Nigerian stocks on 6-day gaining streak, investors gain N154.4 billion WoW

The Nigerian bourse closed the trading session for the week cumulatively bullish. The NSE All-Share Index appreciated by 0.35% to close the week at 25,309.37. Stock market capitalization stands at N13.203 trillion, and investors gained N154.43 billion WoW.

A total turnover of 1.072 billion shares worth N7.384 billion in 16,684 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 950.414 million shares valued at N10.123 billion that exchanged hands last week in 16,647 deals.

The Financial Services industry (measured by volume) led the activity chart with 586.761 million shares valued at N4.022 billion traded in 8,483 deals; thus contributing 54.76% and 54.47% to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 307.744 million shares worth N799.159 million in 1,010 deals. In the third place was the Consumer Goods industry, with a turnover of 50.170 million shares worth N968.272 million in 3,018 deals.

Trading in the top three equities, namely Transnational Corporation of Nigeria Plc, UACN Plc, and United Bank for Africa Plc (measured by volume), accounted for 396.337 million shares worth N1.373 billion in 1,845 deals, contributing 36.99% and 18.59% to the total equity turnover volume and value respectively.

29 equities appreciated in price during the week, lower than 31 equities in the previous week. 36 equities depreciated in price, higher than 27 equities in the previous week, while 98 equities remained unchanged, lower than 105 equities recorded in the previous week.

Top 10 gainers for the week

  • UNIVERSITY PRESS PLC up 31.45% to close at N1.63
  • FTN COCOA PROCESSORS PLC up 20.00% to close at N 0.24
  • CHAMPION BREW. PLC up 19.23% to close at N0.93
  • NEM INSURANCE PLC up 14.97% to close at N2.15
  • P Z CUSSONS NIGERIA PLC up 9.09% to close at N4.20
  • UNITY BANK PLC up 7.69% to close at N0.56
  • AXAMANSARD INSURANCE PLC up 7.60% to close at N1.84
  • UNILEVER NIGERIA PLC up 7.53% to close at N15.00
  • WAPIC INSURANCE PLC up 6.06% to close at N0.35
  • FCMB GROUP PLC up 5.91% to close at N2.15

Top 10 losers for the week

  • BETA GLASS PLC down 9.99%  to close at N55.40
  • ARBICO PLC down 9.52% to close at N1.14
  • C & I LEASING PLC down 9.09% to close at N4.00
  • CONSOLIDATED HALLMARK INSURANCE PLC down 8.11% to close at N0.34
  • CUTIX PLC down 7.89% to close at N1.75
  • FIDSON HEALTHCARE PLC down 7.25% to close at N3.71
  • NEIMETH INTERNATIONAL PHARMACEUTICALS PLC down 7.00% to close at N1.86
  • GUINNESS NIG PLC down 6.91% to close at N14.15
  • AFRICA PRUDENTIAL PLC down 6.67% to close at N4.20
  • TRANSNATIONAL CORPORATION OF NIGERIA PLC down 6.56% to close at N0.57

Outlook

The Nigerian stock market finished the trading week on an impressive note. That said, it should be noted that the bourse was all bullish throughout the trading week, as local investors increased their buying pressures on blue-chip stocks which include MTN, GTBank, Zenith Bank, Unilever, and not forgetting some tier 2 banks (Unity Bank and FCMB).

The recent stability in the foreign exchange market also provided the needed market confidence in boosting market liquidity relatively.

However, Bigwig FX envisages cautious buying of stocks amid the gaining streak of Nigerian Stocks, as it’s expected that investors will take profits in subsequent trading days ahead.



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