Nigerian stock market weekly report: Local bourse loses 0.42%

The Nigerian local bourse lost by 0.42% in the week ended 22nd March 2024. The benchmark All-Share Index (NGX ASI) opened the week at 105,085.25 points and closed at 104,647.37 points.

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The market capitalization depreciated by the same percentage to close the week at ₦59.16 trillion.

Juli Plc (NGX: JULI) led the gainers table with +46.10%, while Julius Berger Nig. Plc (NGX: JBERGER) led the losers table with -17.15%.

A total turnover of 1.735 billion shares worth N48.755 billion in 45,237 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.773 billion shares valued at N52.867 billion that exchanged hands last week in 44,713 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.273 billion shares valued at N31.077 billion traded in 23,066 deals; thus contributing 73.36% and 63.74% to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 123.237 million shares worth N1.772 billion in 3,205 deals. The third place was the Consumer Goods Industry, with a turnover of 104.854 million shares worth N5.292 billion in 6,166 deals.

Trading in the top three equities namely United Bank for Africa Plc, FBN Holdings Plc and Access Holdings Plc (measured by volume) accounted for 564.882 million shares worth N16.990 billion in 8,493 deals, contributing 32.56% and 34.85% to the total equity turnover volume and value respectively.

All the but four of the five indices under our watch appreciated in the week, with the consumer goods index being the only decliner.

The YTD performance of Indices under our watch at the end of the week in review is as below;

• NGX Banking Index: +12.59%
• NGX Industrial Goods Index: +78.11%
• NGX Consumer Goods Index: +45.06%
• NGX Oil/Gas Index: +24.09%
• NGX Insurance Index: +22.30%

Fifty (50) equities appreciated in price during the week lower than fifty-five (55) equities in the previous week.

Thirty-two (32) equities depreciated in price higher than twenty-four (24) in the previous week, while seventy-two (72) equities remained unchanged, lower than seventy-five (75) recorded in the previous week.

Top 5 Price Gainers

1. Juli Plc (NGX: JULI): It gained 46.10% to close at ₦5.38.
2. Nem Insurance Plc (NGX: NEM): It gained 45.11% to close at ₦9.65.
3. International Energy Insurance Plc (NGX: INTENEGINS): it gained 22.95% to close at ₦1.50.
4. Jaiz Bank Plc (NGX: JAIZBANK): It gained 20.40% to close at ₦2.43.
5. Thomas Wyatt Nig. Plc (NGX: THOMASWY): it gained 19.78% to close at ₦2.18.

Top 5 Price Decliners

1. Julius Berger Nig. Plc (NGX: JBERGER): It lost 17.15% to close at ₦60.15.
2. Daar Communications Plc (NGX: DAARCOMM): It lost 14.10% to close at ₦0.67.
3. UPDC Real Estate Investment Trust (NGX: UPDCREIT): It lost 12.73% to close at ₦4.80.
4. Deap Capital Management & Trust Plc (NGX: DEAPCAP): It lost 12.50% to close at ₦0.63.
5. MTN Nigeria Communications Plc (NGX: MTNN): It lost 12.5% to close at ₦235.00.

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur