Nigerian Exchange: Stock Market report for week ended 8 September 2023

In the week that marked the first 100 days in Office for President Ahmed Tinubu, the Nigerian Exchange equities market closed positively.

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The NGX All Share Index gained 0.91% to close trading on Friday at 68,143.34 points, while the market capitalization appreciated by the same percentage to settle at N37.29 trillion.

In the preceding week ended September 1st, 2023, NGX All-Share Index and Market Capitalization appreciated by 3.00% to close the week at 67,527.19 and N36.958 trillion respectively.

CWG Plc (NGX: CWG) was the best performing stock in the week advancing by 44.14%, while Chellarams Plc (NGX: CHELLARAM) was the worst performing stock, shading 18.77%.

Activity Level

A total turnover of 2.644 billion shares worth N45.450 billion in 44,189 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.510 billion shares valued at N32.816 billion that exchanged hands last week in 40,736 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.587 billion shares valued at N20.896 billion traded in 18,686 deals; thus contributing 60.03% and 45.98% to the total equity turnover volume and value respectively. The Oil and Gas Industry followed with 385.514 million shares worth N4.678 billion in 4,579 deals. The third place was the Consumer Goods Industry, with a turnover of 221.578 million shares worth N12.668 billion in 8,919 deals.

Trading in the top three equities namely Oando Plc, Fidelity Bank Plc and United Bank for Africa Plc (measured by volume) accounted for 732.276 million shares worth N7.148 billion in 7,020 deals, contributing 27.70% and 15.73% to the total equity turnover volume and value respectively.

Index Movement

The NGX All-Share Index and Market Capitalization appreciated by 0.91% to close the week at 68,143.34 and N37.295 trillion respectively.

Year-to-Date, the NGX All-Share Index has advanced by 32.96%, while Quarter-to-Date, it has appreciated by 11.77%, and Month-to-Date, it has appreciated by 2.40%.

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

NGX Banking Index: The index appreciated by 5.55% to 714.16 from 676.62 (YTD: 71.06%, QTD: 10.65%, MTD: 10.50%).
NGX Insurance Index: The index depreciated by 2.94% to 265.24 from 273.27 (YTD: 52.12%, QTD: -4.27%, MTD: -1.31%).
NGX Consumer Goods Index: The index appreciated by 2.24% to 1,102.72 from 1,078.24 (YTD: 87.24%, QTD: 23.24%, MTD: 3.74%).
NGX Oil/Gas Index: The index depreciated by 0.12% to 939.35 from 940.90 (YTD: 103.11%, QTD: 21.07%, MTD: -0.06%).
NGX Industrial Goods Index: The index depreciated by 0.49% to 2,907.08 from 2,892.88 (YTD: 20.37%, QTD: 16.12%, MTD: 1.13%).

Top gainers and losers

Fifty-two (52) equities appreciated in price during the week lower than fifty-five (55) equities in the previous week.

Thirty-five (35) equities depreciated in price higher than twenty-eight (28) in the previous week, while sixty-eight (68) equities remained unchanged, lower than seventy-two (72) recorded in the previous week.

The top five gainers for the week under review are;

CWG Plc (NGX: CWG): It gained 44.14% as it moved from N4.01 to N5.78.
Tantalizers Plc (NGX: TANTALIZER) : It gained 39.39% as it moved from N0.33 to N0.46.
Oando Plc (NGX: OANDO): It gained 38.74% as it moved from N5.50 to N7.70.
Beta Glass Plc (NGX: BETAGLASS): It gained 32.95% as it moved from N39.00 to N51.85.
Omatek Ventures Plc (NGX: OMATEK): It gained 26.09% as it moved from N0.46 to N0.58.

The top five loser for the week under review are;

Chellarams Plc (NGX: CHELLARAM): It lost 18.77% as it moved from N3.57 to N2.90.
Cornerstone Insurance Plc (NGX: CORNERST): It lost 11.43% as it moved from N1.40 to N1.24.
Consolidated Hallmark Insurance Plc (NGX: CHIPLC): It lost 11.30% as it moved from N1.15 to N1.02.
Morison Industries Plc (NGX: MORISON): It lost 9.89% going from N2.83 per share to N2.55 per share.
Vitafoam Nig. Plc (NGX: VITAFOAM): It lost 9.27% going from N24.80 to N22.50.