The Nigerian equities market reversed its bullish stance to close bearish during the week as the All-Share index lost 2.68% in the week ended 17th June 2022. This is following the 0.55% growth recorded in the previous week.
The decline in the local bourse could be attributed to the MPC resolutions which saw MPR increase by 150 bps, hence resulting in profit-taking in the stock market, to take positions in higher yield instruments.
This is according to the information contained in the weekly stock market report, released by the Nigerian Exchange Group.
The benchmark index, ASI depreciated by 2.68% from 53,201.38 points recorded as of the end of last week to close the week at 51,778.08 index points, while the market capitalization followed suit to close at N27.91 trillion.
This brings the month-to-date performance of the Nigerian stock market to –2.29% and a year-to-date gain of 21.21%.
Equity market performance
A total of 940.89 million shares valued at N11.49 billion were traded during the week across 20,077 deals on the floor of the Exchange. This is lower than the 1.8 billion units of shares valued at N19.49 billion that exchanged hands in the previous week in 21,723 deals.
Similar to the previous week, the Financial Services Industry led the activity chart in terms of volume of shares traded with 692.33 million shares valued at N6.22 billion traded in 10,615 deals; hereby contributing 73.58% and 54.12% to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 89.87 million shares worth N246.06 million in 764 deals, while the Consumer Goods Industry, stood in third place with a turnover of 54.23 million shares worth N1.23 billion in 2,923 deals.
Trading in the top three equities by volume namely UBA Plc, Sterling Bank Plc, and Transcorp Plc accounted for 304.84 million shares worth N1.29 billion in 2,103 deals, contributing 32.39% and 11.18% to the total equity turnover volume and value respectively.
Similarly, all other indices finished lower with the exception of NGX Growth Index. While NGX ASeM Index remained unchanged.
- LEARNAFRI up +15.74% to close at N2.50
- SUNUASS up +9.37% to close at N0.35
- TRIPPLEGEE up +9.20% to close at N0.95
- ELLAHLAKES up +8.40% to close at N4.00
- LIVINGTRUST up +5.26% to close at N1.20
- LIVESTOCK down – 16.88% to close at N1.33
- INTBREW down –14.97% to close at N6.25
- CUTIX down –10.74% to close at N2.41
- MEYER down –10.00% to close at N2.79
- CONOIL down –10.00% to close at N28.80
Thirteen (13) equities appreciated in price during the week, lower than twenty-nine (29) equities in the previous week. Fifty-one (51) equities depreciated in price higher than thirty-six (36) equities in the previous week, while ninety-two (92) equities remained unchanged higher than ninety-one (91) equities recorded in the previous week.