Nigerian stock recorded a positive trading session that ended 24th July 2020, as the NSE All-Share Index and Market Capitalization both appreciated by 0.58% WoW to close the week at 24,427.73 and N12.743 trillion respectively.
All other indices finished higher with the exception of NSE-Main Board, NSE Banking, NSE Insurance, NSE AFR Bank Value, NSE AFR Div Yield, NSE MERI Value, NSE Consumer Goods and NSE Oil/Gas Indices which depreciated by 1.04%, 0.62%, 0.80%, 0.38%, 0.69%, 1.45%, 0.38% and 4.67% respectively while NSE ASeM closed flat.
A total turnover of 1.350 billion shares worth N14.433 billion in 16,723 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 1.016 billion shares valued at N7.436 billion that exchanged hands last week in 18,092 deals.
The Financial Services industry (measured by volume) led the activity chart with 847.677 million shares valued at N5.649 billion traded in 9,068 deals; thus contributing 62.77% and 39.14% to the total equity turnover volume and value respectively.
The Conglomerates industry followed with 176.425 million shares worth N821.337 million in 400 deals. The third place was the Consumer Goods industry, with a turnover of 158.022 million shares worth N3.768 billion in 2,563 deals.
Trading in the top three equities namely; FBN Holdings Plc, UACN Plc and United Bank for Africa Plc. (measured by volume) accounted for 434.502 million shares worth N2.408 billion in 2,270 deals, contributing 32.18% and 16.68% to the total equity turnover volume and value respectively.
Twenty-eight (28) equities appreciated in price during the week, higher than twenty-six (26) equities in the previous week. Twenty-five (25) equities depreciated in price, lower than thirty-six (36) equities in the previous week, while one hundred and ten (110) equities remained unchanged, higher than one hundred and one (101) equities recorded in the previous week.
Top gainers
FIDSON HEALTHCARE PLC up 18.11% to close at N3.13
UNITY BANK PLC up 15.56% to close at N0.52
ROYAL EXCHANGE PLC. up 14.81% to close at N0.31
CUSTODIAN INVESTMENT PLC up 14.58% to close at N5.50
JULIUS BERGER NIG. PLC. up 10.00% to close at N17.05
HONEYWELL FLOUR MILL PLC up 8.33% to close at N1.04
MAY & BAKER NIGERIA PLC. up 7.91% to close at N3.00
VITAFOAM NIG PLC. up 7.88% to close at N5.75
NPF MICROFINANCE BANK PLC up 7.58% to close at N1.42
ARDOVA PLC up 7.17% to close at N13.45
Top Losers
PRESTIGE ASSURANCE PLC down14.81% to close at N0.46
INTERNATIONAL BREWERIES PLC. down10.53% to close at N3.40
SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC down 10.00% to close at N347.40
CORNERSTONE INSURANCE PLC down 9.09% to close at N0.50
CAP PLC down 8.23% to close at N18.95
CONSOLIDATED HALLMARK INSURANCE PLC down 8.16% to close at N0.45
LASACO ASSURANCE PLC. down 7.69% to close at N0.24
NEIMETH INTERNATIONAL PHARMACEUTICALS PLC down 6.67% to close at N1.40
BUA CEMENT PLC down 5.91% to close at N39.00
STERLING BANK PLC. down 5.60% to close at N1.18
Outlook
Nigerian bourse against headwinds closed the week on a positive note, despite growing concerns on the resurgence of the rampaging COVID-19 virus, that has continually disrupted the global financial market. This is in addition to Nigeria’s major export, Brent Crude closing downwards at the end of the week, and a rise in Nigeria’s inflation by 12.56%.
Nairametrics, however, envisages, cautious buying of stocks as many institutional investors, including FPIs remain on the sidelines, resulting in low liquidity recorded recently in the Nigerian stock market.
