The Nigerian equities market maintained its bullish performance during the week as the All-Share index gained 0.55% in the week ended 10th June 2022. This is following the 2.18% decline recorded in the previous week, triggered by the MPC resolutions which saw MPR increase by 150 bps, hence resulting in profit-taking in the stock market, to take positions in higher yield instruments.
This is according to the information contained in the weekly stock market report, released by the Nigerian Exchange Group.
The benchmark index, ASI appreciated by 0.55% from 52,908.24 points recorded as of the end of last week to close the week at 53,201.38 index points, while the market capitalization followed suit to close at N28.68 trillion.
This brings the month-to-date performance of the Nigerian stock market to +0.40% and a year-to-date gain of 24.55%.
Equity market performance
A total of 1.83 billion shares valued at N19.49 billion were traded during the week across 21,723 deals on the floor of the Exchange. This is lower than the 28.74 billion units of shares valued at N209.06 billion that exchanged hands in the previous week in 23,688 deals.
Similar to the previous week, the Financial Services Industry led the activity chart in terms of volume of shares traded with 1.17 billion shares valued at N12.49 billion traded in 10,657 deals; hereby contributing 64.07% and 64.04% to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 419.10 million shares worth N607.70 million in 1,095 deals, while the Consumer Goods Industry, stood in third place with a turnover of 69.68 million shares worth N2.75 billion in 3,158 deals.
Trading in the top three equities by volume namely FBNH Plc, Transcorp Plc, and United Bank for Africa Plc, accounted for 1.14 billion shares worth N8.32 billion in 2,906 deals, contributing 62.08% and 42.70% to the total equity turnover volume and value respectively.
Similarly, all other indices finished higher with the exception of NGX-Main Board Index, NGX Banking Index, NGX Pension Index, NGX Insurance Index, NGX-AFR Bank Value Index, NGX AFR Div Yield Index, NGX MERI Growth Index, NGX Consumer Goods Index, NGX Growth Index and NGX Sovereign Bond Index.
- GSPECS up +10.00% to close at N2.75
- CONOIL up +9.97% to close at N32.00
- FIDSON up +9.59% to close at N12.00
- UPL up +9.43% to close at N2.90
- PHARMADEKO up +9.37% to close at N1.75
- IMG down – 16.82% to close at N9.15
- ETI down –11.20% to close at N11.10
- MRS down –9.76% to close at N14.80
- ETRANZACT down –9.67% to close at N2.71
- TIP down –9.09% to close at N0.40
Twenty-nine (29) equities appreciated in price during the week, lower than Thirty-six (36) equities in the previous week. Thirty-six (36) equities depreciated in price, lower than forty-five (45) equities in the previous week, while ninety-one (91) equities remained unchanged higher than seventy-five (75) equities recorded in the previous week