Recovering from the previous session’s loss, the domestic bourse posted gains as the benchmark index rose by 0.16 percent to close at 66,548.99 points, as the close of the stock market yesterday. According to Coronation Registrars Limited analysis of yesterday’s market closing, gains in GTCO (+1.10%), SEPLAT (+9.95%), and STANBIC (+3.67%) contributed to outweigh losses in WAPCO (-0.17%), DANGSUGAR (-5.66%), and INTBREW (-6.52%), keeping the market in the green.
Accordingly, the market is on track for a week of gain. Consequently, the year-to-date (YTD) return rose to 29.85 percent, while market capitalization gained N59.91 billion to close at N36.42 trillion.
Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 7.83 percent. A total of 620.98 million shares valued at N7.18 billion were exchanged in 7,972 deals. STERLINGNG (+0.60%) led the volume chart with 160.99 million units traded while TRANSCORP (-3.80%) led the value chart in deals worth N847.54 million.
Market breadth closed positive at a 1.11-to-1 ratio with advancing issues outnumbering declining ones. NGXGROUP (+10.00%) topped 19 others on the leader’s table while MULTIVERSE (-10.00%) led 17 others on the laggard’s log.
As the trading week comes to an end, summary of equity of the week ended August 25, 2023, showed a total turnover of 1.812 billion shares worth N29.299 billion in 31,163 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.689 billion shares valued at N29.407 billion that exchanged hands last week in 29,477 deals.
The Financial Services Industry (measured by volume) led the activity chart with 936.685 million shares valued at N10.116 billion traded in 12,886 deals; thus contributing 51.68 percent and 34.53 percent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 461.589 million shares worth N2.333 billion in 3,451 deals. The third place was the Consumer Goods Industry, with a turnover of 127.310 million shares worth N5.003 billion in 5,792 deals.
Trading in the top three equities namely Transnational Corporation Plc, Fidelity Bank Plc and Access Holdings Plc (measured by volume) accounted for 693.533 million shares worth N5.030 billion in 5,450 deals, contributing 38.26 percent and 17.17 percent to the total equity turnover volume and value, respectively.
While on bonds, a total of 103,716 units valued at N107.327 million were traded in 30 deals compared with a total of 292,995 units valued at N294.933 million transacted the previous week in 48 deals. However, stakeholders believe these dynamics will slightly change this week.