The week on the Nigerian Stock Exchange enjoyed a run of 4 straight days of gains, as the Stock Market Index appreciated on each of the trading days. There was no single trading session that saw gains above 1.00%, the market capitalization grew by N219.73bn.
The market was open for four trading days in the week, as the Federal Government of Nigeria declared Friday 1st May 2020 a Public Holiday to commemorate the 2020 Workers Day Celebration.
A total turnover of 1.012 billion shares worth N9.892 billion in 17,023 deals were traded in the week in review by investors on the floor of the Exchange, in contrast to a total of 1.195 billion shares valued at N13.979 billion that exchanged hands in 20,591 deals in the preceding week.
The Financial Services industry (measured by volume) led the activity chart with 809.957 million shares valued at N5.666 billion traded in 9,533 deals; thus contributing 80.06% and 57.28% to the total equity turnover volume and value respectively.
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The Industrial Goods industry followed with 47.884 million shares worth N1.681 billion in 1,920 deals. The third place was the Conglomerates industry, with a turnover of 46.627 million shares worth N86.349 million in 550 deals.
Trading in the Top Three Equities namely, FBN Holdings Plc, United Bank for Africa Plc and Access Bank Plc. (measured by volume) accounted for 414.588 million shares worth N2.290 billion in 3,189 deals, contributing 40.98% and 23.15% to the total equity turnover volume and value respectively.
The NSE All-Share Index (ASI): An index is an imaginary portfolio of securities representing a particular market or a proportion of the market.
Weekly performance %: 1.87
MTD Performance %: 8.08
QTD Performance %: 8.08
YTD Performance %: (14.24)
NSE Insurance Index:
Weekly performance %: 1.27
MTD Performance %: 2.08
QTD Performance %: 2.08
YTD Performance %: (3.13)
NSE Oil & Gas Index:
Weekly performance %: 1.70
MTD Performance %: (2.84)
QTD Performance %: (2.84)
YTD Performance %: (20.34)
NSE Banking Index:
Weekly performance %: 3.83
MTD Performance %: 15.14
QTD Performance %: 15.14
YTD Performance %: (23.90)
NSE Consumer Goods Index:
Weekly performance %: (1.42)
MTD Performance %: 14.02
QTD Performance %: 14.02
YTD Performance %: (37.40)
NSE Industrial Goods Index:
Weekly performance %: (0.47)
MTD Performance %: (2.66)
QTD Performance %: (2.66)
YTD Performance %: (5.86)
Top 5 Price Gainers
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Top 5 Price Decliners
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In all, 28 equities appreciated in price during the week in review, higher than 25 equities in the preceding week. 20 equities depreciated in price, lower than 33 equities in the preceding week, while 115 equities remained unchanged, higher than 105 equities recorded in the preceding week.
There has been some good news for the country and its economy in the week in review, as Oil Prices rose from its historic low prices. On the bad side, the number of confirmed coronavirus cases has also been rising, with the epicenter seemly shifting from Lagos to Kano.
- Read more: Oil Prices Maintain recovery as Economic activities resumes in some countries
- President Buhari approves partial lifting of lockdown in Lagos, FCT and Ogun While Kano is on Full Lockdown
The President in a broadcast in the week ordered the partial lifting of the travel restrictions in Lagos, Ogun State and Abuja, while a dusk to dawn curfew was imposed across the country, with Kano being placed on full lockdown.
The first quarter earnings result being released by companies does not show any significant impact as a result of the virus so far, we expect to see the impact reflecting in their earnings from the Half-Year reports.
The uncertainties persist in our view; hence we maintain our negative outlook to the market in the short to medium term.