The bears took over the Nigerian stock market in the week ended 5th November 2021, after enjoying six consecutive weeks of bullish reign in the local bourse. The All-Share Index, which is used to measure the performance of the market declined by 0.06% to close at 42,014.5 points at the end of the week.
This is according to information contained in the weekly stock market report, released by the Nigerian Exchange Group.
The All-Share Index dropped from 42,038.6 points recorded at the end of the previous week to 42,014.5, representing a 0.06% decline. In the same vein, the total equities market capitalization declined by 0.06% to close at N21.93 trillion. Meanwhile, in terms of year-to-date performance, the stock market has gained 4.33% while quarter-to-date stood at 4.46% as of the end of the review week.
Equity market performance
The equity market recorded trades of 1.43 billion shares valued at N12.37 billion in 23,987 deals traded at the close of the week by investors on the floor of the exchange. This represents a drop compared to 3.001 billion shares at N34.55 billion that was traded in 25,932 deals in the previous week.
The Financial Services Industry led the activity chart by volume with 1.01 billion shares valued at N7.99 billion traded in 12,208 deals hereby contributing 70.75% and 64.60% to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 94.73 million shares worth N207.83 million in 878 deals. The third place was the Consumer Goods Industry, with a turnover of 62.779 million shares worth N1.326 billion in 3,814 deals.
Trading in the top three equities for the week were FBN Holdings Plc, Sterling Bank Plc and United Bank for Africa Plc jointly accounting for trading in 402.93 million shares worth N3.06 billion in 3,208 deals, contributing 28.22% and 24.76% to the total equity turnover volume and value respectively.
For the week under review, all other indices closed negatively with the exception of NGX Main Board, NGX Insurance, NGX MERI Growth, NGX Lotus II and NGX Industrial Goods indices. The mentioned indices saw an appreciation of 0.32%, 0.99%, 0.09%, 0.15% and 0.88% respectively while the NGX ASeM Index closed flat at the end of the trading week.
In the review week, 23 equities appreciated in price, in contrast to a total of 47, which appreciated in the previous week. On the flip side, 43 equities depreciated in price as against 25 equities recorded in the previous week, 90 of the listed stocks remained unchanged. This is higher than 84 equities in the previous week.
Okomu Oil Palm Plc’s stock was reclassified during the week from Medium Price Stock Group to High Price Stock Group. Okomu Oil Palm Plc stock price appreciated above the N100 price level on June 8, 2021, and traded above N100 up till the close of business on October 22, 2021. This indicates that Okomu Oil Palm Plc stock price has traded above N100 in at least 4 months out of the last 6 months.
As a result of this, the company has been reclassified to the High-Priced Stock Group with effect from Wednesday, November 3, 2021.
Exchange-Traded Products (ETPS)
A total of 252,857 units valued at N3.83 million were traded this week in 31 deals compared with a total of 186,360 units valued at N3.25 million transacted last week in 16 deals.
The traded securities include VETGRIF30, VETGOODS and NEWGOLD.
Fixed Income Securities Market
A total of 32,626 units valued at N33.332 million were traded this week in 16 deals compared with a total of 47,577 units valued at N50.350 million transacted last week in 32 deals.