Stock market appreciates by 5.49%, W/W

By Philemon Adedeji

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation appreciated by 5.49 per cent to close the week at 59,000.96 and N32.126 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX Industrial Goods and NGX Growth which depreciated by 1.63 per cent and 1.07 per cent respectively while the NGX ASeM index closed flat.

The market opened for four trading days this week as the Federal Government of Nigeria declared Monday 12th June 2023 as Public Holiday to commemorate the Democracy Day.

The breakdown of the market performance revealed that total turnover of 4.276 billion shares worth N62.176 billion in 44,344 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.196 billion shares valued at N45.971 billion that exchanged hands last week in 31,655 deals.

The Financial Services Industry (measured by volume) led the activity chart with 3.303 billion shares valued at N45.244 billion traded in 23,490 deals; thus contributing 77.26 per cent and 72.77 per cent to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with 247.383 million shares worth N2.368 billion in 3,561 deals. The third place was the Consumer Goods Industry, with a turnover of 223.315 million shares worth N4.640 billion in 5,982 deals.

Trading in the top three equities namely United Bank for Africa Plc (UBA), Guaranty Trust Holding Company Plc and Access Holdings Plc (measured by volume) accounted for 1.475 billion shares worth N27.648 billion in 8,875 deals, contributing 34.50 per cent and 44.47 per cent to the total equity turnover volume and value respectively.

On the price movement chart, FTN Cocoa Processor emerged as the highest price gainer rose by 45.16 per cent to close at N1.35 per share, Unity Bank which followed grew by 41.67 per cent to close at N1.02 per share, While Coronation Insurance went up by 40.43 per cent to close at N0.66 per share.

Transnational Corporation which recorded as the last fourth gainer appreciated by 37.35 per cent increased to close at N14.60 per share, Jaiz Bank which recorded as the last fifth gainer grew by 30.83 per cent to close at N1.74 per share.

On the decliner’s log, The Iniates Company plc led the losers with 25.00 per cent to close at N0.39 per share, closely followed by Johnholt which suffered 17.86 per cent loss to close at N1.15 per share, while Associated Bus Company went down by 12.82 per cent to close at N0.34 per share.

Ellah Lake and Computer Warehouse Group depreciated by 10.00 per cent each to close at N3.60 and N1.62 per share respectively.