Despite the shortened trading week, the equities market of the Nigerian Exchange Limited (NGX) rebounded from its three-week bearish trend as the NGX All-Share index advanced by 0.11 per cent Week-on-Week (WoW) to end trading activities for the week.
The market was opened for four trading days this week as the federal government declared Monday, October 2, 2023, as a Public Holiday to commemorate the 2023 Independence Day celebration.
The NGX All-Share index gained 0.11 per cent W-o-W to close at 66,454.57 basis points. Similarly, market capitalisation shed N179 billion W-o-W to close at N36.510 trillion.
The positive performance was driven by gains on Airtel Africa and BUA Cement. From a sectoral viewpoint, the NGX Banking index recorded a weekly gain of 1.4 per cent, while the NGX Consumer Goods index rose by 0.2 per cent. On the other side, the NGX Insurance index declined by 3.1 per cent W-o-W and the NGX Industrial Goods index shed 1.4 per cent. The Oil and Gas index was unchanged for the week.
Also, market breadth for the week was positive as 40 equities appreciated in price, 36 equities depreciated in price, while 79 equities remained unchanged. FTN Cocoa Processors led the gainers table by 19.21 per cent to close at N1.80 per share. RT Briscoe followed with a gain of 16.33 per cent to close at 57 Kobo, while Oando went up by 14.65 per cent to close at N9.00, per share.
Africa Prudential appreciated 11.90 per cent to close at N7.05, while Thomas Wyatt Nigeria was up 11.46 per cent to close at N2.14, per share.
On the other side, Consolidated Hallmark Insurance led the decliners table by 19.05 per cent to close at N1.02, per share. Associated Bus Company followed with a loss of 17.72 per cent to close at 65 Kobo, while UPDC Real Estate Investment Trust declined by 10.26 per cent to close at N3.50, per share.
Champion Breweries shed 9.87 per cent to close at N3.3865, while Chellaram deprecated by 9.84 per cent to close at N3.48, per share.
Overall, a total turnover of 2.410 billion shares worth N22.115 billion in 27,965 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.339 billion shares valued at N17.916 billion that exchanged hands last week in 27,874 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.261 billion shares valued at N9.660 billion traded in 12,897 deals; thus contributing 52.31 per cent and 43.68 per cent to the total equity turnover volume and value respectively. The Healthcare Industry followed with 667.197 million shares worth N1.092 billion in 437 deals, while the Oil and Gas Industry traded a turnover of 162.005 million shares worth N1.778 billion in 2,612 deals.
Trading in the top three equities namely Neimeth International Pharmaceutical, Universal Insurance and Fidelity Bank (measured by volume) accounted for 1.213 billion shares worth N2.322 billion in 1,095 deals, contributing 50.35 per cent and 10.50 per cent to the total equity turnover volume and value respectively.
Meanwhile, a total of 898,301 units valued at N25.895 million were traded this week in 107 deals compared with a total of 19,020 units valued at N2.007 million transacted last week in 91 deals. Also, a total of 46,199 units valued at N46.064 million were traded this week in 23 deals compared with a total of 80,697 units valued at N82.919 million transacted last week in 15 deals.
The NGX listed the entire issued and fully paid 190.027 million ordinary shares of VFD Group Plc on the Main Board of the Exchange, adding a total capitalisation of N45 billion to the overall market capitalisation, further boosting liquidity in the Nigerian capital market and providing opportunities for wealth creation.