Financial Services Stocks Dominate NGX Turnover By 58%
The Nigerian Equities Market kicked off the first trading session of the week on a positive note as the benchmark NGXASI gained 17bps to close at 71,353.81 points from 71,230.58 points in the previous session.

The day’s positive performance was primarily driven by investors’ buy interest in major stocks, amongst which were ACCESSCORP (+4.32%), ZENITHBANK (+1.73%), FBNH (+10.00%), UBA (+1.44%), TRANSCORP (+4.50%) and 27 other stocks which kept the All-Share-Index in the positive terrain.

Consequently, the year-to-date returns rose to 39.22%, while the overall market capitalization declined by 34 basis points as investors’ fortunes decreased by N132.43 billion.

Market activity for the day was positive as volume and value traded increased by 28.12% and 39.81% to reach 746.67 million units, and N5.94 trillion, respectively.

The Nigerian Naira depreciated by 2.48% against the US Dollar in the NAFEM Window, closing at a rate of N814.60/USD.

Equities Market Closed Positive; NGXASI Gained 17bps; Investors Lost N132.43 billion; NGXASI Stands at +39.22% (YTD); Naira Depreciated by 2.48% to N814.60/(USD)

Positive sentiment in the market on Monday was driven by banking stock even as FBNH topped the gainer’s chart with a 10.00% appreciation.

The All-Share Index appreciated by 0.17% to close at 71,353.81 points even as the market capitalization depreciated by N132 billion to close at N39.04 billion.  

There was an uptick in the volume of trade in the market as 746.67 million units were traded compared to 582.77 million units last Friday. There was also an uptick in the value of trade to N5.945 billion compared to last Friday’s N4.27 billion. 

Market Indices  

Here are the market Indices for Monday 27 November, 2023 trading session 

  • NGX All-Share Index: 71,353.81 points 
  • % Day Change: +0.17% 
  • Day’s Lowest: 70,810.51 points 
  • Day’s Highest: 71,566.58 points 
  • % YTD: +39.22% 
  • Market Cap: N39.04 trillion 
  • Volume Traded: 746.67 million 
  • Value: N5.95 billion 
  • Deals: 9,267 

Top Gainers   

JOHNHOLT: +10.00% to close at N1.87 

FBNH: +10.00% to close at N22.00 

Top Losers 

ETRANZACT: -9.46% to close at N6.70 

UNITYBNK: -9.24% to close at N1.67 

OMATEK: -9.09% to close at N0.90 

RTBRISCOE: -8.96% to close at N0.61  

GUINEAINS: -5.88% to close at N0.32 

Top Traded Stocks   

In terms of volume traded, UNIVINSURE (+3.57%) led with 168.098 million units, followed by ACCESSCORP (+4.32%) with 81.5 million units, UNITYBNK (-9.24%) with 67.7 million units, VERITASKAP (+5.41%) with 45.9 million units, and TRANSCORP (+4.50%) with 44.5 million units.  

In terms of value, ACCESSCORP (+4.32%) led with N1.47 billion, followed by UBA (+1.44%) with N646.2 million, ZENITHBANK (+1.73%) with N453.4 million, FIDELITYBK (-1.11%) with N394.1 million, and MTNN (0.00) with N328.8 million.  

SWOOTs and FUGAZ Update 

Trading was relatively flat for the stocks worth over one trillion, as BUAFOODS (-1.92%) and GTCO (-0.39%) recorded a price decline, while ZENITHBANK (+1.73%) recorded a price gain. BUACEMENT, AIRTELAFRI, MTNN, SEPLAT, and DANGCEM recorded no price changes.  

After the announcement of a possible recapitalization exercise, Tier-1 banks also recorded positive sentiments in the market, as ZENITHBANK (+1.73%), UBA (+1.44%), ACCESSCORP (+4.32%), and FBNH (+10.00%) recorded price gains while only GTCO (-0.39%) recorded a price decline.  


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