THE NIGERIAN STOCK EXCHANGE MARKET REPORT FOR JULY 22th – 26th, 2024
Equity Turnover :
Last week on the floor of the Exchange, investors traded a total turnover of 3.557 billion shares worth N47.220billion in 42,871 deals. This represents an increase in value compared to the previous week, where 2.827 billion shares valued at N42.366 billion were exchanged in 44,277 deals.
The Financial Services Industry dominated the activity chart, leading by volume with 2.011 billion shares worth N25.783 billion traded in 24,350 deals. This industry contributed 56.52% to the total equity turnover volume and 54.60% to the value. Following the Financial Services Industry, the Services Industry recorded 1.020 billion shares worth N3.216 billion in 1,846 deals. The Agriculture Industry came in third, with a turnover of 168.028 million shares valued at N647.859 million in 1,473 deals.
Among the top equities traded last week were Tourist Company of Nigeria Plc, FCMB Group Plc
and Abbey Mortgage Bank Plc. Together, these three equities accounted for 1.876 billion shares worth N8.511 billion in 935 deals, contributing 52.73% to the total equity turnover volume and 18.02% to the value.
Summary of Price Changes :
Last week, Twenty (20) equities appreciated in price, which is lower than the thirty-seven (37) equities that appreciated the previous week. Conversely, Forty-seven (47) equities depreciated in price, higher than thirty-four (34) equities that saw a price drop the previous week. Meanwhile, eighty-four (84) equities remained unchanged, higher than the eighty (80) recorded in the previous week.
Among the top price gainers, Sovereign Trust Insurance PLC led with an opening price of N0.49, closing price of N0.56 and a 14.29 % change in price. Following closely was Coronation Insurance Plc, with its price rising from N0.76 to N0.86 with a change in price of 13.16%. Neimeth International Pharmaceutical Plc also saw significant gains, opening at N1.74 and closing at N1.96 and 12.64% change.
On the flip side, the top losers included Secure Electronic Technology Plc, Omatek Ventures Plc, and CUTIX Plc. Secure Electronic Technology Plc price fell from N0.57 to N0.42, marking a -26.32% change. Omatek Ventures Plc dropped from N0.74 to N0.63, with a -14.86% change, and CUTIX Plc decreased from N5.99 to N5.15, reflecting a -14.02% 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
