The Nigerian equities market closed bearish during the week as the All-Share Index declined by 0.59% in the week ended 19th August 2022. This is following the 2.91% decline 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, depreciated by 0.59% from 49,664.07 points recorded as of the end of last week to close the week at 49,370.62 index points, while the market capitalization followed suit to close at N26.63 trillion.
This brings the month-to-date performance of the Nigerian stock market to a negative 1.98% and a year-to-date gain of 15.58%.
Equity market performance
A total of 823.005 million shares valued at N12.228 billion were traded during the week across 17,482 deals on the floor of The Exchange. This is greater than the 1.511 billion units of shares valued at N13.547 billion that exchanged hands in the previous week in 20,074 deals.
Similar to the previous week, the Financial Services Industry led the activity chart in terms of volume of shares traded with 561.683 million shares valued at N5.576 billion traded in 8,388 deals; thereby contributing 68.25% and 45.60% to the total equity turnover volume and value respectively.
The ICT Industry followed with 91.819 million shares worth N1.478 billion in 1,532 deals, while the Consumer Goods Industry stood in third place with a turnover of 42.546 million shares worth N3.396 billion in 2,639 deals.
Trading in the top three equities by volume namely FBN Holdings Plc, E-Tranzact International Plc and United Bank for Africa Plc accounted for 323.474 million shares worth N2.520 billion in 1,457 deals, contributing 39.30% and 20.61% to the total equity turnover volume and value respectively.
Similarly, 13 indices finished lower, while 4 indexes appreciated with the exception of NGX ASeM Index and NGX Growth Index which remained unchanged.
TOP GAINERS
- PRESTIGE up + 18.18% to close at N0.52
- NEIMETH up + 9.29% to close at N1.53
- SOVEREIGN TRUST up + 8.00% to close at N0.27
- RED STAR up + 5.88% to close at N2.70
- UNITY BANK up + 4.65% to close at N0.45
TOP LOSERS
- JAPAUL GOLD down – 23.68% to close at N0.29
- COURTEVILLE down – 21.43 % to close at N0.44
- UNIVERSITY PRESS down – 18.87% to close at N1.72
- P Z down – 17.07% to close at N8.50
- HONEYWELL FLOUR MILL down – 14.49% to close at N2.42
Summary
Twenty-one (21) equities appreciated in price during the week, lower than Thirty- three (33) equities in the previous week. Forty-one (41) equities depreciated in price higher than Twenty- six (26) in the previous week, while ninety-four (94) equities remained unchanged lower than ninety-seven (97) equities recorded in the previous week.
With this week increase in savings interest rate and the impact on other rates, we expect more sell pressure on the stick market, we expect more downward pressure on the stock market. Obviously inflation is still very potent