THE NIGERIAN STOCK EXCHANGE MARKET REPORT FOR JULY 1st – 5th, 2024
Equity Turnover :
Last week on the floor of the Exchange, investors traded a total turnover of 2.259 billion shares worth N31.166 billion in 42,851 deals. This represents a decrease in value compared to the previous week, where 2.651 billion shares valued at N49.976 billion were exchanged in 41,610 deals.
The Financial Services Industry dominated the activity chart, leading by volume with 1.801 billion shares worth N22.030 billion traded in 23,112 deals. This industry contributed 79.75%to the total equity turnover volume and 70.69% to the value. Following the Financial Services Industry, the Oil and Gas Industry recorded 121.001 million shares worth N1.771 billion in 3,124 deals. The Conglomerates Industry came in third, with a turnover of 90.713 million shares valued at N1.081 billion in 2,277 deals.
Among the top equities traded last week were Fidelity Bank Plc, Universal Insurance Plc and
Guaranty Trust Holding Company Plc. Together, these three equities accounted for 909.821 million shares worth N12.057 billion in 4,798 deals, contributing 40.28% to the total equity turnover volume and 38.69% to the value.
Summary of Price Changes :
Last week, Thirty-seven (37) equities appreciated in price, which is lower than the forty-eight (48) equities that appreciated the previous week. Conversely, Forty-five (45) equities depreciated in price, higher than thirty-four (34) equities that saw a price drop the previous week. Meanwhile, seventy-two (72) equities remained unchanged, same as the seventy- two (72) recorded in the previous week.
Among the top price gainers, Veristal Kapital Assurance Plc led with an opening price of N0.92, closing price of N1.15 and a 25.00 % change in price. Following closely was Conoil Plc, with its price rising from N105.00 to N126.50 with a change in price of 20.48%. JAIZ Bank Plc also saw significant gains, opening at N1.95 and closing at N2.33 and 19.49% change.
On the flip side, the top losers included UPDC Real Estate Investment Trust, IKEJA Hotel Plc, and LASACO Assurance Plc. UPDC Real Estate Investment Trust price fell from N5.45 to N4.50, marking a -17.43% change. IKEJA Hotel Plc dropped from N7.90 to N6.95, with a -12.03% change, and LASACO Assurance Plc decreased from N2.55 to N2.55, reflecting a -9.80% 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 value. 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
