NGX: Equities investors earn N323bn WoW amidst reduced activities

Equities investors at the Nigerian Exchange Limited (NGX), last week earned N323 billion as the benchmark index inched up by 1.37 per cent.

At the end of the five-days trading activities at the local bourse, the All-Share Index rose by 1.37 per cent to close at 44,454.67 basis points, just as the market capitalisation closed at N23.951 billion, having gained N323 billion Week-on-Week (WoW).

Given the bullish sentiment over the week under review, most sector gauges closed in green. The NGX Oil & Gas, NGX Banking and the NGX Industrial indices rose by 1.74 per cent, 0.75 per cent and 3.56 per cent respectively to close at 360.41 points, 412.30 points and 2,086.99 points respectively.

On the other side, the NGX Consumer Goods index and the NGX Insurance indices lost 1.54 per cent and 4.35 per cent to close at 193.23 points and 558.72 points respectively.

However, market breadth for the week was negative as 33 equities appreciated in price, 35 equities depreciated in price, while 88 equities remained unchanged.

On the performance chart for the week, BUA Foods led the gainers’ table by 24.06 per cent to close at N66.00 per share. Transnational Corporation of Nigeria followed with a gain of 16.33 per cent to close at N1.14, while Jaiz Bank went up by 15.25 per cent to close to 68 kobo, per share.

On the other hand, SUNU Assurance Nigeria topped the decliners table by 16.22 per cent to close at 31 kobo per share. Mutual Benefits Assurance followed with a loss of 12.90 per cent to close at 27 kobo, while Berger Paints declined by 9.94 per cent to close at N7.70, per share.

Activities at the Exchange was however unimpressive as a total turnover of 1.600 billion shares worth N32.716 billion in 22,607 deals was traded by investors on the floor of the Exchange, in contrast to a total of 2.027 billion shares valued at N59.014 billion that exchanged hands in 15,750 deals in the penultimate week.

The Financial Service Industry, measured by volume, led the activity chart with 731.264 million shares valued at 6.517 billion traded in 10,822 deals; contributing 45.71 per cent and 19.92 per cent to the total equity turnover volume and value respectively. The Conglomerate Industry followed with 403.646 million shares worth N 452.909 million in 1,537 deals, while the Consumer Goods Industry pulled a turnover of 314.768 million shares worth N17.759 billion in 4,101 deals.

Transcorp, BUA Foods, Jaiz Bank were the most traded equities for the week as they accounted for 775.685 million shares worth N16.625 billion in 2,644 deals, contributing 48.49 per cent and 50.82 per cent to the total equity turnover volume and value respectively.

Looking ahead into the week, analysts believed that the bourse would sustain positive stance, especially on the premise of Dangote Cement Plc shares buy-back programme and positioning for 2021 full-year financial results.

“In the short term, we expect the bulls to retain dominance in the market given positioning for 2021FY dividends as institutional investors continue to search for clues on the direction of yields in the FI market. Notwithstanding, we advise investors to take positions in only fundamentally justified stocks as the weak macro environment remains a significant headwind for corporate earnings, Cordros analyst said in its report.

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NGX: Equities investors earn N323bn (WoW) amidst reduced activities