Nigerian stock market daily report: Spectacular week of trading ends with a bang

A spectacular week of trading on the Nigerian Exchange has ended with a bang, as the equities market gained 2.11% to round off the first week of trading in 2024.

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Investors’ wealth grew by almost a billion naira, as the equities market capitalization continues hitting new heights.

The All-Share Index (NGX ASI) and the market capitalization both rose by 2.11% to end the week at 79,664.66 points and ₦43.59 billion respectively.

This is the fourth consecutive day of trading that has closed positively, and it rounds off the week of no loses.

Activity level

The activity level was mixed as volume of shares traded decreased by 9.30%, while the value of shares traded and the no of deals done increased by 25.02% and 0.33% respectively.

By the end of trading on Friday, 892.67 million shares valued at N14.32 billion has exchanged hands in 13,019 deals.

Shares of United Bank for Africa (NGX: UBA), Fidelity Bank Plc (NGX: FIDELITYBK) and Access Holdings Plc (NGX: ACCESSCORP) were the most traded by volume with 45.98 million, 92.66 million and 28.17 million shares respectively exchanging hands.

Shares of Nestle Nigeria Plc (NGX: NESTLE), United Bank for Africa (NGX: UBA), Fidelity Bank Plc (NGX: FIDELITYBK) were the most traded by value, with their shares worth ₦1.66 billion, ₦1.31 billion and ₦1.30 billion respectively being traded on Thursday.

Top Gainers and Losers

Investor sentiment remained strong at 1.6x as 31 stocks advanced against 21 stocks that declined, albeit weaker than the 2.1x strength recorded in the preceding session.

The top five gainers on Thursday were;

Nigerian Aviation Handling Company Plc (NGX: NAHCO): It gained 10% to close at ₦28.60.
UPDC Plc (NGX: UPDC): It gained 10% to close at ₦1.65.
Wema Bank Plc (NGX: WEMABANK): It gained 9.99% to close at N7.38
Transnational Corporation Plc (NGX: TRANSCORP): It gained 9.99% to close at ₦12.66
Transcorp Hotels Plc (NGX: TRANSCOHOT): It gained 9.92% to close at ₦84.85.

The top five losers on Wednesday were;

Multiverse Mining And Exploration Plc (NGX: MULTIVERSE): It lost 9.99% to close at ₦18.20.
SCOA Nig Plc (NGX: SCOA): It lost 9.94% to close at ₦1.63.
Abbey Mortgage Bank Plc (NGX: ABBEYBDS): It lost 9.86% to close at ₦2.65.
UPDC Real Estate Investment Trust (NGX: UPDCREIT): It lost 8.62% to close at ₦2.12.
Coronation Insurance Plc (NGX: WAPIC): It lost 8.8.97% to close at ₦0.89.

Four of the indices under our watch advanced on Friday, with the oil and gas index closing flat.

Banking Index: The index gained 3.62% to close at 989.53 points. Week to Date, the index has advanced by 10.29%.
Industrial Index: The industrial index gained 1.10% to close at 2,809.49 points. Week to Date, the index has advanced by 3.58%.
Consumer Goods Index: The index advanced by 1.02% to settle at 1,170.64 points. Week to Date, the index has advanced by 4.40%.
Oil & Gas Index: It remained flat at 1,074.37 points. Week to Date, the index has advanced by 3.00%.
Insurance Index: it gained by 4.39% to close at 366.96 points. Week to Date, the index has advanced by 14.08%.