BusinessDay
NigeriaDecides2023

Weekly market update 22nd-26th August 2022

The Nigerian equities market declined 4bps or 0.04% as the NGX-ASI closed at 49,682.15 points. Accordingly, the Year-To-Date (YTD) return of the market strengthened to 16.3% from 15.6% the previous trading day.

Across market indices under our purview, there was mixed performance as two indices posted green while three indices posted red. The Consumer Goods and Oil and Gas indices gained 51bps and 16bps respectively. The gains are largely accredited to NESTLE (+3.3%) and OANDO (+1.0%) respectively.

On the other hand, Banking index closed by declining 67bps, the Insurance and industrial Goods declined by 39bps and 1bps respectively. We attribute the losses to investors’ selloffs in UBN (-6.6%), LASACO (-4.9%) and WAPCO (-0.2%) respectively.

Top gainers in today’s trading session were led by JAPAULGOLD (+9.6%), MBENEFIT (+7.1%) and FCMB (+5.9%), while ELLALAKES (-10.0%), VITAFOAM (-9.7%) and NPFMCRFBK (-9.1%) emerged as today’s biggest losers.

For today’s trading activities, the total volume declined by 14.5% to 193.5mn units, while total value traded gained 67.9% to ₦4.6bn. JAIZBANK, FBNH and ACCESSCORP led the volume chart with 45.9mn units, 24.9mn units, and 18.9mn units respectively. On the other hand, NESTLE, FBNH and MTNN led the value chart by ₦3.1bn, ₦270.9mn and ₦263.6mn respectively.

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