Nigerian Exchange: Stock Market report for the week ended 25 August 2023

The equity market segment of the Nigerian Exchange returned to gains in the week ended 25 August, with the benchmark All-Share Index (NGX ASI) appreciating by 1.29% to close the week at 65,558.91 points.

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In the preceding week ended 18 August, the NGX ASI had depreciated by 0.93% to close the week at 64,721.09 points.

Associated Bus Company Plc (NGX: ABCTRANS) was the best performing stock in the week advancing by 41.67%, while Tantalizers Plc (NGX: TANTALIZER) was the worst performing stock, shading 27.50%.

In the week in review, the share prices of Custodian Investment Plc (NGX: CUSTODIAN), Red Star Express Plc (NGX: REDSTAREX) and Northern Nigeria Flour Mills Plc (NGX: NNFM) were adjusted for dividends of N0.15, N0.20 and N0.35 respectively.

Activity level

A total turnover of 1.812 billion shares worth N29.299 billion in 31,163 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.689 billion shares valued at N29.407 billion that exchanged hands last week in 29,477 deals.

The Financial Services Industry (measured by volume) led the activity chart with 936.685 million shares valued at N10.116 billion traded in 12,886 deals; thus contributing 51.68% and 34.53% to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 461.589 million shares worth N2.333 billion in 3,451 deals. The third place was the Consumer Goods Industry, with a turnover of 127.310 million shares worth N5.003 billion in 5,792 deals.

Trading in the top three equities namely Transnational Corporation Plc, Fidelity Bank Plc and Access Holdings Plc (measured by volume) accounted for 693.533 million shares worth N5.030 billion in 5,450 deals, contributing 38.26% and 17.17% to the total equity turnover volume and value respectively.

Index movement

The NGX All-Share Index and Market Capitalization appreciated by 1.29% to close the week
at 65,558.91 and N35.881 trillion respectively.

Year-to-Date, the NGX All-Share Index has advanced by 27.92%, while Quarter-to-Date, it has appreciated by 7.53%, and Month-to-Date, it has appreciated by 1.90%.

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

NGX Banking Index: The index depreciated by 3.57% to 643.73 from 667.57 (YTD: 54.19%, QTD: -0.26%, MTD: -3.95%).
NGX Insurance Index: The index appreciated by 1.22% to 271.09 from 267.82 (YTD: 55.48%, QTD: -2.16%, MTD: 3.97%).
NGX Consumer Goods Index: The index appreciated by 11.58% to 1,002.56 from 898.53 (YTD: 70.23%, QTD: 12.05%, MTD: 17.43%).
NGX Oil/Gas Index: The index depreciated by 1.69% to 892.63 from 908.02 (YTD: 93.01%, QTD: 15.05%, MTD: -4.16%).
NGX Industrial Goods Index: The index depreciated by 0.01% to 2,850.74 from 2,851.11 (YTD: 18.62%, QTD: 14.43%, MTD: 0.22%).

Top gainers and losers

Thirty-two (32) equities appreciated in price during the week higher than twenty-nine (29) equities in the previous week.

Forty-six (46) equities depreciated in price lower than fifty-six (56) in the previous week, while seventy-seven (77) equities remained unchanged, higher than seventy (70) recorded in the previous week.

The top five gainers for the week under review are;

Associated Bus Company Plc (NGX: ABCTRANS) : It gained 41.67% as it moved from N0.48 to N0.68.
Transnational Corporation Plc (NGX: TRANSCORP): It gained 39.42% as it moved from N4.16 to N5.80.
Dangote Sugar Refinery Plc (NGX: DANGSUGAR): It gained 35.71% as it moved from N35.00 to N47.50.
Thomas Wyatt Nig. Plc (NGX: THOMASWY): It gained 31.78% as it moved from N1.29 to N1.70.
CWG Plc (NGX: CWG): It gained 31.58% as it moved from N3.80 to N5.00.

The top five loser for the week under review are;

Tantalizers Plc (NGX: TANTALIZER): It lost 25.70% as it moved from N0.40 to N0.29.
Red Star Express Plc (NGX: REDSTAREX): It lost 17.43% as it moved from N3.50 to N2.89.
Daar Communications Plc (NGX: DAARCOMM): It lost 15.63% as it moved from N0.32 to N0.27.
Guinea Insurance Plc (NGX: GUINEANS): It lost 13.79% going from N0.29 per share to N0.25 per share.
Jaiz Bank Plc (NGX: JAIZBANK): It lost 13.77% going from N1.67 to N1.44.