Another exciting week for Nigerian stocks and these were the best performers

The Nigerian equities market maintained its bullish performance during the week as the All-Share index gained 2.43% in the week ended 29th April 2022. This is following the 2.00% growth recorded in the previous week.

This is according to the information contained in the weekly stock market report, released by the Nigerian Exchange Group.

The benchmark index, ASI appreciated by 2.43% from 48,459.65 points recorded as of the end of last week to close the week at 49,638.84 index points, while the market capitalization followed suit to close at N26.76 trillion.

This brings the month-to-date performance of the Nigerian stock market to +5.69% and a year-to-date gain of 16.21%.

Equity market performance

A total of 8.21 billion shares valued at N46.15 billion were traded during the week across 28,622 deals on the floor of the Exchange. This is higher than the 1.30 billion units of shares valued at N17.81 billion that exchanged hands in the previous week in 20,212 deals.

• The Consumer Goods Industry led the activity chart in terms of volume of shares traded with 6.26 billion shares valued at N29.31 billion traded in 5,225 deals; thereby contributing 76.28% and 59.64% to the total equity turnover volume and value respectively.
• The Financial Services Industry followed with 1.30 billion shares worth N9.13 billion in 11,551 deals, while the Conglomerates Industry, stood in third place with a turnover of 247.48 million shares worth N334.89 million in 1,348 deals.
• Trading in the top three equities by volume – Honeywell Flour Mills Plc, FCMB Group Plc, and Transcorp Plc, accounted for 6.92 billion shares worth N27.95 billion in 2,237 deals, contributing 84.39% and 56.87% to the total equity turnover volume and value respectively.

Similarly, all other indices finished higher with the exception of NGX Banking and NGX-AFR Bank Value Index, which depreciated by 1.50% and 1.21%, respectively. NGX AseM, NGX Growth and NGX SovereIgn Bond indices closed flat.

TOP GAINERS

• MEYER PLC up +28.76% to close at N3.00
• ACADEMY up +25.64% to close at N1.47
• CADBURY up +22.02% to close at N10.25
• CHAMPION up +21.15% to close at N2.52
• UPDC up +20.22% to close at N1.07

TOP LOSERS

• JAPAUL down – 11.76% to close at N0.30
• NPFMCRFBNK down –10.00% to close at N1.98
• ETERNA down –9.47% to close at N6.02
• GLAXOSMITH down –6.40% to close at N5.85
• FIDELITY down –6.17% to close at N3.80

Summary

Fifty-six (56) equities appreciated in price during the week, higher than Fifty (50) equities in the previous week. Twenty-six (26) equities depreciated in price, lower than Twenty-nine (29) equities in the previous week, while seventy-four (74) equities remained unchanged lower than seventy-seven (77) equities recorded in the previous week.

Subscribe to the Nairametrics Stock Select Newsletter to access our stock picks.