BusinessDay

Video: Weekly market update

The Nigerian equity market closed last week’s trading session with a contraction, declining by 33bps as the NGX-ASI closed at 49,026.62 points. Consequently, the Year-To-Date (YTD) return of the market weakened to 14.8% from 15.2% the previous trading day.

The top gainers in today’s trading session were led by VITAFOAM (+6.9%), RT BRISCOE (+6.1%) and ACCESS CORP (+6.0%), while CWG (-10.0%), BERGER (-9.9%) and ETERNA (-9.5%) emerged as today’s largest losers.

For today’s trading activities, the total volume and total value traded grew by 33.4% and 79.2% respectively to 169.2mn units and ₦3.2bn. COURTVILLE, NGX GROUP and ZENITH BANK led the volume chart with 27.7mn units, 24.5mn units, and 20.8mn units respectively. On the other hand, BUA CEMENT, NGX GROUP and ZENITH BANK led the value chart by ₦469.8mn, ₦417.4mn and ₦416.8mn respectively.

In last week’s trading session, the local bourse closed in red as it declined by 91bps or 0.91%, albeit sectors under our purview experienced a largely bearish performance as four indices posted red save the Banking sector which gained 2.3% week-to-date (WTD).

The highest decliner was the Oil and Gas sector, which contracted by 4.7% WTD, and closed the week with value traded at ₦91.0mn and volume traded amounting to 1.3mn units. This is followed by the Industrial Goods sector which declined by 3.9%, with volume and value traded closing at 5.8mn units and ₦4.2mn.
Also, the Insurance and Consumer Goods sectors declined by 2.1% and 0.2% respectively. The volume at the end of the week traded for both sectors closed at 5.9mn units and 12.0mn units while and value traded closed at ₦199.7mn and ₦503.9mn respectively.

Furthermore, the local bourse closed at 49,026.62 points as against opening at 49,190.34 points, yielding a lapse in WTD growth by 91bps or 0.9%. Also, the Month-to-date (MTD) posted red as it declined by 163bps or 1.6%. However, the Year-to-Date (YTD) return of the market gained 14.7% or 1,447bps.

The market’s capitalisation closed at ₦26.4 trillion shedding about ₦241.6 billion. We attribute the loss to investors’ selloffs in the Oil and Gas sector (-4.7%), Industrial Goods sector (-3.9%) and Insurance sector (-2.1%) and sectors.

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