Mecure Industries, Multiverse Mining and Exploration as well as Unity Bank of Nigeria, topped the table of listed companies that appreciated the most in price during the week that ended 24 November 2023. Mecure Industries opened the week at N5.73 per share but closed the week at N9.21 per share which translated to a weekly gain of N3.48 or an appreciation to the tune of 60.73 percent.
The principal business of Mecure Industries is the manufacturing of pharmaceutical products, distribution of pharmaceutical and multivitamin products. The company realised N21.58 billion as revenue as of September 2023 corresponding to its third quarter of the year. With cost of sales at N14.1 billion, Mecure ended the third quarter of this year with N7.48 billion as gross profit and a profit after tax of N1.99 billion.
Multiverse Mining and Exploration added N2.18 to its weekly opening price of N3.63 per share to end the week at N5.81 per share. This amounted to 60.06 percent appreciation in price. The first generated 388.1 million as revenue during the quarter ended September 2023. This compares to N402.87 million realised in the same period in 2022.
Proft for the period stood at N166.92 million as against N113.79 million realised in the comparable period of 2022. Multiverse recently appointed Ayodele Oluwasusi as the substantive managing director. The company also appointed Professor Abel Idowu Olayinka as the chairman of the board, following the retirement of Ayedun Fasina.
Unity Bank closed the week at N1.84 per share, having gained N0.67 in the course of the week. Its weekly gain amounted to 57.78 percent.
Other listed stocks on the weekly advancers’ chart are Secure Electronic Technology. This stock gained 19 kobo to close the week at N0.55 representing a weekly appreciation of 52.8 percent.
Deap Capital Management and Trust gained 25 kobo to close the week at N0.73 per share which translated to a weekly price appreciation of 52.1 percent.
Daar Communications gained 10 kobo to end the week at 39 kobo per share. Guinea Insurance appreciated by 10 kobo before it ended the week at N0.34. Also, Neimeth International Pharmaceuticals gained 63 kobo to close the week at N2.23 per share.
Veritas Kapital and Sovereign Trust Insurance gained 8 kobo and 9 kobo to close the week at N0.37 and N0.42 per share respectively.
On the other hand, Thomas Wyatt led the decliners’ chart as its share price fell by 42.22 percent to N1.52 per share. It was followed by Ellah Lakes which closed the week at N3.40 per share, having shed 38 kobo in the course of the week.
Stanbic IBTC Holdings shed N4.95 to close at N65 per share; Academy Press shed 10 kobo to close the week at N1.70 per share; International Breweries lost N2 to end the week at N4.25. Nigerian Breweries shed N2 to end the week at N38 per share.
NPF Microfinance Bank shed 10 kobo to close at N2 per share. Champion Breweries dropped 15 kobo to close the week at N 3.45; CWG lost 33 kobo to close the week at N7.62 kobo, while Prestige Assurance shed 2 kobo to close the week at 53 kobo.
Equity turnover rises
Investors traded more equities during the week ended November 24. According to market data, a total of 2.425 billion shares worth N22.665 billion in 33,230 deals. That was against 2.025 billion shares market players transacted in the previous week which amounted to N27.693 billion in 32,763 deals.
The most traded stocks last week were Universal Insurance, Veritals Kapital Assurance and Unity Banks.
Exchange Traded Product (ETP) witnessed an uptick in activity as a total of 135,257 units were traded worth N22.34 million in509 deals. That was against 36,548 units valued at N4,610 million in the previous week.
Meanwhile, bond turnover was lower as 3,613 units valued at N3.71 million were traded as against 87,570 units worth N80.85 million in 54 deals.
“Fifty-nine (59) equities appreciated in price during the week, higher than fifty-four (54) equities in the previous week. Twenty-one (21) equities depreciated in price lower than thirty (30) in the previous week, while seventy-six (76) equities remained unchanged, higher than seventy-two (72) recorded in the previous week,” NGX stated.
All Share Index keeps rising
The All-Share Index rose to 38.98 percent at the end of the week ended November 24. Apart from AseM, which closed at -o.07 percent; NGX Sovereign Bond Index, -8.59 percent, and NGX Pension Board Index, 0.00 percent, all other sub sectoral indices not only closed in the positive territory, they have posted double digits returns year to date.
The most performing sub sectoral indices are the NGX Growth Index, 191.08 percent; NGX AFR Div Yield Index, 118.01 percent; NGX Consumer Goods Index, 94.66 percent, and the NGX MERI Value Index, 91.23 percent