In the week between January 22-26, 2024, the Nigerian Exchange (NGX) appreciated by 8.32% to close at 102,401.88 points, an increase of 7863.76 points from last week’s 94,538.12.
During the week, equities gained N4.303 trillion as the market cap closed at N56.038 trillion, from last week’s N51.735 trillion.
In the market, all indices experienced gains during the week except for NGX Banking, NGX Insurance, NGX AFR Bank Value, NGX MERI Growth, NGX Growth, and NGX Sovereign Bond, which recorded declines of 1.63%, 4.10%, 2.36%, 3.71%, 1.38%, and 0.68%, respectively. Meanwhile, the NGX ASeM index concluded the session without any change.
Equity Market Performance
This week, investors engaged in a total trading volume of 2.981 billion shares valued at N57.873 billion across 67,962 deals on the Exchange.
This marks a notable contrast from the previous week, where a total of 5.179 billion shares, with a value of N77.797 billion, changed hands in 79,012 deals.
The Financial Services Industry took the lead in activity, both in volume and value, accounting for 1.863 billion shares valued at N26.774 billion in 29,276 deals. This represents a significant contribution of 62.50% to the total equity turnover volume and 46.26% to the total value.
Following closely was the Conglomerates Industry, recording 309.432 million shares valued at N5.201 billion in 5,882 deals. The Oil and Gas Industry secured the third position, with a turnover of 259.223 million shares worth N4.892 billion in 5,658 deals.
The top three equities in terms of volume Transnational Corporation Plc, United Bank for Africa Plc, and Sterling Financial Holdings Company Plc witnessed active trading, accounting for 686.291 million shares valued at N12.943 billion in 9,490 deals. This contribution represents 23.02% of the total equity turnover volume and 22.36% of the total value.
Top Gainers during the week
- TRIPPLEG: +32.34% to close at N2.83
- DANGCEM: +28.82% to close at N694.10
- SUNUASSUR: +25.00% to close at N2.25
- JAPAULGOLD: +23.20% to close at N3.08
- SEPLAT: +21.00% to close at N3074.60
- BUACEMENT: +20.98% to close at N179.65
- ETERNA: +19.61% to close at N27.45
- BUAFOODS: +13.25% to close at N271.80
- CUTIX: +11.11% to close at N3.00
- MEYER: +9.88% to close at N3.56
Top Losers during the week
- VERITASKAP: -23.28% to close at N0.59
- TIP: -21.77% to close at N2.30
- CADBURY: -20.86% to close at N22.95
- DEAPCAP: -19.19% to close at N0.80
- MCNICHOLS: -17.78% to close at N1.48
- UNITYBNK: -16.57% to close at N2.92
- AFRIPRUD: -16.50% to close at N8.35
- HONYFLOUR: -16.07% to close at N4.91
- CONHALLPLC: -15.54% to close at N1.63
- CORNERST: -15.51% to close at N1.58
SWOOT and FUGAZ Update
During the week, stocks worth over N1 trillion drove the overall bullish sentiment of the market. Dangote Cement Plc appreciated by 28.82%, BUA Cement appreciated by 20.98%, Seplat Energy appreciated by 21.00%, BUA Foods appreciated by 13.25%, Geregu Power appreciated by 5.39%, and MTN Nigeria gained 1.31% during the week.
Other members of the SWOOT category, Transcorp Hotels Plc lost 1.2%, Zenith Bank lost 4.44%, United Bank for Africa lost 1.61%, Guaranty Trust Holding Company declined by 0.34%, and Access Holdings declined by 4.67%.
Airtel Africa recorded no price change throughout the week.
During the week, Dangote Sugar appreciated by 3.31% to finally cross the N1 trillion market capitalization level. The stock appreciated by 3.31% on the January 26, 2024, to hit a market cap of N1.004 trillion, thus making the 13th SWOOT member in the NGX.
The only non-SWOOT member of the FUGAZ category, FBNH recorded no price changes during the week, as it started and ended the week with a share price of N26.60.
