Nigerian Exchange: Market report for the week ended 16th June

The Nigerian Exchange produced its best performance yet under the Tinubu presidency, as the All-Share Index (NGX ASI) appreciated by 5.49% to surpass the 5.37% performance in the first week of his presidency.

Also read; List of Dividends announced in 2023, qualification and payment dates

It was a four-day trading week as the market opened on Tuesday, 13th June following the Federal Government of Nigeria’s declaration of Monday 12th June 2023 as a Public Holiday to commemorate the Democracy Day.

Investogist reported that in the preceding week with four trading days, the All-Share Index appreciated by 5.37% to record the best 4-day trading week for a newly inaugurated President since 1999.

FTN Cocoa Processors Plc (NGX: FTNCOCOA) was the best performing stock as it advanced 45.16% to move from N0.93 to N1.35, while The Initiates Plc (NGX: TIP) was the worst performing stock losing 25.00% to move from N0.52 to N0.39.

The activity level waned with both volume and value of shares traded decreasing in the four days compared to the preceding five-day trading week.

Activity Level

A 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% and 72.77% 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, 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% and 44.47% to the total equity turnover volume and value respectively.

Index Movement

The NGX All-Share Index and Market Capitalization appreciated by 5.49% to close the week at 59,000.96 and N32.126 trillion respectively

Year-to-Date, the NGX All-Share Index had advanced by 15.12%, while Quarter-to-Date, it has appreciated by 8.79%, and Month-to-Date, it has appreciated by 5.79%.

The below are the performances of the indices under our watch;

• NGX Banking Index: The index appreciated by 12.59% to 592.14 from 525.93 (YTD: 41.83%, QTD: 30.72%, MTD: 13.12%).
• NGX Insurance Index: The index appreciated by 9.00% to 263.41 from 241.65 (YTD: 51.07%, QTD: 48.39%, MTD: 26.02%).
• NGX Consumer Goods Index: The index appreciated by 4.14% to 882.90 from 847.84 (YTD: 49.92%, QTD: 25.64%, MTD: 4.11%).
• NGX Oil/Gas Index: The index appreciated by 11.95% to 720.62 from 643.71 (YTD: 55.82%, QTD: 41.07%, MTD: 20.91%).
• NGX Industrial Goods Index: The index depreciated by -1.63% to 2413.91 from 2,453.92 (YTD: 0.44%, QTD: -5.01%, MTD: -2.98%).

Top Gainer and Losers

Seventy-seven (77) equities appreciated in price during the week higher than fifty-two (52) equities in the previous week.

Twenty-four (24) equities depreciated in price lower than twenty-seven (27) in the previous week, while fifty-five (55) equities remained unchanged, lower than seventy-seven (77) recorded in the previous week.

The top five gainers for the week under review are;

1. FTN Cocoa Processors Plc (NGX: FTNCOCOA): It gained 45.16% going from N0.93 per share to N1.35 per share.
2. Unity Bank Plc (NGX: UNITYBNK): It gained 41.67% going from N0.72 per share to N1.02 per share.
3. Coronation Insurance Plc (NGX: WAPIC): It gained 40.43% going from N0.47 per share to N0.66 per share.
4. Transcorp Hotels Plc (NGX: TRANSCOHOTEL): It gained 37.35% going from N10.63 per share to N14.60 per share.
5. Jaiz Bank Plc (NGX: JAIZBANK): It gained 30.83% going from N1.33 per share to N1.74 per share.

The top five loser for the week under review are;

1. The Initiates Plc (NGX: TIP): It lost 25.00% as it moved from N0.52 to N0.39.
2. John Holt Plc (NGX: JOHNHOLT): It lost 17.86% as it moved from N1.40 to N1.15.
3. Associated Bus Company Plc (NGX: ABCTRANS): It lost 12.82% to move from N0.39 to N0.34.
4. Ellah Lakes Plc (NGX: ELLAHLAKES): It lost 10.00% to move from N4.00 to N3.60.
5. CWG Plc (NGX: CWG): It lost 10.00% to move from N1.80 to N1.62.

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur