NGX weekly update: Equity market appreciates by 2.95%


By Philemon Adedeji

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalization appreciated by 2.95 per cent to close the week at 54,213.09 Index points and N29.528 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX Consumer Goods Index which depreciated by 0.42 per cent, while the NGX ASeM and NGX Sovereign Bond indices closed flat.

The breakdown of the market performance showed that total turnover of 3.789 billion shares worth N27.500 billion in 20,333 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 756.769 million shares valued at N13.653 billion that exchanged hands last week in 18,248 deals.

The Financial Services Industry (measured by volume) led the activity chart with 3.461 billion shares valued at N7.182 billion traded in 8,978 deals; thus contributing 91.35 per cent and 26.12 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 78.306 million shares worth N210.522 million in 746 deals. The third place was the Consumer Goods Industry, with a turnover of 54.009 million shares worth N1.923 billion in 3,405 deals.

Trading in the top three equities namely Universal Insurance Plc, Guaranty Trust Holding Company Plc and Zenith Bank Plc. (measured by volume) accounted for 3.048 billion shares worth N4.653 billion in 2,674 deals, contributing 80.45 per cent and 16.92 per cent to the total equity turnover volume and value respectively.

In terms of bond, a total of 31,683 units valued at N32.251 million were traded this week in 35 deals compared with a total of 29,711 units valued at N29.901 million transacted last week in 27 deals.

On the gainers table, International Energy Insurance led the gainers with 57.14 per cent to close at N0.99 per share, closely followed by Nigerian Flour Mill which rose significantly by 44.44 per cent increased to close at N9.75 per share, while Geregu Power Plc grew by 36.88 per cent increased to close at N216 per share.

MRS Oil Nigeria Plc which recorded as the last fourth gainer appreciated by 20.94 per cent increased to close at N19.35 per share.

John Holt which recorded as the last fourth gainer went up by 20.91 per cent to close at N1.33 per share.

On the losers table, Chams Holding Company Plc emerged as the overall loser at the close of the week which lost 16.67 per cent to close at N0.25 per share, Guinness Nigeria Plc, Ikeja Hotel and NCR Nigeria Plc which followed shed 10.00 per cent each to close at N63.00, N0.99 and N3.24 per share respectively.

Academy Press which recorded as the last fifth loser dipped by 9.85 per cent to close at N1.19 per cent.

55 equities appreciated in price during the week, higher than 44 equities in the previous week.  27 equities depreciated in price lower than 29 in the previous week, while 75 equities remained unchanged, lower than 84 equities recorded in the previous week.