Nigerian Exchange: Stock Market report for week ended 22 September 2023

The NGX All-Share Index and Market Capitalization of the Nigerian Exchange’s equities market both depreciated by 0.11% to 67,324.59 and N36.84 trillion respectively in the week ended 22 September, 2023.

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

In the preceding week ended 15 September, 2023, the NGX All-Share Index lost 1.10% to close trading at 67,395.74 points, while the market capitalization depreciated by the same percentage to settle at N36.88 trillion.

The major news of the week was the announcement by Ellah Lakes Plc (NGX: ELLAHLAKES) that it had obtained approval from the Securities and Exchange Commission (SEC) to proceed with its ₦2.9bn rights issue.

Investogist reported on  Thursday that Nigerian agribusiness has obtained SEC’s approval to conduct the signing ceremony with regards to the proposed Rights Issue of 1,000,000,000 shares of 50 Kobo each at N2.90 per share, on the basis of one (1) new ordinary share for every two (2) ordinary shares held.

Sunu Assurances Nigeria Plc (NGX: SUNUASSUR) was the best performing stock in the week in review, advancing by 32.91%, while Tantalizers Plc (NGX: TANTALIZER) was the worst performing stock, shading 21.05%.

Activity Level

The activity level was mixed in the week as volume of shares traded increased while the value of shares traded increased. The no of deals done in the week increased marginally.

A total turnover of 3.911 billion shares worth N30.379 billion in 38,536 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.933 billion shares valued at N47.449 billion that exchanged hands last week in 44,654 deals.

The Financial Services Industry (measured by volume) led the activity chart with 2.774 billion shares valued at N15.241 billion traded in 16,379 deals; thus contributing 70.92% and 50.17% to the total equity turnover volume and value respectively. The Oil and Gas Industry followed with 438.508 million shares worth N5.203 billion in 6,258 deals. The third place was the ICT Industry, with a turnover of 294.470 million shares worth N4.447 billion in 3,078 deals.

Trading in the top three equities namely Universal Insurance Plc, Oando Plc and United Bank for Africa Plc (measured by volume) accounted for 2.212 billion shares worth N8.907 billion in 7,593 deals, contributing 56.56% and 29.32% to the total equity turnover volume and value respectively.

Index Movement

The NGX All-Share Index and Market Capitalization depreciated by 0.11% to close the week at 67,324.59 and N36.847 trillion respectively.

Year-to-Date, the NGX All-Share Index has advanced by 31.36%, while Quarter-to-Date, it has appreciated by 10.43%, and Month-to-Date, it has appreciated by 1.17%.

Below are the performances of the indices under our watch;

• NGX Banking Index: The index appreciated by 0.61% to 695.24 from 691.02 (YTD: 66.52%, QTD: 7.72%, MTD: 7.57%).
• NGX Insurance Index: The index appreciated by 3.34% to 275.37 from 266.46  (YTD: 57.93%, QTD: -0.61%, MTD: 2.46%).
• NGX Consumer Goods Index: The index appreciated by 2.98% to 1,082.42 from 1,114.71  (YTD: 87.88%, QTD: 27.06%, MTD: 8.85%).
• NGX Oil/Gas Index: The index appreciated by 0.56% to 925.52 from 920.36 (YTD: 100.12%, QTD: 19.29%, MTD: -1.53%).
• NGX Industrial Goods Index: The index depreciated by 4.80% to 2,746.39 from 2,884.92 (YTD: 14.28%, QTD: 10.24%, MTD: -3.99%).

Top gainers and losers

Forty-eight (48) equities appreciated in price during the week higher than thirty-two (32) equities in the previous week.

The top five gainers for the week under review are;

1. Sunu Assurances Nigeria Plc (NGX: SUNUASSUR): It gained 32.91% as it moved from N0.79 to N1.05.
2. Ellah Lakes Plc (NGX: ELLAHLAKES): It gained 28.79% as it moved from N3.30 to N4.25
3. E-Tranzact International Plc (NGX: ETRANZACT): It gained 28.57% as it moved from N7.35 to N9.45
4. Chams Holding Company Plc (NGX: CHAMS): It gained 19.09% as it moved from N1.10 to N1.31
5. Abbey Mortgage Bank Plc (NGX: ABBEYBDS): It gained 17.65% as it moved from N0.85 to N1.00

Forty (40) equities depreciated in price lower than fifty-three
(53) in the previous week, while sixty-seven (67) equities remained unchanged, lower than seventy (70) recorded in the previous week.

The top five loser for the week under review are;

1. Tantalizers Plc (NGX: TANTALIZER): It lost 21.05% as it moved from N0.38 to N0.30
2. Guinea Insurance Plc (NGX: GUINEAINS): It lost 20.69% as it moved from N0.29 to N0.23
3. McNichols Plc (NGX: MCNICHOLS): It lost 13.33% as it moved from N0.75 to N0.65
4. Unity Bank Plc (NGX: UNITYBNK): It lost 11.29% as it moved from N1.24 to N1.10
5. Secure Electronic Technology Plc Plc (NGX: NSLTECH): It lost 10.34% as it moved from N0.29 to N0.26

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur