The bears returned to the Nigerian equities market during the week ended Friday, 18th June 2021 after two consecutive weeks of gains. Investors in Nigeria’s stock market lost about N266 billion as the market capitalisation declined by 1.3% to close at N20.14 trillion.
This is according to the weekly stock market report released by the Nigerian Exchange Group (NGX). The All-Share Index dipped by 1.3% during the week to close at 36,648.91 points compared to 39,156.28 points recorded as of 11th June 2021, bringing the year-to-date returns to -4.03%.
Equity Market Performance
In the course of the trading week, there were lesser trading activities compared to the previous week as a total of 981.147 million shares worth N10.384 billion were traded across 15,001 deals which is 7.3% and 19.1% less than the volume traded and value traded in the previous week, respectively.
- This could be attributed to the lack of trading activities on Monday due to the public holiday observed in Nigeria for the celebration of Democracy Day.
- The Financial Services Industry topped as the most actively traded sector in terms of volume with 695.8 million shares valued at N5.178 billion traded across 8,616 deals; thus contributing 70.92% and 49.86% to the total equity turnover volume and value respectively.
- The Consumer Goods Industry followed with 75.88 million shares worth N1.227 billion in 2,263 deals. In third place was Conglomerates Industry, with a turnover of 67.43 million shares valued at N367.31 million in 612 deals.
- Also, Zenith Bank, Sterling Bank, and Wema Bank were the top three traded equities during the week, accounting for 27.1% and 23.6% of the total equity turnover and value respectively. They collectively traded in 265.65 million shares worth N2.45 billion across 2,742 deals.
- Trading in the shares of Guaranty Trust Bank Plc (the Bank) was suspended on Friday, 18th June 2021 in preparation for the eventual delisting of Guaranty Trust Bank Plc from the Daily Official List of the Nigerian Exchange Limited (NGX) and listing of the Holding Company, Guaranty Trust Holding Company Plc on the exchange.
- On Wednesday, 16th June 2021 the share price of B.O.C Gases Plc, was reclassified from the Low-Priced Stock Group to the Medium-Priced Stock Group on the basis that B.O.C Gases Plc stock price has traded above N5 in at least 4 months out of the last 6 months, which is in line with The NGX’s Pricing Methodology framework.
It was observed that all other indices appreciated in the week with the exception of NSE ASI, NSE-Main Board, NSE MERI Growth, and NSE Industrial Goods, which depreciated by 1.30%, 3.26%, 1.33%, and 0.05% respectively, while the NSE Growth and NSE ASeM Indices closed flat.
Top gainers
Top losers
Exchange-Traded Products (ETPs)
Trading activities in the ETP market improved significantly during the week as the value of ETFs traded increased from N160,140 in the prior week to N1.61 million.
- Also, the units traded increased from 1,026 units in the prior week to 101,419 units at the end of the week.
- The 7 ETFs traded during the week were; VETGRIF30, VETINDETF, MERGROWTH, VETBANK, VSPBONDETF, VETGOODS, and NEWGOLD.
- The remaining 5 listed exchange-traded funds were not traded in the week.
Fixed Income Securities Market
The fixed income market also experience[5 ed a significant increase in the week, as a total of 26,452 units valued at N27.236 million were traded in 17 deals compared with a total of 5,335 units valued at N5.350 million transacted last week in 10 deals.
- Specifically, the 5 bonds traded in the week were; FG132036S2, FGSUK2027S3, FG112034S2, FG142037S2, and FGS202386.