Nigerian Exchange: Stock Market report for the week ended 11 August 2023

Stock Investors on the Nigerian Exchange saw marginal gains in the week ended 11 August 2023, as the Market Capitalization appreciated by 0.26% to close the week at N35.57 trillion.

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

Guinea Insurance Plc (NGX: GUINEAINS) was the best performing stock in the week advancing by 50.00%, while John Holt Plc (NGX: JOHNHOLT) was the worst performed, shading 18.37%.

The week in review saw the listing of new shares on the Nigerian Exchange Limited by MTN Nigeria Communications Plc (NGX: MTNN) and Fidelity Bank Plc (NGX: FIDELITYBK).

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

Activity Level

A total turnover of 1.741 billion shares worth N25.087 billion in 30,652 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.575 billion shares valued at N29.615 billion that exchanged hands last week in 37,713 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.244 billion shares valued at N12.616 billion traded in 13,398 deals; thus contributing 71.43% and
50.29% to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 133.034 million shares worth N575.673 million in 1,572 deals.

The third place was the ICT Industry, with a turnover of 87.649 million shares worth N2.292 billion in 2,404 deals.

Trading in the top three equities namely Sterling Financial Holdings Company Plc, FBN Holdings Plc, and Universal Insurance Plc (measured by volume) accounted for 518.847
million shares worth N3.917 billion in 1,901 deals, contributing 29.80% and 15.61% to the total equity turnover volume and value respectively.

Index Movement

The NGX All-Share Index and Market Capitalization appreciated by 0.20% and 0.26% to close the week at 65,325.37 and N35.572 trillion respectively.

Year-to-Date, the NGX All-Share Index has advanced by 27.46%, while Quarter-to-Date, it has appreciated by 7.15%, and Month-to-Date, it has appreciated by 1.54%.

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

NGX Banking Index: The index appreciated by 2.36% to 681.58 from 673.10 (YTD: 63.25%, QTD: 5.60%, MTD: 1.69%).
NGX Insurance Index: The index appreciated by 0.73% to 273.75 from 271.76 (YTD: 57.00%, QTD: -1.20%, MTD: 4.99%).
NGX Consumer Goods Index: The index depreciated by 0.92% to 885.74 from 877.59 (YTD: 49.01%, QTD: -1.92%, MTD: 2.79%).
NGX Oil/Gas Index: The index depreciated by 0.32% to 918.43 from 921.34 (YTD: 98.59%, QTD: 18.38%, MTD: -1.39%).
NGX Industrial Goods Index: The index depreciated by 0.39% to 2,851.79 from 2,840.70 (YTD: 18.20%, QTD: 14.02%, MTD: -0.13%).

Top Gainers and Losers

Forty-one (41) equities appreciated in price during the week lower than forty-two (42) equities in the previous week.

Forty-four (44) equities depreciated in price lower than fifty-two (52) in the previous week, while seventy (70) equities remained unchanged, higher than sixty-two (62) recorded in the previous week.

The top five gainers for the week under review are;

Guinea Insurance Plc (NGX: GUINEAINS): It gained 50.00% as it moved from N0.26 to N0.39.
The Initiates Plc (NGX: TIP): It gained 30.56% as it moved from N0.72 to N0.94.
Chellarams Plc (NGX: CHELLARAM): It gained 29.79% as it moved from N3.39 to N4.40.
Sunu Assurances Nigeria Plc (NGX: SUNUASSUR): It gained 23.66% as it moved from N0.93 to N1.15.
Cornerstone Insurance Plc (NGX: CORNERST): It gained 21.65% to move from N0.97 to N1.18.

The top five loser for the week under review are;

John Holt Plc (NGX: JOHNHOLT): It lost 18.37% as it moved from N1.47 to N1.20.
Dangote Sugar Refinery Plc (NGX: DANGSUGAR): It lost 12.00% going from N37.50 per share to N33.00 per share.
R T Briscoe Plc (NGX: RTBRISCOE): It lost 10.42% going from N0.0.48 to N0.43.
CAP Plc (NGX: CAP): It lost 10.00% going from N22.00 to N19.80.
NASCON Allied Industries Plc (NGX: NASCON): It lost 10.00% going from N41.00 to N36.90.