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Weekly Stock Update: Nigerian Exchange Group records decline w-o-w, down 3.10%

The Nigerian equities market closed bearish during the week as the All-Share index depreciated by 3.10% in the week ended 29th July 2022. This is following the 0.45% decline recorded in the previous week.

This is according to the information contained in the weekly stock market report, released by the Nigerian Exchange Group.

The benchmark index, ASI, depreciated by 3.10% from 51,979.92 points recorded as of the end of last week to close the week at 50,370.25 index points, while the market capitalization followed suit to close at N27.16 trillion.

This brings the month-to-date performance of the Nigerian stock market to 2.79% and a year-to-date gain of 17.92%.

Equity market performance

A total of 1.546 billion shares valued at N16.289 billion were traded during the week across 23,873 deals on the floor of the Exchange. This is higher than the 917.190 million units of shares valued at N14.803 billion that exchanged hands in the previous week in 19,513 deals.

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Similar to the previous week, the Financial Services Industry led the activity chart in terms of volume of shares traded with 1.192 million shares valued at N5.978 billion traded in 11,996 deals; thereby contributing 77.11% and 36.70% to the total equity turnover volume and value respectively.

Conglomerates Industry followed with 102.969 million shares worth N236.618 million in 858 deals while the Consumer Goods Industry stood in third place with a turnover of 102.937 million shares worth N2.616 billion in 3,167 deals.

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Trading in the top three equities by volume namely International Energy Insurance Plc, Transcorp Hotels Plc and Zenith Bank Plc accounted for 798.900 million shares worth N2.602 billion in 3,110 deals, contributing 51.69% and 15.98% to the total equity turnover volume and value respectively.

Similarly, only NGX Sovereign Bond Index finished high as it appreciated by 0.085 while all other indices finished lower and the NGX ASeM and NGX Growth indices closed flat.

TOP GAINERS

  • NAHCO up +9.09 % to close at N6.00
  • UBN up +7.84% to close at N5.50
  • UPDC up +4.41 % to close at N3.55
  • NGXGROUP up +4.28 % to close at N21.95
  • NPFMCRFBK up +4.17% to close at N1.75

TOP LOSERS

  • PZ down – 18.27% to close at N8.50
  • WEMABANK down – 17.54% to close at N3.29
  • IKEJAHOTEL down – 17.09% to close at N0.97
  • UPDC down – 16.81% to close at N0.99
  • COURTEVILLE down – 16.67 % to close at N0.40

Summary

Eleven (11) equities appreciated in price during the week, lower than nineteen (19) in the previous week. Fifty-three (53) equities depreciated in price higher than thirty-six (36) in the previous week, while ninety-two (92) equities remained unchanged lower than one hundred and one (101) equities recorded in the previous week.

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