THE NIGERIAN STOCK EXCHANGE MARKET REPORT FOR MAY 20th – 24th, 2024
Equity Turnover :
Last week on the floor of the Exchange, investors traded a total turnover of 1.986 billion shares worth N40.715 billion in 38,487 deals. This represents a decrease in value compared to the previous week, where 1.652 billion shares valued at N42.677 billion were exchanged in 38,123 deals.
The Financial Services Industry dominated the activity chart, leading by volume with 1.577 billion shares worth N30.359 billion traded in 20,697 deals. This industry contributed 79.41% to the total equity turnover volume and 74.56% to the value. Following the Financial Services Industry, the Conglomerates Industry recorded 125.342 million shares worth N1.387 billion in 2,283 deals. The Consumer Goods Industry came in third, with a turnover of 77.327 million shares valued at N2.446 billion in 4,916 deals.
Among the top equities traded this week were Ecobank Transnational Incorporated Plc, Access Holdings Plc and United Bank for Africa Plc. Together, these three equities accounted for 1.006 billion shares worth N20.115 billion in 6,849 deals, contributing 50.67% to the total equity turnover volume and 49.40% to the value.
Summary of Price Changes :
Last week, twenty-four equities appreciated in price, which is lower than the twenty-eight equities that appreciated the previous week. Conversely, fifty-three equities depreciated in price, higher than the fifty-one equities that saw a price drop last week. Meanwhile, seventy-seven equities remained unchanged, slightly higher than the seventy-six recorded in the previous week.
Among the top price gainers, Berger Paints Plc led with an opening price of N12.35, closing price of N14.90 and a 20.65 % change in price. Following closely was Rengency Assurance Plc, with its price rising from N0.31 to N0.37 with a change in price of 19.35%. Cutix Plc also saw significant gains, opening at N3.04 and closing at N3.35 and 10.20% change.
On the flip side, the top losers included Deap Capital Management & Trust Plc, FTN Cocoa Processors Plc, and Transnational Corporation Plc. Deap Capital Management & Trust Plc price fell from N0.53 to N0.40, marking a -24.53% change. FTN Cocoa Processors Plc dropped from N1.44 to N1.20, with a -16.67% change, and Transnational Corporation Plc decreased from N11.95 to N10.50, reflecting a -12.13% 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
