, Sixty (60) equities appreciated in price during the week higher than forty-four (44) equities in the previous week. Twenty-one (21) equities depreciated in price lower than twenty-seven (27) in the previous week, while seventy-five (75) equities remained unchanged, lower than eighty-five (85) recorded in the previous week.

The Bond market saw a total of 12,837 units valued at N12.608 million traded during the week in 16 deals compared with a total of 126,110 units valued at N130.953 million transacted in previous week in 18 deals.

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Nigerian Exchange Limited

Nigerian Equity Market Loses N289bn Amid Persistent Sell-Offs

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Amidst sustained sell-offs, the Nigerian equity market experienced a significant downturn, losing a whopping N289 billion in market capitalization on Monday.

The All-Share Index, a barometer of the market performance, declined by 0.49%, leading to a year-to-date return reduction of 39.27%.

This downturn brought the market capitalization down to N58.88 trillion.

Despite a few gainers, including Ellah Lakes, Morison Industries Plc, and SUNU Assurance, which recorded gains of 10%, 9.93%, and 9.48% respectively, the market was largely dominated by losers.

Dangote Sugar, International Energy Insurance, and Jaiz Bank led the pack of losers with declines of 10.00%, 10.00%, and 9.92% respectively.

The volume and value drivers for the day were the stocks of the National Infrastructure Development Fund, Jaiz Bank, and MTN Nigeria.

Investors traded a total of 306,821,620 shares valued at N11.38 billion in 9,343 deals.

Market analysts at Meristem Research projected a subdued performance for the week, citing anticipation of a rate hike by the Monetary Policy Committee (MPC).

This expected hike could lead to higher rates at the Treasury Bills auction scheduled for Wednesday, potentially driving investors towards higher yields in the fixed-income market.

Consequently, there might be minimal liquidity in the local bourse space, with investors possibly engaging in profit-taking activities on stocks that have experienced significant gains.

The persistent bearish trend in the Nigerian equity market underscores the cautious sentiment among investors amidst prevailing economic uncertainties and policy changes.

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Nigerian Exchange Limited

Nigerian Stock Market Moderates Last Week as Investors Lose N247 Billion

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The Nigerian stock market known as the Nigerian Exchange Limited (NGX) moderated by N247 billion last week following weeks of positive close.

During the week, investors exchanged a total of 1.735 billion shares worth N48.755 billion in 45,237 deals, in contrast to a total of 1.773 billion shares valued at N52.867 billion that exchanged hands in 44,713 deals in the previous week.

A further breakdown shows the Financial Services Industry led the activity chart with 1.273 billion shares valued at N31.077 billion that were traded in 23,066 deals. Therefore, contributed 73.36% and 63.74% to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 123.237 million shares worth N1.772 billion in 3,205 deals.

The third place was the Consumer Goods Industry, with a turnover of 104.854 million shares worth
N5.292 billion in 6,166 deals.

United Bank for Africa Plc, FBN Holdings Plc and Access Holdings Plc were the three most traded equities and accounted for a combined 564.882 million shares worth N16.990 billion traded in 8,493 deals. The three contributed 32.56% and 34.85% to the total equity turnover volume and value respectively.

The NGX All-Share Index depreciated by 0.42% or 437.88 index points from 105,085.25 index points recorded in the previous week to 104,647.37 index points last week.

Market Capitalization also depreciated by N247 Billion to N59.169 trillion from N59.416 trillion in the previous week.

Similarly, all other indices finished lower with the exception of NGX Main Board, NGX CG, NGX Banking, NGX Pension, NGX Insurance, NGX ASeM, NGX AFR Bank Value, NGX MERI Growth, NGX Oil and Gas and NGX Industrial Goods which appreciated by 0.68%, 0.43%, 4.19%, 0.13%, 8.92%, 21.81%, 3.93%, 4.13%, 0.30%, and 0.57% respectively while the NGX Sovereign Bond index closed flat.

Fifty equities appreciated in price during the week lower than fifty-five equities in the previous week. Thirty-two equities depreciated in price higher than twenty-four in the previous week, while seventy-two equities remained unchanged, lower than seventy-five recorded in the previous week.

 

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Nigerian Exchange Limited

Nigerian Exchange Adds N74bn, Erases Three-Day Losses

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Following three consecutive days of bearish trading, the Nigerian Exchange Limited (NGX) rebounded on Thursday to register a gain of N74 billion, effectively erasing the previous losses.

The turnaround in market sentiment was a welcome relief for investors who had witnessed a downturn in the equity market.

The All-Share Index saw a notable climb of 0.13 percent to 104,387.47 points while market capitalization surged to N59.02 trillion.

This uptick in market performance propelled the bourse’s year-to-date return to 39.6 percent and highlighted the resilience of Nigeria’s capital market amidst challenging economic conditions.

Market activity saw a significant surge, with trading volume rising by 12.78 percent to 336.82 billion units and the value of transactions appreciating by 35.74 percent to N9.29 billion.

Total deals also saw an uptick, increasing by 6.57 percent to 8,790.

Despite recording more losers than gainers, certain stocks experienced notable gains, with companies like Juli Plc, Transcorp, International Energy Insurance, ETranzact, and Guinea Insurance witnessing substantial increases in their share prices.

Conversely, top decliners included DeapCap, Tourist, Computer Warehouse Group, Caverton, and Omatek.

The banking, insurance, and industrial goods sectors led the market gains, with each posting positive performances.

However, the consumer goods sector experienced a slight decline, while the oil and gas sector remained relatively flat.

Investors showed renewed confidence in the market, with United Bank for Africa emerging as the most traded security by volume, while Nestle led in traded value.

The market’s resurgence comes amidst notable developments, including PZ Cussons’ failed bid to delist from the Nigerian Exchange, impacting minority investors and prompting analysts to assess its potential implications on the company’s future strategies and shareholder value.

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