Nigerian stock market daily report: 0.13% gain reverses week’s losing streak

The Equities market on the Nigerian Exchange reversed the weeks losing streak, gaining 0.13% on Thursday.

Loses across banking stock counters dragged the market into loss on Wednesday, and on Thursday, gains by banking stocks propelled it to gains.

Gains in major banking stocks like Zenith Bank Plc (NGX: ZENITHBANK), Guaranty Trust Holding Company Plc (NGX: GTCO), Access Holdings Plc (NGX: ACCESSCORP) and United Bank for Africa Plc (NGX: UBA), contributed to Thursday’s gains.

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The benchmark All-Share Index (NGX ASI) gained by 0.13% to close trading at 104,387.47 points, while equities market capitalization declined by the same 0.13% to settle at ₦59.02 trillion. Investors’ wealth grew by ₦74 billion.

Meanwhile, year to date, the All-Share Index gains improved to 39.43%, with investor’s gains standing at ₦18.10 trillion

Juli Plc (NGX: JULI) emerged as the top gainer, advancing by 10.00%, while Deap Capital Management & Trust Plc (NGX: DEAPCAP) was the biggest loser, with it’s share price shading 10.00%.

Activity Level

The activity level improved on Thursday as the volume of shares traded, value of the traded and the number of deals done all increased.

While the volume of shares traded increased by 12.79%,  the value of shares traded increased by 35.75%. Furthermore, the no of deals done also increased by 6.57%.

At the end of trading, 336.81 million shares valued at ₦9.28 billion had exchanged hands in 8,790 deals.

Shares of United Bank for Africa Plc (NGX: UBA), Access Holdings Plc (NGX: ACCESSCORP) and Zenith Bank Plc (NGX: ZENITHBANK) were the most traded stocks by volume with 63.88 million, 32.01 million and 21.77 million shares respectively.

Shares of Nestle Nigeria Plc (NGX: NESTLE), United Bank for Africa Plc (NGX: UBA) and Guaranty Trust Holding Company Plc (NGX: GTCO) were the most traded by value, with their shares worth ₦1.82 billion, ₦1.72 billion and ₦0.89 billion respectively exchanging hands.

Top gainers and losers

At the end of the day’s trading session, 22 stocks advanced while 29 stocks declined.

The top five gainers were;

1. Juli Plc (NGX: JULI): It gained 10.00% to close at ₦7.15.
2. Transnational Corporation Plc (NGX: TRANSCORP): It gained 9.96% to close at ₦14.90.
3. International Energy Insurance Plc (NGX: INTENEGINS): It gained 9.66% to close at ₦1.59.
4. E-Tranzact International Plc (NGX: ETRANZACT): It gained 9.65% to close at ₦6.25.
5. Guinea Insurance Plc (NGX: GUNEAINS): It gained 8.33% to close at ₦0.39.

The top five losers were;

1. Deapcap Capital Management Plc (NGX: DEAPCAP): It lost 10.00% to close at ₦0.63.
2. Tourist Company of Nigeria Plc (NGX: TOURIST): It lost 9.86% to close at ₦2.56.
3. CWG Plc (NGX: CWG): It lost 9.09% to close at ₦5.50.
4. Caverton Offshore Support Group Plc (NGX: CAVERTON): It lost 8.57% to close at ₦1.60.
5. Omatek Ventures Plc (NGX: OMATEK): It lost 8.05% to close at ₦0.80.

All but one of the five indices under our watch advanced on Thursday.

1. Banking Index: The index gained by 0.90% to close at 995.64 points (YTD: +10.97%).
2. Industrial Index: The industrial gained 0.42% to close at 4,830.27 points (YTD: +78.09%).
3. Consumer Goods Index: The index lost 0.09% to close at 1,630.13 points (YTD: +45.38%).
4. Oil & Gas Index: It closed flat at 1,294.24 points (YTD: +24.08%).
5. Insurance Index: The index gained 0.57% to close at 384.01 points (YTD: +19.38%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur