This week, a total turnover of 1.662 billion shares worth N18.205 billion in 28,791 deals were traded by investors on the floor of the Exchange, compared with last week’s total of 1.012 billion shares valued at N9.892 billion that exchanged hands in 17,023 deals.
- 39 equities appreciated in price during the week, higher than 28 equities in the previous week. 22 equities depreciated in price, lower than 20 equities in the previous week, while 102 equities remained unchanged, lower than 115 equities recorded in the preceding week.
- The Financial Services industry (measured by volume) led the activity chart with 1.385 billion shares valued at N11.813 billion traded in 17,117 deals; thus contributing 83.35% and 64.89% to the total equity turnover volume and value, respectively.
- The Services industry followed with 53.551 million shares worth N128.065 million in 1,003 deals. The third place went to the Consumer Goods industry, with a turnover of 53.444 million shares worth N2.780 billion in 3,607 deals.
- Trading in the top three equities, FBN Holdings Plc, Guaranty Trust Bank, and Zenith Bank Plc, (measured by volume) accounted for 774.294 million shares worth N9.796 billion in 7,516 deals, contributing 46.59% and 53.81% to the total equity turnover volume and value, respectively.
- The NSE (Nigerian Stock Exchange) All-Share Index and Market Capitalization both appreciated by 4.45% to close the week at 24,045.40 and N12.531 trillion, respectively.
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Top 10 gainers for the week
ARDOVA PLC up 32.47% to close at N15.30.
WAPIC INSURANCE PLC up 26.92% to close at N0.33.
NIGERIAN BREW PLC up 25.00% to close at N37.50.
CONSOLIDATED HALLMARK INSURANCE PLC up 20.00% to close at N0.36.
PRESTIGE ASSURANCE PLC up 20.00% to close at N0.60.
UACN PROPERTY DEVELOPMENT COMPANY PLC up 19.48% to close at N0.92.
DANGOTE CEMENT PLC up 15.38% to close at N150.00.
ECOBANK TRANSNATIONAL INCORPORATED up 12.36% to close at N5.00.
ROYAL EXCHANGE PLC up 10.00% to close at N0.22.
CUTIX PLC up 9.92% to close at N1.33.
Top 10 losers for the week
LINKAGE ASSURANCE PLC down 16.98% to close at N0.44.
C & I LEASING PLC down 10.00% to close at N4.50.
MCNICHOLS PLC down 8.70% to close at N0.42.
NEM INSURANCE PLC 2.35 -0.19 -8.09% to close at N2.16.
LAFARGE AFRICA PLC down 6.78% to close at N11.00.
NPF MICROFINANCE BANK PLC down 5.60% to close at N1.18.
WEMA BANK PLC down 5.08% to close at N0.56.
COURTEVILLE BUSINESS SOLUTIONS PLC down 4.76% to close at N0.20.
MAY & BAKER NIGERIA PLC down 4.44% to close at N2.58.
CHAMS PLC down 4.35 to close at N0.22.
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Outlook
Investors saw a recovery in oil demand, with Brent crude surging past $30 per barrel, coupled with the easing of COVID-19 lockdowns in major economic hubs around the world.
This bullish bias has so far pushed Nigeria’s stock market into a positive route, following impressive gains recorded this week.
Some Nigerian stocks show good fundamentals and remain attractive to local investors. However, Nairametrics recommends cautious buying across the local bourse as profit taking gains momentum.
