The financial services industry dominated in volume terms at the end of last week’s transactions on the floor of the Nigerian Exchange Limited (NGX).
It led the activity chart with 442.525 million shares valued at N4.345 billion traded in 9, 995 deals, thus contributing 62.7 per cent to the total equity turnover and value. The consumer goods industry followed with 82.1 million units worth N2.2 billion in 3,875 deals.
The conglomerates’ industry ranked third with a turnover of 51million shares worth N242 million in 694 deals.
Trading in the top three equities namely Guaranty Trust Holding Company Plc, Zenith Bank
Plc and FBN Holdings Plc (measured by volume) accounted for 173.852 million shares
worth N3.073 billion in 4,324 deals, contributing 24.6 per cent to the total equity turnover volume.
Last week, a turnover of 705.6 million shares worth N12.9 billion was recorded in 22,124 deals by investors on the floor of the exchange, in contrast to a total of 1.546 billion units, valued at N16.3 billion that was exchanged in 23,873 deals on July 29, 2022.
A total of 16,247 units of Exchange Traded Products (ETPs) valued at N400,448.65 were traded in 24 deals compared to a total of 35,532 units valued at N1.7 million transacted in 26 deals during the preceding week.
The NGX All-share index and market capitalisation appreciated 0.7 per cent to close the week at 50,722.33 and N27.4 trillion respectively.
Gains in MTN Nigeria (+7.4 per cent), BUAFoods (+7.2 per cent), Zenith Bank (+5.8 per cent), Stanbic IBTC (+9.2 per cent), and Lafarge WAPCO (+8.8 per cent) spurred the weekly gain.
Similarly, all other indices finished higher with the exception of the NGX-Main Board, NGX Insurance, NGX Industrial Goods and NGX Sovereign Bond Indices which depreciated by 1.16 per cent, 0.37 per cent, 5.76 per cent and 0.07 per cent while the NGX ASeM index closed flat.
41 equities appreciated in price during the week, higher than 11 in
the previous week. 22 equities depreciated in price lower than 53
in the previous week, while 93 equities remained unchanged higher than 92 equities recorded in the previous week.
A total of 118,689 units of bonds, valued at N120.9 million were traded in 35 deals compared to a total of 94,006 units valued at N100 million transacted last week in 18 deals.
Reacting to market performance, analysts at Codros capital said: “Local stocks closed in the green territory despite pressure from profit-taking activities during the week. In the interim, we believe the full swing of the H1, 22 earnings season will dictate market sentiments and possibly drive positive performance as investors hunt for bargains in fundamentally sound stocks with a consistent history of interim dividend payments.
Vetiva Dealings and Brokerage said: “Despite the drawback seen from some selected large-cap names like BUA cement during the week, market sentiments remained largely positive as gainers outnumbered losers all through the five trading sessions.
