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Nairametrics
Home Markets Equities

Weekly Stock Update: Nigerian Exchange Group record loss w-o-w, down by 2.28%

Inimfon Asifa by Inimfon Asifa
April 9, 2023
in Equities, Markets, Stock Market
Nigerian stock market
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Key Highlights

  • The NGX All-Share Index and Market Capitalization depreciated by 2.28% to close the week at 52,994.13 and N28.869 trillion respectively.
  • The market opened for four trading days this week, as the Federal Government of Nigeria declared Friday 7th April 2023, and Monday 10th April 2023 as Public Holidays to mark the Easter celebration.

The Nigerian equities market closed bearish during the week as the All-Share Index depreciated by 2.28% in the week ended 6th April 2023. This is following the 1.20% loss 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 2.28% from 52,994.13 points recorded as of the end of last week to close the week at 54,232.34 index points, while the market capitalization followed suit to close at N28.869  trillion.

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This brings the month-to-date performance of the Nigerian stock market to a negative 2.28% and a year-to-date gain of 3.40%.

Equity market performance 

A total of 1.054 billion shares valued at N10.050 billion were traded during the week across 16,155 deals on the floor of The Exchange. In contrast to a total of 2.071 billion shares valued at N17.562 billion that exchanged hands last week in 17,917 deals.

The Financial Services Industry led the activity chart in terms of volume of shares traded with 630.378 million shares valued at  N5.438 billion traded in 7,705 deals; thereby contributing  59.83% and 54.11% to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 248.074 million worth N394.370 million in  812 deals, while the Oil and Gas Industry, stood in third place with a turnover of 70.921 million shares worth N1.345 billion in 1,452 deals.

Trading in the top three equities by volume namely TRANSCORP, UBA, and FIDELITYBK accounted for 498.527 million shares worth N2.118 billion in 1,862 deals, contributing 47.32% and 21.07% to the total equity turnover volume and value respectively.

Similarly, 1 index finished higher while 16 finished low respectively while the NGX ASeM and  NGX Growth indices closed flat. 

TOP GAINERS 

  • NAHCO up + 20.99% to close at N9.80
  • MANSARD up + 15.79% to close at N2.20
  • CWG up + 14.94% to close at N1.00
  • LINKASSURE up + 11.63% to close at N0.48
  • LASACO up + 9.09% to close at N1.20

 TOP LOSERS 

  • ETERNA down – 19.12% to close at N5.50
  • MULTIVERSE down – 18.83% to close at N2.63
  • ABCTRANS is down – 16.22% to close at N0.31
  • ROYALEX down – 15.38% to close at N0.66
  • UACN down – 10.99% to close at N8.50

Summary 

Sixteen (16) equities appreciated in price during the week lower than thirty-seven (37) equities in the previous week. Thirty-seven (37) equities depreciated in a price higher than thirty (30) in the previous week, while one hundred and three (103) equities remained unchanged, higher than ninety (90) equities recorded in the previous week.


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Inimfon Asifa

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