Investogist - Nigerian Exchange - Stock Market report for the week ended 7th July, 2023

The bullish movement of the equities market on the Nigerian Exchange continued in the week ended 7th July, as the NGX All-Share Index (ASI) gained 3.40% in the week to close at 60,968.27 points.

Also read; Barbican Capital Limited affiliated to Otudeko acquires 13.3% stake in FBN Holdings

The high volume of trade in FBN Holdings Plc (NGX: FBNH) dominated the week, and the week ended with that news that Barbican Capital Limited affiliated to FBNH’s former Chairman Otudeko had acquired 13.3% equity stake in the company.

Activity Level

A total turnover of 9.831 billion shares worth N145.408 billion in 54,478 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 3.369 billion shares valued at N41.986 billion that exchanged hands last week in 39,764 deals.

The Financial Services Industry (measured by volume) led the activity chart with 8.349 billion shares valued at N127.944 billion traded in 27,291 deals; thus contributing 84.92% and 87.99% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 420.770 million shares worth N1.683 billion in 2,840 deals. The third place was the ICT Industry, with a turnover of 220.121 million shares worth N2.198 billion in
3,237 deals.

Trading in the top three equities namely FBNH Holding Plc, FCMB Group Plc and United Bank for Africa (measured by volume) accounted for 6.071 billion shares worth N102.488 billion in 7,505 deals, contributing 61.75% and 70.48% to the total equity turnover volume and value respectively.

Index Movement

The NGX All-Share Index and Market Capitalization appreciated by 3.40% to close the week at 63,040.41 and N34.326 trillion respectively.

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

NGX Banking Index: The index appreciated by 9.82% to 708.77 from 645.42 (YTD: 69.77%, QTD: 9.82%, MTD: 9.82%).
NGX Insurance Index: The index appreciated by 0.73% to 279.10 from 277.07 (YTD: 60.07%, QTD: 0.73%, MTD: 0.73%).
NGX Consumer Goods Index: The index depreciated by 0.22% to 892.77 from 894.76 (YTD: 51.59%, QTD: -0.22%, MTD: -0.22%).
NGX Oil/Gas Index: The index appreciated by 7.18% to 831.59 from 775.85 (YTD: 79.81%, QTD: 7.18%, MTD: 7.18%).
NGX Industrial Goods Index: The index appreciated by 2.22% to 2502.37 from 2493.13 (YTD: 5.97%, QTD: 2.22%, MTD: 2.22%).

Top Gainer and Losers

Seventy-eight (78) equities appreciated in price during the week higher than seventy-seven (77) equities in the previous week. Twenty-five (25) equities depreciated in price lower than fifty-nine (59) in the previous week, while Fifty-three (53) equities remained unchanged, higher than twenty (20) recorded in the previous week.

The top five gainers for the week under review are;

Japual Gold & Ventures Plc (NGX: JAPAULGOLD): It gained 58.57% going from N0.70 per share to N1.11 per share.
Consolidated Hallmark Insurance Plc (NGX: CHIPLC): It gained 57.32% going from N0.82 per share to N1.29 per share.
Chams Holding Company Plc (NGX: CHAMS): It gained 56.76% going from N0.74 per share to N1.16 per share.
Omatek Ventures Plc (NGX: OMATEK): It gained 53.78% going from N0.36 per share to N0.55 per share.
Veritas Kapital Assurance Plc (NGX: VERITASKAP): It gained 47.89% going from N0.23 per share to N0.34 per share.

The top five loser for the week under review are;

Coronation Insurance Plc (NGX: WAPIC): It lost 26.51% as it moved from N0.83 to N0.61.
Tripple Gee and Company Plc (NGX: TRIPPLEG): It lost 26.40% as it moved from N3.75 to N2.76.
Ikeja Hotel Plc (NGX: IKEJAHOTEL): It lost 21.05% to move from N3.99 to N3.15.
Lasaco Assurance Plc (NGX: LASACO): It lost 16.92% to move from N2.60 to N2.16.
Champion Breweries Plc (NGX: CHAMPION): It lost 14.50% to move from N5.38 to N4.60.