The Nigerian Exchange (NGX) closed bullish as the All-Share Index appreciated by 2.98% to close at 60,968.27 in the week ended 30th June 2023.
The market opened for three trading days this week as the Federal Government of Nigeria declared Wednesday, June 28, and Thursday, June 29, 2023, as Public Holidays to commemorate the Eid-el Kabir celebration.
The Market Capitalization gained N961 billion during the week to close at N33.198 trillion as against N32.237 trillion recorded last week.
The month-to-date performance of the Nigerian stock market is 9.32% while the year-to-date return is 18.96%.
Top Gainers & Losers for the Week
At the end of the week’s trading session, IKEJA HOTEL Plc was the top-performing stock as it gained 33.00%
TRANSCORP HOTELS (32.95%), ETERNA PLC, (32.49%), STERLING (30.74%), and CHAMS PLC (29.82%) rounded up the top 5 for the week.
For the top losers for the week, SECURE ELECTRONIC TECHNOLOGY PLC led the chart as it lost (-13.16%)
GUINEA INSURANCE PLC (-12.50%), UNIVERSAL INSURANCE PLC (-12.50%), SOVEREIGN TRUST INSURANCE PLC (-10.91%) and PHARMA-DEKO PLC. (-10.00%) completed the top 5 losers.
AGM Watch
The following companies made announcements of their respective Annual General Meetings.
On Monday, John Holt Plc notified the Nigerian Exchange Limited (NGX) that their 61st Annual General Meeting earlier scheduled to hold on Wednesday, 28th of June, 2023, had been postponed to Thursday, 6th of July 2023 due to the public holiday of Wednesday 28th June, 2023.
Also on Monday, Secure Electronic Technology Plc announced that their 16th Annual General Meeting of the members will be held on Thursday, 3rd August 2023 at The Events Warehouse, Plot CDE Industrial Crescent, off Town Planning Way, Ilupeju, Lagos at noon.
On Tuesday, Prestige Assurance Plc announced a change in the date of their 53rd Annual General Meeting (AGM), which was scheduled for 28 June 2023. The new date is scheduled for Thursday, 20th July 2023 at 12.00-noon prompt, at the Agip Recital Hall, Muson Centre, No. 8/9 Marina, Onikan, Lagos State.
The company noted that the date change was necessitated due to the public holiday of Wednesday, 28th June 2023 to mark this year’s Muslim Eid-al-Maulud celebration.
On Friday, MRS Oil Nigeria Plc announced that its 54th Annual General Meeting will hold at the Federal Palace Hotel, Ahmadu Bello Way, Victoria Island, Lagos, Nigeria, on August 3rd, 2023 at 11:00 a.m.
Also on Friday, Ikeja Hotel Plc announced that its 46th Annual General Meeting will hold at Sheraton Lagos Hotel, 30 Mobolaji Bank Anthony Way, Ikeja, on Wednesday, July 26, 2023, at 10:00 am.
Insider Trades Activities
During the week, directors of several companies bought shares.
On Monday, UBA’s Group Managing Director, Mr Oliver Alawuba, acquired 35.34 million shares worth N405.105 million in the company.
With this latest acquisition, Alawuba has increased his total shareholding in UBA from 1,593,248 units of shares as of December 31, 2022, to N46,628,767 units.
Also on Monday, Dr. Owen Omogiafo, President of Transcorp Group acquired an additional 15.18 million shares worth N47.7 million in the company.
The acquisition of 15.18 million shares represents 0.04% of the company’s total outstanding shares of the company.
Stocks That Will Pay Dividends Next Week
The following stocks are set to pay dividends in the coming week.
AXA Mansard Plc is set to pay dividends on 4th July 2023. The shareholders who would receive dividends are those whose names are on the register as of the qualification date of 21st June 2023.
The total dividends to be paid by AXA Mansard are N3.24 billion.
AXA Mansard ended the week trading at N3.95 per share with a market capitalization of N35.55 billion.
Beta Glass Plc is set to pay dividends on 7th July 2023. The shareholders who would receive dividends are those whose names are on the register as of the qualification date of 16th June 2023.
The total dividends to be paid by Beta Glass are N701.96 million.
Beta Glass ended the week trading at N38.85 per share with a market capitalization of N23.31 billion.