L – R: Foluso Gbadamosi, ED, Junior Achievement Nigeria; Mr Abubakar Albasu, Principal Manager, Head of Advocacy Office, Consumer Education and Evaluation Division, Central Bank of Nigeria (CBN); Mr John Achile, Principal Manager, Market Development Department, Financial Inclusion Division, Securities and Exchange Commission (SEC); Mr Jude Chiemeka, Divisional Head, Capital Markets, Nigerian Exchange Limited (NGX); Adele Mojeed, Jufradol Schools, First Runner-Up; Enoch Nwogu, Canterbury International, Winner, Financial Literacy Quiz Competition; Faseyitan Moyege, Dansol High School, Second Runner-Up; Abdulrahman Olawoyin, Branch Director AIESEC Lagos; Gbolahan Faniran, CEO Miniemoney; Muhammad Jamiu Kayode, Head Securities Dealing, APT Securities Funds; Ms. Ugochi Obi, Head, X-Academy, NGX; Kelvin Moore, Director, Global Business Development, Chartered Institute for Securities and Investment (CISI); Saheed Bashir, Managing Director/CEO, Meristem Stockbrokers Limited and Abimbola Babalola, Head, Market Surveillance and Investigation, NGX Regulation, during the NGX Closing Gong Ceremony in commemoration of 2023 Global Money Week on Tuesday, March 21, 2023 in Lagos.
Following the sector last week was the oil & gas index, shedding 0.7 per cent. The losses were occassioned by price depreciation in Eternaoil Plc (-26.7 per cent) .
On the other hand, the insurance and consumer goods indices topped the gainers chart with 5.9 per cent and 2.3 per cent.
The price appreciation was driven by buying interest in Mansard (+17.1 per cent), Custodian (+9.1 per cent), Dangote Sugar Refinery (+25.0 per cent), and Nigerian Breweries (+16.4 per cent).
Consequently, bargain hunting in MTNN lifted the NGX All-share index and market capitalisation by 0.22 per cent to close the week at 65,198.08 and N35.480 trillion, pushing the month-to-date and year-to-date returns to +1.6 per cent and +27.2 per cent.
Similarly, all other indices finished higher with the exception of NGX Main Board, NGX CG,
NGX Banking, NGX AFR Bank Value, NGX MERI Growth, NGX MERI Value and NGX Oil
and Gas indices which depreciated by 0.07 per cent, 0.06 per cent, 2.13 per cent, 1.85 per cent, 2.43 per cent, 0.78 per cent, and
0.68 per cent respectively while the NGX ASeM index closed flat.
Reacting on market performance, analysts predicted brighter outlook, stating that anticipation of interim dividend declaration would continue to drive positive performance on the bourse.
“Overall, we reiterate the need for positioning in only fundamentally sound stocks as the weak macro environment remains a significant headwind for corporate earnings.”
On the activity chart, the financial services industry (measured by volume) led the activity chart with 1.9 billion shares valued at N16.5 billion traded in 17,689 deals; thus contributing 74.6 per cent to the total equity turnover volume.
The conglomerates industry followed with 160.2 million units worth N625 million in 1,811 deals. The third place was the Oil and Gas Industry, with a turnover of 152 million shares worth N1.332 billion in 2,403 deals.
Trading in the top three equities namely AIICO Insurance Plc, FCMB Group Plc and Transnational Corporation Plc (measured by volume) accounted for 636.2 million shares worth N1.7 billion in 2,751 deals, contributing 24.71 per cent to the total equity
turnover volume.
On the whole, a turnover of 2.6 billion shares worth N29.6 billion was recorded in 37,713 deals by investors on the floor of the Exchange.
This volume of shares traded was, however lower than 2.9 billion units valued at N37.6 billion that was exchanged in 41,547 deals during the preceding week.
Further breakdown of last week’s transactions showed that a total of 27,073 units of Exchange Traded Products (ETPs) valued at N1.3 million were traded in 90 deals compared to 14,270 units valued at N3.2 million transacted in 95 deals on July 28, 2023.
compared with a total of 29,766 units valued at N30.6 million transacted in 31deals during the preceding week.
42 equities appreciated in price during the week higher than 39
equities in the previous week. 52 equities depreciated in price lower than 54 in the previous week, while 61 equities remained unchanged, lower than 62 recorded in the previous week.
