THE NIGERIAN STOCK EXCHANGE MARKET REPORT FOR MAY 27th – 31th, 2024
Equity Turnover :
Last week on the floor of the Exchange, investors traded a total turnover of 2.189 billion shares worth N31.303 billion in 39,362 deals. This represents a decrease in value compared to the previous week, where 1.986 billion shares valued at N40.715 billion were exchanged in 38,4873 deals.
The Financial Services Industry dominated the activity chart, leading by volume with 1.914 billion shares worth N23.922 billion traded in 21,717 deals. This industry contributed 87.41% to the total equity turnover volume and 76.42% to the value. Following the Financial Services Industry, the Oil & Gas Industry recorded 55.349 million shares worth N3.093 billion in 2,109 deals. The Agriculture Industry came in third, with a turnover of 45.085 million shares valued at N377.619 million in 1,615 deals.
Among the top equities traded this week were Abbey Mortgage Bank Plc, Access Holdings Plc and Zenith Bank Plc. Together, these three equities accounted for 1.129 billion shares worth N14.914 billion in 6,494 deals, contributing 51.57% to the total equity turnover volume and 47.64% to the value.
Summary of Price Changes :
Last week, forty-five equities appreciated in price, which is higher than the twenty-four equities that appreciated the previous week. Conversely, twenty-five equities depreciated in price, lower than the fifty-three equities that saw a price drop last week. Meanwhile, eighty-four equities remained unchanged, slightly higher than the seventy-six recorded in the previous week.
Among the top price gainers, Fidelity Bank Plc led with an opening price of N8.30, closing price of N10.20 and a 22.89% change in price. Following closely was Dangote Sugar Refinery Plc, with its price rising from N39.00 to N47.00 with a change in price of 20.51%. Nascon Allied Industries Plc also saw significant gains, opening at N34.00 and closing at N40.85 and 20.15% change.
On the flip side, the top losers included C & I Leasing Plc, NPF Microfinance Bank Plc, and FTN Cocoa Processors Plc. C & I Leasing Plc price fell from N3.44 to N2.97, marking a -13.66% change. NPF Microfinance Bank Plc dropped from N1.80 to N1.60, with a -11.11% change, and Transnational Corporation Plc decreased from N1.20 to N1.10, reflecting a -8.33% 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 increased, there was a significant decrease 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
