THE NIGERIAN STOCK EXCHANGE MARKET REPORT FOR JULY 15th – 19th, 2024
Equity Turnover :
Last week on the floor of the Exchange, investors traded a total turnover of 2.827 billion shares worth N42.366 billion in 44,277 deals. This represents a decrease in value compared to the previous week, where 2.765 billion shares valued at N85.230 billion were exchanged in 40,796 deals.
The Financial Services Industry dominated the activity chart, leading by volume with 2.179 billion shares worth N30.667 billion traded in 25,260 deals. This industry contributed 77.08% to the total equity turnover volume and 72.38% to the value. Following the Financial Services Industry, the Industrial Goods Industry recorded 246.921 million shares worth N2.039 billion in 2,068 deals. The Oil and Gas Industry came in third, with a turnover of 107.218 million shares valued at N1.704 billion in 3,128 deals.
Among the top equities traded last week were Jaiz Bank Plc, Cutix Plc and FCMB Group Plc. Together, these three equities accounted for 1.140 billion shares worth N4.632 billion in 2,701 deals, contributing 40.32% to the total equity turnover volume and 10.93% to the value.
Summary of Price Changes :
Last week, Thirty-seven (37) equities appreciated in price, which is higher than the thirty- four (34) equities that appreciated the previous week. Conversely, Thirty-four (34) equities depreciated in price, lower than thirty-eight (38) equities that saw a price drop the previous week. Meanwhile, eighty (80) equities remained unchanged, lower than the eighty-two (82) recorded in the previous week.
Among the top price gainers, United Capital Plc led with an opening price of N28.40, closing price of N40.55 and a 42.78 % change in price. Following closely was Africa Prudential Plc, with its price rising from N7.40 to N9.90 with a change in price of 33.78%. Cutix Plc also saw significant gains, opening at N4.62 and closing at N5.99 and 29.65% change.
On the flip side, the top losers included Linkage Assurance Plc, Veritas Kapital Assurance Plc, and Vitafoam Nig Plc. Linkage Assurance Plc price fell from N1.14 to N0.86, marking a -24.56% change. Veritas Kapital Assurance Plc dropped from N1.20 to N1.06, with a -11.67 change, and Vitafoam Nig Plc decreased from N21.20 to N19.00, reflecting a -10.38% 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
