THE NIGERIAN STOCK EXCHANGE MARKET REPORT FOR JUNE 24th – 28th, 2024
Equity Turnover :
Last week on the floor of the Exchange, investors traded a total turnover of 2.651 billion shares worth N49.976 billion in 41,610 deals. This represents a decrease in value compared to the previous week, where 3.301 billion shares valued at N53.157 billion were exchanged in 27,536 deals.
The Financial Services Industry dominated the activity chart, leading by volume with 1.847 billion shares worth N30.455 billion traded in 21,899 deals. This industry contributed 69.67% to the total equity turnover volume and 60.94% to the value. Following the Financial Services Industry, the Conglomerates Industry recorded 272.398 million shares worth N3.546 billion in 2,165 deals. The Oil and Gas Industry came in third, with a turnover of 112.800 million shares valued at N2.259 billion in 2,748 deals.
Among the top equities traded last week were FBN Holdings Plc, Transnational Corporation Plc,
and Access Holdings Plc. Together, these three equities accounted for 1.032 billion shares worth N19.799 billion in 6,083 deals, contributing 38.92% to the total equity turnover volume and 39.62% to the value.
Summary of Price Changes :
Last week, Forty-eight (48) equities appreciated in price, which is lower than the fifty- three (53) equities that appreciated the previous week. Conversely, Thirty-four (34) equities depreciated in price, higher than the twenty- five (25) equities that saw a price drop the previous week. Meanwhile, seventy-two (72) equities remained unchanged, lower than the seventy- six (76) recorded in the previous week.
Among the top price gainers, CWG Plc led with an opening price of N5.50, closing price of N7.95 and a 44.55 % change in price. Following closely was FTN Cocoa Processor Plc, with its price rising from N1.34 to N1.64 with a change in price of 22.39%. United Capital Plc also saw significant gains, opening at N21.75 and closing at N26.50 and 21.84% change.
On the flip side, the top losers included JAIZ Bank Plc, DAAR Communication Plc, and Champion Brew. Plc. JAIZ Bank Plc price fell from N2.20 to N1.95, marking a -11.36% change. DAAR Communication Plc dropped from N0.57 to N0.51, with a -10.53% change, and Champion Brew. Plc decreased from N3.91 to N3.50, reflecting a -10.49% 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
