June 13, 2024

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The Market remained bearish in most trading days of the week

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Trading in the week ended Friday 14th performed lower than the previous week remaining bearish in most trading days.  The market was characterized by persistent sell-off on market bellwether stocks

The weekly report by the Nigerian Stock Exchange shows that, all market indices with the exception of NSE AFR Div Yield and NSE Industrial Goods indices depreciated. The All-Share Index and Market Capitalization both depreciated by 1.11% to close the week at 27,755.87and N14.456trillion respectively.

A total turnover of 912.175 million shares worth N12.126billion in 17,083deals were traded during the week by investors on the floor of the Exchange, in contrast to a total of1.478billionshares valued at N20.295 billion that exchanged hands previous week in 23,263deals.


The Financial Services industry (measured by volume) led the activity chart with 624.219million shares valued at N7.129billion traded in 9,640deals; thus contributing 68.43% and 58.79% to the total equity turnover volume and value respectively.

The Conglomerates followed with 93.204million shares worth N452.093million in 861deals. The third place was Oil and Gas industry, with a turnover of 59.267million shares worth N124.638million in 1,254deals.

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Trading in the Top Three Equities namely, Zenith Bank Plc, Guaranty Trust Bank Plc and United Bank for Africa Plc. (measured by volume) accounted for 304.089million shares worth N5.788billion in 4,290deals, contributing 33.34% and 47.73% to the total equity turnover volume and value respectively.

Nineteen(19) equities appreciated in price during the week, higher than fifteen (15)equities in the previous week. Thirty-five(35) equities depreciated in price, lower than forty-nine(49)equities in the previous week, while one hundred and nine (109) equities remained unchanged, higher than ninety-nine (99)equities recorded in the preceding week.

Leading the top 10 gainers is Livestock feeds plc which gained 0.10 to close at 0.70 naira per share. Other gainers United Capital Plc, Trans-Nationwide Express Plc and Learn Africa Plc which gained 0.39, 0.09 and 0.11 respectively. Also occupying the gainers chart are Prestige Assurance Plc (0.05), Updc Real Estate Investment Trust (0.25), U A C N Plc. (0.55), Courteville Business Solutions Plc (0.01), University Press Plc. (0.05) and Africa Prudential Plc (0.18)

On the Losers side we have Linkage Assurance Plc topping the list which lost 0.16. Others are Skyway Aviation Handling Company Plc (0.87), Guinness Nig Plc (5.00), Vitafoam Nig Plc. (0.66) Nestle Nigeria Plc. (138.00) Neimeth International Pharmaceuticals Plc (0.05) MRS Oil Nigeria Plc. (1.50) Chams Plc (9.68), Japaul Oil & Maritime Services Plc (0.02) and International Breweries Plc. (0.75)

Talking about Bonds, a total of 23,923 units of Federal Government Bonds valued at N28.986 million were traded this week in 22 deals, compared with a total of 55,246 units valued at N63.094 million transacted last week in 15 deals.

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