Nigerian Exchange: Stock Market report for week ended 20 October 2023

The Nigerian Exchange’s equity market closed the penultimate week of October on a bearish note.

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

Both the NGX All-Share Index and Market Capitalization depreciated in the week, shading 0.42% to close at 66,915.41 and N36.764 trillion respectively.

Thomas Wyatt Nig. Plc (NGX: THOMASWY) was the best performing stock in the week advancing by 29.64%, while Sovereign Trust Insurance Plc (NGX: SOVRENINS) was the worst performing stock, shading 17.05%.

Guinea Insurance Plc (NGX: GUINEAINS) on Tuesday, 17 Oct., listed 1,802,800,000 ordinary shares of 50 kobo each at 50 Kobo per share in a supplementary listing.

The additional shares listed on NGX arose from Guinea Insurance’s private placement. With this listing of the additional 1,802,800,000 ordinary shares, the total issued and fully paid up shares of Guinea Insurance Plc has now increased from 6,140,000,000 to 7,942,800,000 ordinary shares of 50 kobo each.

Guinea Insurance Share price lost 2 kobo on Friday, to close the week at N0.23.

Also on Tuesday, 17 Oct., trading of the shares of Courteville Business Solution Plc (NGX: COURTVILLE) in preparation for the delisting of the securities of the Company in line with the approval obtained from Nigerian Exchange Limited.

Activity Level

A total turnover of 1.496 billion shares worth N24.284 billion in 29,298 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.470 billion shares valued at N24.431 billion that exchanged hands last week in 29,683 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.047 billion shares valued at N12.709 billion traded in 13,667 deals; thus contributing 69.99% and 52.34% to the total equity turnover volume and value respectively. The ICT Industry followed with 94.997 million shares worth N1.445 billion in 1,982 deals. The third place was the Conglomerates Industry, with a turnover of 80.655 million shares worth N526.409 million in 1,459 deals.

Trading in the top three equities namely United Bank for Africa Plc, Fidelity Bank Plc and Access Holdings Plc (measured by volume) accounted for 447.125 million shares worth N6.488 billion in 4,913 deals, contributing 29.88% and 26.72% to the total equity turnover volume and value respectively.

Index Movement

The NGX All-Share Index and Market Capitalization depreciated by 0.42% to close the week at 66,915.41 and N36.764 trillion respectively.

Year-to-Date, the NGX All-Share Index has advanced by 30.56%, while Quarter-to-Date, it has appreciated by 0.80%, and Month-to-Date, it has appreciated by 0.80%.

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

NGX Banking Index: The index appreciated by 3.52% to 694.09 from 670.47 (YTD: 66.25%, QTD: 4.18%, MTD: 4.18%).
NGX Insurance Index: The index depreciated by 0.96% to 274.08 from 276.74 (YTD: 57.16%, QTD: -3.15%, MTD: -3.15%).
NGX Consumer Goods Index: The index depreciated by 0.46% to 1,150.07 from 1,144.81 (YTD: 94.39%, QTD: 1.10%, MTD: 1.10%).
NGX Oil/Gas Index: The index depreciated by 0.02% to 916.85 from 917.06 (YTD: 98.25%, QTD: 0.31%, MTD: 0.31%).
NGX Industrial Goods Index: The index depreciated by 0.07% to 2,731.22 from 2,756.33 (YTD: 14.69%, QTD: 3.51%, MTD: 3.51%).

Top gainers and losers

Twenty-eight (28) equities appreciated in price during the week lower than thirty-eight (38) equities in the previous week.

Forty-six (46) equities depreciated in higher than thirty-three (33) in the previous week, while eighty-three (83) equities remained unchanged, lower than eighty-six (86) recorded in the previous week.

The top five gainers for the week under review are;

Thomas Wyatt Nig. Plc (NGX: THOMASWY): It gained 29.64% as it moved from N2.80 to N3.63
Daar Communications Plc (NGX: DAARCOMM) : It gained 9.52% as it moved from N0.21 to N0.23.
Julius Berger Plc (NGX: JBERGER): It gained 9.09% as it moved from N33.00 to N36.00.
United Bank for Africa Plc (NGX: UBA): It gained 8.26% as it moved from N17.55 to N19.00.
Learn Africa Plc (NGX: LEARNAFRICA): It gained 6.45% as it moved from N3.10 to N3.30.

The top five loser for the week under review are;

Sovereign Trust Insurance Plc (NGX: SOVRENINS): It lost 19.05% as it moved from N1.26 to N1.02.
Cadbury Nigeria Plc (NGX: CADBURY): It lost 16.00% as it moved from N0.15.00 to N12.60.
Stanbic IBTC Holdings Plc (NGX: STANBIC): It lost 13.06% as it moved from N80.00 to N69.55.
Flour Mills of Nig. Plc (NGX: FLOURMILL): It lost 11.88% going from N32.00 per share to N28.20 per share.
Okomu Oil Palm Plc (NGX: OKOMUOIL): It lost 9.96% going from N263.00 to N236.80.