October 23, 2021

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CAPITAL MARKET IN THE WEEK ENDING SEPTEMBER: LEADING COMPANIES BY EQUITY

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The leading three equities that blazed the trail last week were in the hospitality, consumer goods and financial services sectors namely, Transcorp Hotels Plc, Honeywell Flour Mill Plc and FBN Holdings Plc.
Taking cognizance of the fact that market opened for four trading days last week as the Federal Government of Nigeria observed Friday the 1st of October 2021 as Public Holiday to mark the Nation’s 61st Independence Anniversary
In the trading week ending the month of September, volume of trading accounted for 1.494 billion shares worth N6.944 billion in 1,017 deals, contributing 68.33 per cent and 42.91 per cent to the total equity turnover volume and value respectively
A total of 160,433 units valued at 52.347 million were traded last week in 23 deals compared with a total of 9,728 units valued at N437,821.70 transacted last week in 18 deals.
In the last week trading that ended on Thursday, 30th September, a total turnover of 2.187 billion shares worth N16.183 billion in 14,377 deals were traded by investors on the floor of the Exchange, in contrast to a total of 1.290 billion shares valued at N13.921 billion that exchanged hands upper week in 16,745 deals.

The Financial Services Industry (measured by volume) led the activity chart with 778.434 million shares valued at N5.591 billion traded in 7,183 deals. Thus contributing 35.60% and 34.55% to the total equity turnover volume and value respectively. The Services Industry followed with 775.712 million shares worth N2.909 billion in 416 deals.

The third place was Consumer Goods Industry, with a turnover of 448.662 million shares worth N3.999 billion in 2,257 deals.

A total of 41,267 units of Bonds valued at N42.568 million were traded last week in 17 deals compared with a total of 60,929 units valued at N62.810 million transacted upper week in 27 deals.

The NGX All-Share Index and Market Capitalization appreciated by 3.23 per cent and 3.57 per cent to close
the week at 40,221.17 and N20.956 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX Insurance index which depreciated by 7.58 per cent, while the NGX ASeM and NGX Growth Indices closed flat.

A total of 33 equities appreciated in price last week, higher than 28 in the previous week, even as 22 equities depreciated in price, lower than 23 in the previous week, while 100 equities remained unchanged
lower than 104 recorded in the previous week.
EXPECTATIONS
As a new trading week commences today Monday, 4th October, expectation is rife and very high that the market will experience a rebound.
Various pledges and promises by government to tackle general air of insecurity that pervades the country, and the cautious management of the nation’s foreign exchange supply nay the value of the naira are all optimistically expected to positively impact the capital market.
The market performance at the end of trading today could provide the signal to a market that will flourish again and continue to assure investors of a market with enormous potential to growth and prosperity for all that play the game according to the rule.

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