The Nigerian equities market ended the week with a negative performance as the total value of listed equities fell by N98 billion on Friday, 14th July 2023.
The market experienced a slight dip of 0.29% and ended the week at N34.069 trillion on Friday.
This represents a minor decrease from Thursday’s closing of N 34.167 trillion.
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The market closed lower on Friday as the All-Share Index (ASI) declined by 0.34% to 62,569.73 points.
The ASI had opened at 62,784.94 points, shredding 215.21 points by the end of the trading session.
The total value of the shares traded was N8.83 billion, which was 15.5% lower than the N10.45 billion recorded in the previous session.
The decline in share demand resulted in a 1.62 billion drop in the market’s transaction value.
Market Indices
Below are the market indices for today’s trading session:
NGX ASI: 62,569.73 points
% Day Change: -0.34%
% YTD: +22.08%
Market Cap: N34,067 trillion
Volume Traded: 600.49 million
Value: N8.83 billion
Deals: 9,554
How Stocks Performed
The stock market witnessed significant fluctuations on the last trading day of the week. NASCON emerged as the biggest winner, recording a 10% rise in its share price. UACN, on the other hand, experienced a 10% drop and became the worst performer. ACCESSCORP dominated the market activity, with the highest number of shares traded at the end of the trading day.
The market witnessed lower trading activity in today’s session, as the number of executed transactions dropped to 9,554 from 10,296 transactions in the previous session.
Top Gainers and Top Losers
With a 10% increase in the value of its shares, NASCON ranked the biggest gainer. JOHNHOLT and SKYAVN followed closely, with respective stock price increases of 9.70% and 9.67%.
UACH, CHAMPION and WEMABANK recorded a significant decline in their share value as the trio lost 10% each, dragging down the overall market performance.
Top Traded Stocks
The trading volume of the market plummeted today, with a 24.79% decrease in the number of 600.487 shares exchanged, compared to the previous day’s volume of 798.47 million shares, which represents a loss of 197.98 million.
ACCESSCORP, UBA and FIDELITYBK led the market activity today with the highest trading volumes among all equities. These stocks traded 94.16 million, 54.12 million, and 48.69 million units, respectively, reflecting their strong demand and liquidity.
ACCESSCORP topped the list of most traded stocks on the exchange today, with a total value of N1.43 billion. ZENITH BANK followed closely with N1.14 billion, while UBA ranked third with N669.3 million.
SWOOTs Watch
The performance of the Nigerian Stock Exchange (NSE) varied across different sectors today. DANGOTE CEMENT was among the few gainers, with a 2.76% increase in its share price. However, ZENITH BANK, UBA, and GTCO suffered notable declines of 3.42%, 4.64%, and 2.04% respectively, reflecting a downward trend in the banking and telecommunication sectors.
The market performance of AIRTEL AFRICA, MTN NIGERIA, BUA CEMENT and BUA FOODS remained stable today, as they closed at the same prices as yesterday. This indicates that there was no significant change in their market positions or investor sentiments.
FUGAZ Update
The stock market suffered a setback due to the poor performance of the banking sector, which witnessed significant losses among the top five banks. The share prices of FBNH, ACCESS HOLDINGS, ZENITH BANK, UBA, and GTCO declined by 9.46%, 4.47%, 3.42%, 1.15% and 0.88% respectively.
