Nigerian Stocks ended the week bullish cumulatively. The All-Share Index and Market Capitalization appreciated by 2.19% to close the week at 34,885.51 and N18.228 trillion respectively.
Investors gained N390.26 billion. A total turnover of 1.816 billion shares worth N25.791 billion in 31,665 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 11.400 billion shares valued at N35.892 billion that exchanged hands last week in 39,265 deals.
- The Financial Services Industry (measured by volume) led the activity chart with 1.274 billion shares valued at N14.710 billion, traded in 18,392 deals; thus, contributing 70.15% and 57.04% to the total equity turnover volume and value respectively.
- The Conglomerates Industry followed with 217.170 million shares worth N231.809 million in 1,226 deals. The third place was the Consumer Goods Industry, with a turnover of 113.760 million shares worth N2.598 billion in 4,568 deals.
- Trading in the top three equities namely Zenith Bank Plc, Transnational Corporation of Nigeria Plc, and Access Bank Plc (measured by volume) accounted for 649.529 million shares worth N8.104 billion in 6,395 deals, contributing 35.76% and 31.42% to the total equity turnover volume and value respectively.
- Twenty-seven (27) equities appreciated at price during the week, higher than twenty-one (21) equities in the previous week. Forty-three (43) equities depreciated in price, lower than fifty-five (55) equities in the previous week. Ninety-one (91) equities remained unchanged, higher than eighty-five (85) recorded in the previous week.
Top 10 gainers W/W
- UPDC REAL ESTATE INVESTMENT TRUST up 32.53% to close at N5.50
- NEIMETH INTERNATIONAL PHARMACEUTICALS PLC up 12.03% to close at N2.70
- NCR (NIGERIA) PLC. up 10.00% to close at N1.98
- 11 PLC (MOBIL) up 9.89% to close at N208.80
- UNIVERSITY PRESS PLC. up 9.52% to close at N1.38
- UNITED CAPITAL PLC up 8.16% to close at N4.77
- CORONATION INSURANCE PLC up 7.32% to close at N0.44
- FCMB GROUP PLC. up 7.26% to close at N3.25
- AIRTEL AFRICA PLC up 7.00% to close at N535.00
- AXAMANSARD INSURANCE PLC up 6.36% to close at N2.34
Top 10 losers W/W
- JAPAUL OIL & MARITIME SERVICES PLC down 11.11% to close at N0.24
- HONEYWELL FLOUR MILL PLC down 10.83% to close at N1.07
- CUSTODIAN INVESTMENT PLC down 10.00% to close at N5.85
- CHAMPION BREW. PLC. down 9.43% to close at N0.96
- TRANS-NATIONWIDE EXPRESS PLC. down 9.38% to close at N0.87
- LINKAGE ASSURANCE PLC down 9.09% to close at N0.50
- WEMA BANK PLC. down 9.09% to close at N0.70
- PORTLAND PAINTS & PRODUCTS NIGERIA PLC down 8.42% to close at N2.61
- ARDOVA PLC down 8.33% to close at N13.75
- NASCON ALLIED INDUSTRIES PLC down 8.05% to close at N16.00
Nigerian Stocks unsurprisingly recorded impressive gains W/W, as investors increased their buying pressure, especially buying from dips across the market spectrum.
Nigerian’s crude, selling at $48/barrel, boosted the Nigerian central bank dollar cash inflow. Also, the Apex Bank last concluded MPC meeting left all key indicators unchanged, kept Nigerian Bank stocks investors relieved, amid the bias that Nigerian banks would have enough headway in mitigating the prevailing economic uncertainties currently in play.
- Stock experts anticipate the present bullish run currently playing at Africa’s best-performing equity market will remain in the coming week, albeit alongside profit-taking.
- However, Nairametrics, envisage cautious buying, taking into consideration the low presence of the Foreign portfolio investors amid low investments seen lately in the Nigerian Stock Exchange amid stringent capital controls set in place by Nigeria’s Apex bank could limit the Stocks bull upside in the long term.
Explore Data on the Nairametrics Research Website