February 1, 2023


The Nigerian equities market closed bullish during the week as the All-Share Index appreciated by 3.11%.

This is according to the information contained in the weekly stock market report, released by the Nigerian Exchange Group and seen by Nairametrics.

The benchmark index, ASI, appreciated by 3.11% from 49,706.09 points recorded as of the end of last week to close the week at 51,251.06 index points, while the market capitalization followed suit to close at N27.915 trillion.  

This brings the month-to-date performance of the Nigerian stock market to 7.53% and a year-to-date gain of 19.98%.  

Equity market performance  

A total of 1.880 billion shares valued at N18.988 billion were traded during the week across 12,036 deals on the floor of The Exchange. This is greater than the 860.933 million units of shares valued at N16.134 billion that exchanged hands in the previous week in 14,502 deals.  

Similar to the previous week, the Financial Services Industry led the activity chart in terms of volume of shares traded with 1.719 billion shares valued at N8.755 billion traded in 6,172 deals; thereby contributing 91.42% and 46.11% to the total equity turnover volume and value respectively.  

The Conglomerates Industry followed with 27.506 million shares worth N79.195 million in 355 deals, while the Oil and Gas Industry stood in third place with a turnover of 24.367 million shares worth N2.203 billion in 758 deals.  

Trading in the top three equities by volume namely SOVERENINS, VERITASKAP, and FBNHOLDINGS accounted for 1.149 billion shares worth N3.469 billion in 295 deals, contributing 61.11% and 18.27% to the total equity turnover volume and value respectively.  

Similarly, 13 indexes finished higher, while 4 indexes finished lower except for NGX ASeM and NGX Sovereign Bond Index which remained unchanged.  

Top Gainers  

  • CWG up + 31.17% to close at N1.01  
  • GEREGU up + 29.00% to close at N149.00  
  • WEMA BANK up + 21.12% to close at N3.90 
  • CORNERST up + 20.00% to close at N0.60  
  • THOMASWY up + 19.75% to close at N0.97  

Top Losers  

  • LIVESTOCK down – 8.40% to close at N1.09  
  • FBNHOLDINGS down – 7.63% to close at N10.90 
  • FIDELITYBK down – 6.45% to close at N4.35 
  • VITAFOAM down – 5.98% to close at N20.45 
  • COURTEVILLE down – 4.17% to close at N0.46 

Summary  

Forty-four (44) equities appreciated during the week, higher than forty-one (41) equities in the previous week. Sixteen (16) equities depreciated lower than seventeen (17) in the previous week, while ninety-seven (97) equities remained unchanged, lower than ninety-nine (99) equities recorded in the previous week. 



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