Nigerian Exchange: Stock Market report for the week ended 18 August 2023

Stock Investors on the Nigerian Exchange saw the gains of the second week of August eroded in the week ended 18th August, as the benchmark All-Share Index (NGX ASI) depreciated by 0.93% to 64,721.09 points.

In the preceding week ended 11th August, the NGX ASI had appreciated marginally by 0.20% to close the week at 65,325.37 points.

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CWG Plc (NGX: CWG) was the best performing stock in the week advancing by 25.83%, while Sunu Assurances Nigeria Plc (NGX: SUNUASSUR) was the worst performing stock, shading 28.70%.

FBN Holdings Plc’s (NGX: FBNH) shareholder at their Annual General Meeting virtually held on Tuesday 15th August for the company to embark of a capital raise of up to N150bn by way of a Rights Issue.

Activity level

The activity level waned in the week, as both volume and value of shares traded declined, with only the no of deals done increasing.

A total turnover of 1.689 billion shares worth N29.407 billion in 29,477 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.741 billion shares valued at N25.087 billion that exchanged hands last week in 30,652 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.166 billion shares valued at N16.925 billion traded in 13,819 deals; thus contributing 69.04% and 57.55% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 191.320 million shares worth N843.336 million in 1,829 deals. The third place was the Oil & Gas Industry, with a turnover of 64.352 million shares worth N810.637 million in 2,159 deals.

Trading in the top three equities namely FBN Holdings Plc, Transnational Corporation Plc and Fidelity Bank Plc (measured by volume) accounted for 576.688 million shares worth N6.911 billion in 3,524 deals, contributing 34.14% and 23.50% to the total equity turnover volume and value respectively.

Index Movement

The NGX All-Share Index and Market Capitalization depreciated by 0.93% and 0.42% to close the week at 64,721.09 and N35.422 trillion respectively.

Year-to-Date, the NGX All-Share Index has advanced by 26.28%, while Quarter-to-Date, it has appreciated by 6.16%, and Month-to-Date, it has appreciated by 0.60%.

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

NGX Banking Index: The index depreciated by 2.06% to 667.57 from 681.58 (YTD: 59.90%, QTD: 3.43%, MTD: -0.40%).
NGX Insurance Index: The index depreciated by 2.17% to 267.82 from 273.75 (YTD: 53.60%, QTD: -3.34%, MTD: 2.72%).
NGX Consumer Goods Index: The index appreciated by 2.39% to 898.53 from 877.59 (YTD: 52.57%, QTD: 0.42%, MTD: 5.25%).
NGX Oil/Gas Index: The index depreciated by 1.13% to 908.43 from 918.43 (YTD: 96.34%, QTD: 17.04%, MTD: -2.51%).
NGX Industrial Goods Index: The index appreciated by 0.37% to 2,824.81 from 2,855.38 (YTD: 18.64%, QTD: 14.44%, MTD: 0.24%).

Top Gainers and Losers

Twenty-nine (29) equities appreciated in price during the week lower than forty-one (41) equities in the previous week.

Fifty-six (56) equities depreciated in price higher than fortyfour (44) in the previous week, while seventy (70) equities remained unchanged, same as seventy (70) recorded in the previous week.

The top five gainers for the week under review are;

CWG Plc (NGX: CWG): It gained 25.83% as it moved from N3.02 to N3.80.
The Initiates Plc (NGX: TIP): It gained 23.40% as it moved from N0.94 to N1.16.
John Holt Plc (NGX: JOHNHOLT): It gained 20.83% as it moved from N1.20 to N1.45.
Linkage Assurance Plc (NGX: LINKASSURE): It gained 18.07% as it moved from N0.83 to N0.98.
Prestige Assurance Plc (NGX: PRESTIGE): It gained 17.39% to move from N0.46 to N0.54.

The top five loser for the week under review are;

Sunu Assurances Nigeria Plc (NGX: SUNUASSUR): It lost 28.70% as it moved from N1.15 to N0.82.
Guinea Insurance Plc (NGX: GUINEAINS): It lost 25.64% as it moved from N0.39 to N0.29.
NEM Insurance Plc (NGX: NEM): It lost 10.00% as it moved from N6.00 to N5.40.
Unity Bank Plc (NGX: UNITYBNK): It lost 9.79% going from N1.43 per share to N1.29 per share.
Eterna Plc (NGX: ETERNA): It lost 9.39% going from N19.70 to N17.85