THE NIGERIAN STOCK EXCHANGE MARKET REPORT FOR MAY 13th – 17th, 2024
Equity Turnover :
Last week on the floor of the Exchange, investors traded a total turnover of 1.652 billion shares worth N42.677 billion in 38,123 deals. This represents a decrease compared to the previous week, where 2.187 billion shares valued at N50.667 billion were exchanged in 45,277 deals.
The Financial Services Industry dominated the activity chart, leading by volume with 979.479 million shares worth N16.647 billion traded in 20,708 deals. This industry contributed 59.30% to the total equity turnover volume and 39.01% to the value. Following the Financial Services Industry, the Conglomerates Industry recorded 239.825 million shares worth N2.879 billion in 2,178 deals. The Consumer Goods Industry came in third, with a turnover of 148.685 million shares valued at N3.525 billion in 4,757 deals.
Among the top equities traded this week were Custodian Investment Plc, Guaranty Trust Holding Company Plc, and Access Holdings Plc. Together, these three equities accounted for 500.343 million shares worth N11.768 billion in 6,551 deals, contributing 30.29% to the total equity turnover volume and 27.57% to the value.
Summary of Price Changes :
Last week, twenty-eight equities appreciated in price, which is lower than the forty equities that appreciated the previous week. Conversely, fifty-one equities depreciated in price, higher than the thirty-seven equities that saw a price drop last week. Meanwhile, seventy-six equities remained unchanged, slightly lower than the seventy-seven recorded in the previous week.
Among the top price gainers, International Energy Insurance Plc led with an opening price of N1.48, closing price of N1.65 and a 11.49 % change in price. Following closely was McNichols Plc, with its price rising from N0.91 to N1.00 with a change in price of 9.89%. Custodian Investment Plc also saw significant gains, opening at N9.30 and closing at N10.20 and 9.68% change.
On the flip side, the top losers included PZ Cussons Nigeria Plc, NEM Insurance Plc, and Eterna Plc. PZ Cussons Nigeria Plc’s price fell from N27.75 to N21.60, marking a -22.16% change. NEM Insurance Plc dropped from N10.35 to N8.45, a -18.36% change, and Eterna Plc decreased from N13.65 to N11.15, reflecting a -18.32% change.
Conclusion :
The week saw a mixed performance in the equities market with notable activity in the Financial Services Industry. While the number of gainers decreased, there was a significant increase in the number of equities that depreciated in price. Investors remain active, focusing on top equities and navigating the fluctuations in the market. As the market continues to evolve, these dynamics highlight the ever-changing landscape of equity trading and investment.
Source: Nigeria Exchange Group
