The Nigerian Stock Exchange, NGX, witnessed a dynamic week of trading activities, marking the seventh week of the year 2024. Overall the All Share Index appreciated by a meager 1.56% to settle at 105,722.78 from the previous close of 104,100.00. This brings the year-to-date to 39.97%, the month-to-date to 4.48%, and the week-to-date to 3.75% respectively.
Market Capitalisation closed at N57.850 trillion. An aggregate of 332,362,995 units of shares was traded in 8,238 deals valued at N7,880,218,721.87.
Trading highlights:
According to data by the Nigerian Stock Exchange (NGX), Monday, February 12, 2024, saw as the most active day with 8,715 deals which resulted in a turnover volume of 242.43 million, valued at N5.13 billion from 125 stocks traded.
The following day, Tuesday, February 13, 2024, witnessed a 1.17 percent decrease in trading activity, featuring 8,614 deals, a turnover volume of 263.19 million, and a total value of N4.3 billion from 125 stocks.
Wednesday, February 14, 2024, stood out as the peak trading day, recording 8,654 deals and a turnover volume of 426.86 million, worth N12.11 billion from 126 stocks traded. Thursday, February 15, 2024, saw 8,168 deals with a turnover volume of 284.49 million, valued at N6.91 billion, involving 124 stocks, and the week concluded on Friday, February 16, 2024, with 8,395 deals, a turnover volume of 342.52 million, worth N8.1 billion, involving 121 stocks.
Weekly totals
The week saw a total turnover of 1.559 billion shares worth N36.497 billion transacted in 42,546 deals. This represented a 37.09 percent decrease in shares traded and a 21.65 percent decrease in value compared to the previous week, with 29.02 percent fewer deals.
Industry contributions
The Financial Services Industry took the lead in trading volume, contributing 1.127 billion shares valued at N18.908 billion, accounting for 72.27 percent and 51.81 percent of the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 117.400 million shares worth N1.508 billion, while the Consumer Goods sector recorded a turnover of 98.422 million shares valued at N4.008 billion.
Top equities traded
United Bank for Africa Plc, FBN Holdings Plc, and Guaranty Trust Holding Company Plc accounted for 389.286 million shares worth N11.757 billion, representing 24.96 percent and 32.21 percent of the total equity turnover volume and value.
Price Gainers and Declines
Thirty-five equities appreciated, while fifty-one depreciated, and sixty-eight remained unchanged. Notable gainers included JULI PLC with a 45.54 % (percent increase), followed by Geregu Power Plc (33.3 percent) and BUA FOODS PLC (20.82 percent).
Conversely, MEYER PLC. experienced the highest percentage loss of 18.96 percent, followed by MORISON INDUSTRIES PLC. with an 18.69 percent decrease.
Exchange-Traded Products (ETP)
ETPs experienced a decrease in trading volume, with 27,394 units valued at N16.787 million in 239 deals, compared to the previous week’s 3.144 million units valued at N108.299 million in 659 deals.
Index Movements
The NGX All-Share Index and Market Capitalization appreciated by 3.79 percent, closing the week at 105,722.78 and N57.850 trillion respectively. Most indices finished higher, except for minor depreciations in NGX CG, NGX Banking, NGX AFR Bank Value, NGX AFR Div Yield, NGX MERI Growth, NGX Industrial Goods, NGX Growth, and NGX Sovereign Bond.
This week’s market activity signifies significant shifts in trading volumes, values, and index movements, reflecting changes in investor sentiment and market dynamics. Investors are closely monitoring industry performance, regulatory developments, and macroeconomic indicators that shape market trends and influence investment decisions.
