United Capital Plc was the top gainer in the NGX for the week ending July 19, 2024, with its share price appreciating by 42.78 per cent to close the week at N40.55.
There was heightened interest in United Capital during the week, especially after the company announced it was going to pay interim dividends for the first time in its history.
In the week ending July 19, 2024, the NGX posted a 0.87 per cent gain to reach an All-Share Index of 100,539.4 points and a market capitalization of N56.93 trillion, its highest since mid-April.
Year to date, the NGX has produced a return of 34.46%, as the market overtook June’s inflation rate of 34.19 per cent.
United Capital’s share price moved from N28.40 to N40.55 to mark a 42.78 per cent appreciation. Throughout the week, approximately 75.7 million United Capital shares exchanged hands, driven by heightened investor interest following the company’s interim dividend announcement.
Year to date, United Capital has produced a return of 76.3 per cent.
Africa Prudential Plc’s share price also moved by 33.78 per cent during the week, from N7.40 to N9.90. And it was followed by Cutix Plc, which appreciated by 29.65 per cent to close the week at N5.99, from N4.62 at the start of the week.
Cutix Plc was one of the top traded stocks in the NGX during the week, with 232 million shares traded during the week.
Champion Breweries Plc posted a 12.09% gain during the week, followed by Oando with an 11.28% gain. Oando Plc has been on a bullish spree this year, posting a year-to-date return of 73.8 per cent.
NAHCO Plc posted a 9.44% gain, with its share price closing at N39.40. Learn Africa Plc posted a 9.38% gain, while Sunu Assurances Nigeria posted an 8.87% gain.
University Press plc posted an 8.66% gain, and The Initiates Plc posted a 7.50% to complete the top 10 gainers during the week.
Linkage Assurance Plc was the top decliner during the week, with a 24.56% decline, as its share price moved from N1.14 to N0.86. The stock has declined by 42.67% from its year-high price of N1.50.
Veritas Kapital Assurance also appeared on the losers list, with an 11.67% decline during the week.
In 2024, the stock has been one of the best performers on the NGX, with its decline signaling moves by investors to take profit on its high price.
Vitafoam declined 10.38% during the week and Chellarams declined 9.76%. McNichols Plc and the Nigerian Exchange Group declined by 9.01% and 8.37 per cent respectively.
Consolidated Hallmark Holdings declined by 8.28 per cent and FTN Cocoa declined by 6.40%.
Livestock Feeds Plc, one of the top gainers in the preceding week, appeared on the top decliners list this week, as it posted a 6.38 per cent decline.
Cornerstone Insurance completed the top 10 decliners list with a 6.16% decline.
In the week ending July 19, investors on the NGX traded a total of 2.827 billion shares valued at N42.366 billion across 44,277 deals. This is compared to the preceding week’s turnover of 2.765 billion shares worth N85.230 billion in 40,796 deals.
The Financial Services stocks dominated the activity chart by volume, with 2.179 billion shares worth N30.667 billion traded across 25,260 deals, accounting for 77.08% of the total equity turnover volume and 72.38% of its value.
