THE NIGERIAN STOCK EXCHANGE MARKET REPORT FOR JUNE 10th – 14th, 2024
Equity Turnover :
Last week, the market open on the floor of the Exchange for four days, due a national public holiday(Democracy Day). Investors traded a total turnover of 2.633 billion shares worth N43.652 billion in 33,709 deals. This represents an increase in value compared to the previous week, where 1.703 billion shares valued at N30.495 billion were exchanged in 37,765 deals.
The Financial Services Industry dominated the activity chart, leading by volume and value with 2.176 billion shares worth N31.741 billion traded in 17,295 deals. This industry contributed 82.64% to the total equity turnover volume and 72.72% to the value. Following the Financial Services Industry, The Consumer Goods Industry recorded 176.983 million shares worth N5.309 billion in 3,785 deals. The Oil & Gas Industry came in third, with a turnover of 71.184 million shares valued at N3.906 billion in 2,648 deals.
Among the top equities traded this week were Fidelity Bank Plc, Access Holdings Plc and Zenith Bank Plc. Together, these three equities accounted for 1.351 billion shares worth N20.222 billion in 6,631 deals, contributing 51.31% to the total equity turnover volume and 46.33% to the value.
Summary of Price Changes :
Last week, fifty-one equities appreciated in price, which is higher than the thirty-five(35) equities that appreciated the previous week. Conversely, twenty-four(24) equities depreciated in price, lower than the fifty-seven(57) equities that saw a price drop in the previous week. Meanwhile, seventy-nine(79) equities remained unchanged, slightly lower than the eighty-two(82) recorded in the previous week.
Among the top price gainers, Cutix Plc. led with an opening price of N3.12, closing price of N4.00 and a 28.21% change in price. Following closely was Regency Assurance Plc, with its price rising from N0.38 to N0.47 with a change in price of 23.68%. Chams Holding Company Plc also saw significant gains, opening at N1.54 and closing at N1.90 and 23.38% change.
On the flip side, the top losers included DAAR Communication Plc, C & I Leasing Plc, and Custodian Investment Plc. DAAR Communication Plc price fell from N0.63 to N0.52, marking a -17.46% change. C & I Leasing Plc dropped from N2.99 to N2.99, with a -14.72% change, and Custodian Investment Plc decreased from N10.50 to N9.35, reflecting a -10.95% 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
