Nigerian Exchange Group records decline w-o-w, down by 0.59%

The Nigerian equities market closed bearish during the week as the All-Share Index declined by 0.59 per cent in the week ended 19th August 2022. This is following the 2.91 per cent 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 0.59 per cent from 49,664.07 points recorded as of the end of last week to close the week at 49,370.62 index points, while the market capitalization followed suit to close at N26.63 trillion.

This brings the month-to-date performance of the Nigerian stock market to a negative 1.98 per cent and a year-to-date gain of 15.58 per cent.

A total of 823.005 million shares valued at N12.228 billion were traded during the week across 17,482 deals on the floor of The Exchange. This is greater than the 1.511 billion units of shares valued at N13.547 billion that exchanged hands in the previous week in 20,074 deals.

Similar to the previous week, the Financial Services Industry led the activity chart in terms of volume of shares traded with 561.683 million shares valued at N5.576 billion traded in 8,388 deals; thereby contributing 68.25 per cent and 45.60 per cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 91.819 million shares worth N1.478 billion in 1,532 deals, while the Consumer Goods Industry stood in third place with a turnover of 42.546 million shares worth N3.396 billion in 2,639 deals.

Trading in the top three equities by volume namely FBN Holdings Plc, E-Tranzact International Plc and United Bank for Africa Plc accounted for 323.474 million shares worth N2.520 billion in 1,457 deals, contributing 39.30 per cent and 20.61 per cent  to the total equity turnover volume and value respectively.

Similarly, 13 indices finished lower, while 4 indexes appreciated with the exception of NGX ASeM Index and NGX Growth Index which remained unchanged.

Prestige went up by 18.18 per cent increase to close at N0.52 per share, followed by Neimeth Pharmcetical Industry grew by 9.29 per cent to close at N1.53 per share, While SOVEREIGN TRUST INSURANCE rose by 8.00 per cent to close at N0.27 per share.

RED STAR appreciated by  5.88 per cent to close at N2.70 per share and Unity bank up by 4.65 per cent to close at N0.45 per share

On the other hand, Japaul gold depreciated by 23.68 per cent to close at N0.29 per share, Followed by Courteville BUSINESS SOLUTION dipped by  21.43 per cent to close at N0.44 per share, while University press dropped by  18.87 per cent to close at N1.72 per share.

P Z cussion depreciated by  17.07 per cent to close at N8.50 per cent and  Honeywell FLOUR MILL decline by  14.49 per cent to close at N2.42 per cent.