The Nigerian Exchange All-Share Index depreciated by 2.45% in the week ended 9th February, 2024, closing at 101,858.37 points. The market capitalization saw ₦1.42 trillion chalked off its value, as it depreciated by 2.49% to settle at ₦55.73 trillion.
Meyer Plc (NGX: MEYER) led the gainers table with +60.70%, while Eterna Plc (NGX: ETERNA) led the losers table wit -18.78%.
Also read; How to recover unclaimed dividends in Nigeria
In the week in review, the shares of GlaxoSmithKline Consumer Nigeria Plc was delisted from the Nigerian Exchange. The entire issued share capital of GSK were on Monday, 5 February 2024, delisted from the Daily Official List of NGX.
A total turnover of 2.478 billion shares worth N47.856 billion in 54,982 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 3.893 billion shares valued at N95.147 billion that exchanged hands last week in 69,117 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.687 billion shares valued at N28.514 billion traded in 25,751 deals; thus contributing 68.10% and 59.58% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 210.272 million shares worth N2.988 billion in 4,419 deals. The third place was the Oil and Gas Industry, with a turnover of 203.777 million shares worth N2.139 billion in 4,544 deals.
Trading in the top three equities namely FBN Holdings Plc (NGX: FBNH), Transnational Corporation Plc (NGX: TRANSCORP) and Jaiz Bank Plc (NGX: JAIZBANK) (measured by volume) accounted for 732.804 million shares worth N13.705 billion in 7,040 deals, contributing 29.57% and 28.64% to the total equity turnover volume and value respectively.
All the five indices under our watch depreciated in the week, with a -6.86% decline by the Banking Index being the biggest loss on the day.
The YTD performance of Indices under our watch at the end of the week in review is as below;
- NGX Banking Index: 1.28%
- NGX Industrial Goods Index: 100.23%
- NGX Consumer Goods Index: 31.83%
- NGX Oil/Gas Index: 19.52%
- NGX Insurance Index: +27.92%
Twenty (20) equities appreciated in price during the week lower than twenty-seven (27) equities in the previous week. Sixty-eight (68) equities depreciated in price higher than sixty-four (64) in the previous week, while sixty-six (66) equities remained unchanged, higher than sixty-four (64) recorded in the previous week.
Top 5 Price Gainers
- Meyer Plc (NGX: MEYER): It gained 60.70% to close at ₦6.91.
- Juli Plc (NGX: JULI): It gained 44.29% to close at ₦1.01.
- Geregu Power Plc (NGX: GEREGU): it gained 19.00% to close at ₦675.90.
- Cornerstone Insurance Plc (NGX: CORNERST): It gained 17.37% to close at ₦2.23.
- May & Baker Plc (NGX: MAYBAKER): it gained 11.75% to close at ₦7.04.
Top 5 Price Decliners
- Eterna Plc (NGX: ETERNA): It lost 18.78% to close at ₦17.95.
- Abbey Mortgage Bank Plc (NGX: ABBEYBDS): It lost 18.39% to close at ₦2.44.
- Unity Bank Plc (NGX: UNITYBNK): It lost 17.79% to close at ₦2.31.
- Mutual Benefit Assurance Plc (NGX: MBENEFIT): It lost 10.00% to close at ₦0.61.
- Sterling Financial Holdings Company Plc (NGX: STERLINGNG): It lost 15.45% to close at ₦5.58.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
