Investors on the Nigerian Exchange Ltd. traded a total of 2.200 billion shares valued at N75.409 billion in 70,329 deals during the trading week ended Friday, May 3, 2024.
This marked a notable increase in both volume and value when compared to the previous week, where 1.854 billion shares worth N56.025 billion were exchanged in 51,386 deals.
The improved performance represented a 34.6 per cent increase in transaction value, with investors gaining N19.384 billion on the Exchange within the week.
Trading took place over four sessions, as the market was closed on Thursday, May 1, in observance of the Workers’ Day public holiday.
Sectoral Breakdown: Financial Services Dominates
The Financial Services sector led trading activity, contributing significantly to the market volume and value. A total of 1.432 billion shares valued at N30.908 billion were traded in 33,095 deals within the sector. This represented 65.09 per cent of the total volume and 40.99 per cent of the total value of shares traded during the week.
Following the Financial Services sector, the ICT sector recorded 230.248 million shares worth N27.453 billion in 4,811 deals. The Consumer Goods sector ranked third, with 166.345 million shares valued at N4.708 billion traded in 8,284 deals.
Top Traded Stocks: Fidelity, Access, and UBA in the Lead
Fidelity Bank, Access Holdings, and United Bank for Africa were the most actively traded equities, jointly accounting for 704.639 million shares valued at N16.757 billion in 10,466 deals. These three stocks alone contributed 32.03 per cent of the total volume and 22.22 per cent of the total value traded during the week.
Market Indices: Slight Gains Amid Mixed Sentiment
The NGX All-Share Index rose by 0.27 per cent to close the week at 106,042.57 points, while the Market Capitalisation appreciated by 0.28 per cent to settle at N66.648 trillion.
However, the market performance was mixed, with most indices recording gains except for a few which declined. Indices that closed in the red include:
* NGX Banking Index: -0.38%
* NGX Insurance Index: -2.89%
* NGX AFR Bank Value Index: -0.04%
* NGX MERI Value Index: -2.08%
* NGX Oil & Gas Index: -2.90%
* NGX Lotus I1 Index: -0.01%
* NGX Sovereign Bond Index: -0.19%
* NGX Commodity Index: -1.12%
Gainers and Losers: Fewer Gainers, More Decliners
The number of gainers declined to 52 equities, down from 64 in the previous week, while the number of losers increased to 37 from 27. Fifty-nine equities closed flat, slightly up from 57 in the prior week.
Top Five Gainers:
* Associated Bus Company: Gained 70k, up 44.87%
* Legend Internet Technology: Gained N2.21, up 32.40%
* Fidson Healthcare: Gained N4.25, up 22.85%
* University Press: Gained 71k, up 20.88%
* Nigerian Aviation Handling Company: Gained N13.85, up 20.17%
Top Five Decliners:
* Ecobank Transnational Inc.: Lost N6.00
* Multiverse Mining and Exploration: Lost N1.45
* Livestock Feeds Plc: Lost N1.01
* Aradel Holdings: Lost N49.00
* Tripple Gee and Company: Lost 19k
The Nigerian capital market closed the week on a slightly bullish note, with increased investor participation and optimism driven by sector-specific performances, especially in banking and ICT stocks.
