Nigerian bourse against all odds remained resilient last week, as it recorded impressive gains. The Nigerian All-Share Index and Market Capitalization both appreciated by 0.13% to close the week at 28,697.06 and N14.999 trillion respectively.
- A total turnover of 1.505 billion shares worth N19.668 billion in 20,552 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.955 billion shares valued at N22.978 billion that exchanged hands last week in 22,844 deals.
- The Financial Services industry (measured by volume) led the activity chart with 1.196 billion shares valued at N14.950 billion traded in 11,318 deals; thus contributing 79.47% and 76.01%to the total equity turnover volume and value respectively.
- The Conglomerates Industry followed with 97.167 million shares worth N269.045 million in 516 deals. The third place was the Consumer Goods, with a turnover of 77.588 million shares worth N1.928 billion in 3,461 deals.
- Trading in the top three equities namely Guaranty Trust Bank Plc, Access Bank Plc, and United Bank for Africa Plc (measured by volume) accounted for 633.527 million shares worth N10.006 billion in 3,887 deals, contributing 42.08% and 50.87% to the total equity turnover volume and value respectively.
- Twenty-eight (28) equities appreciated at price during the week, lower than thirty-five (35) equities in the previous week. Thirty-five (35) equities depreciated in price, higher than twenty-three (23) equities in the previous week, while ninety-nine (99) equities remained unchanged, lower than one hundred and four (104) recorded in the previous week.
Top gainers
- INTERNATIONAL BREWERIES PLC. up 18.20% to close N6.30
- CUTIX PLC. up 17.28% to close N1.90
- NASCON ALLIED INDUSTRIES PLC up 10.00% to close N14.30
- JAPAUL OIL & MARITIME SERVICES PLC up 10.00% to close N0.22
- IKEJA HOTEL PLC up 9.90% to close N1.11
- CONOIL PLC up 9.72% to close N15.80
- NEIMETH INTERNATIONAL PHARMACEUTICALS PLC up 6.49% to close N1.97
- LIVESTOCK FEEDS PLC. up 6.35% to close N0.67
- FIDSON HEALTHCARE PLC up 6.29% to close N3.72
- FLOUR MILLS NIG. PLC. up 6.24% to close N23.00
Top losers
- N NIG. FLOUR MILLS PLC. down 9.89% to close N4.19
- LINKAGE ASSURANCE PLC down 9.09% to close N0.40
- ETERNA PLC. down 8.98% to close N4.46
- REGENCY ASSURANCE PLC down 8.33% to close N0.22
- ROYAL EXCHANGE PLC. down 8.00% to close N0.23
- MAY & BAKER NIGERIA PLC. down 7.69% to close N3.00
- LASACO ASSURANCE PLC. down 7.14% to close N0.26
- ACADEMY PRESS PLC. down 6.90% to close N0.27
- CADBURY NIGERIA PLC. down 6.83% to close N7.50
- HONEYWELL FLOUR MILL PLC down 6.19% to close N0.91
Outlook
Nigerian Stocks remained resilient W/W amid EndSARS protest, falling oil prices W/W, and most importantly looting and destruction of properties carried out by hoodlums at Nigeria’s major economic hubs
- Sequel to the carnage recorded at Nigerian urban areas the first two trading days of the week ended flat, as investors remained on the sidelines, and mid-week sessions saw investors losing over N100 billion.
- However, the bulls strengthened their resolve and overturned previous losses recorded as many NSE30 Stocks exhibit good fundamentals and remained undervalued with respect to other Sub Sahara listed stocks, thereby leading to impressive gains across the market spectrum on Thursday and Friday’s trading sessions.
- That said, Investor sentiments as measured by market breadth remains impressive amid relatively thin market liquidity that has become the norm since the COVID-19 pandemic took a hit on Africa’s largest economy.
- Nairametrics, envisage cautious buying amid growing geopolitical uncertainty across Nigerian borders, which continue to put pressure on Nigeria’s major export earning product, crude oil..in spite of OPEC compliance effort in recent weeks.