December 5, 2023

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Neimeth Leads Healthcare Industry to Topple Banking in NGX Trading

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CEM REPORT, MARKET | The healthcare industry has exhibited a sprang in its trading at the floor of the Nigerian Exchange to topple the banking industry that have held the dominance at the floor over a span of time.

In the week ended, the Healthcare Industry led the activity chart at the NGX floor with 1.086 billion shares valued at N1.627 billion traded in 267 deals; thus contributing 64.32% and 14.70% to the total equity turnover volume and value respectively.

Trading in Neimeth International Pharmaceuticals Plc led the healthcare industry to the top traded having traded 1.068 billion shares on the first trading day. Neimeth capped the week volume with 14.033 million shares at the close of trading on Friday.

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Neimeth International Pharma shares have seen a build-up of trading volume to become the second most traded stock on the Nigerian Stock Exchange over the past three months (Dec 23, 2022 – Mar 24, 2023). The shares have traded a total volume of 1.11 billion shares—in 582 deals—valued at NGN 1.65 billion over the period, with an average of 17.6 million traded shares per session.

Neimeth, listed on the Nigerian Stock Exchange (NGX) since September 21st, 1979, began 2023 with a share price of N1.43 and has since gained 3.5% on that price valuation, ranking it 63rd on the NGX in terms of year-to-date performance.

Trading on the share closed at N1.48 on Friday becoming the 80th most valuable stock on the NGX with a market capitalization of N6.32 billion, which makes about 0.021% of the Nigerian Stock Exchange equity market.

A total turnover of 1.689 billion shares worth N11.066 billion in 14,019 deals was traded in the week in contrast to a total of 853.745 million shares valued at N11.841 billion that exchanged hands last week in 18,543 deals.

The NGX All-Share Index and Market Capitalization depreciated by 0.04% to close the week at 54,892.53 and N29.903 trillion respectively.

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All other indices finished higher with the exception of NGX Main Board, NGX 30, NGX Insurance, NGX MERI Growth, NGX Consumer Goods and NGX Industrial Goods which depreciated by 0.30%, 0.16%, 0.53%, 0.58%, 0.74%, and 0.49% respectively while the NGX ASeM, NGX Oil and Gas, NGX Growth and NGX Sovereign Bond indices closed flat.

Twenty-eight (28) equities appreciated in price during the week higher than nineteen (19) equities in the previous week. Twenty-seven (27) equities depreciated in price lower than forty-seven (47) in the previous week, while one hundred and two (102) equities remained unchanged, higher than ninety-one (91) equities recorded in the previous week.

Sunu Assurances Nigeria Plc, Lasaco Assurance Plc. and NPF Microfinance Bank Plc led other ten gainers, while NCR (Nigeria) Plc, Ikeja Hotel Plc and International Breweries Plc led other ten decliners .

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