Nigerian Stock Market Posts 6th Consecutive Weekly Gain, Market Cap Appreciates By N169 Billion

The Nigerian stock market traded bullish in the week ended 22nd October 2021, as the all-share index appreciated by 0.78% to close at 41,763.26 points while investors in the equities market gained over N169 billion during the week.

Specifically, the market capitalization of the equities market increased by 0.78% from N21.63 trillion recorded as of the end of the previous week to close at N21.94 trillion in the review period.

This is according to information contained in the weekly stock market report, released by the Nigerian Exchange Group. The recent increase in the market represents the 6th consecutive weekly appreciation recorded by the Nigerian bourse.

Equity market performance
A total of 1.57 billion shares worth N18.38 billion in 21,621 deals were traded during the week by investors on the floor of the Exchange, compared to a total of 2.84 billion shares valued at N31.65 billion that exchanged hands the previous week in 23,355 deals.

The decline could be attributed to the public holiday declared by the federal government on Tuesday 19th October 2021 to commemorate the Islamic festival of Eid-el-Maulud.

The Financial Services Industry led the activity chart in terms of volume of traded shares with 1.18 billion shares valued at N12.75 billion, traded in 13,272 deals, contributing 75.38% and 69.33% to the total equity turnover volume and value respectively.

ICT Industry followed with 131.59 million shares worth N2.15 billion in 636 deals; while the Conglomerates Industry stood in third place with a turnover of 110.828 million shares worth N 262.227 million in 928 deals.

The top three traded equities during the week were FBN Holdings Plc, E-Tranzact International Plc and Access Bank Plc, representing 626.89 million units of shares worth N6.3 billion in 3,677 deals, contributing 40.07% and 34.29% to the total equity turnover volume and value respectively.

However, all other indices finished lower with the exception of NGX Main Board, NGX 30, NGX Banking, NGX Oil/Gas, NGX Industrial Goods and NGX Sovereign Bond indices which appreciated by 1.64%, 0.80%, 0.69%, 1.40%, 2.59% and 0.03% respectively, while the NGX ASeM Index closed flat.

It is worth noting that, 34 equities appreciated in price during the week, lower than 45 equities in the previous week. Also, 36 equities depreciated in price, higher than 15 equities in the previous week, while eighty-six (86) equities remained unchanged lower than 95 equities recorded in the previous week.

Top losers for the week

Top losers for the week

Exchange-Traded Products (ETPS)
A total of 549 units valued at N10,680 were traded this week in 7 deals compared with a total of 135,084 units valued at N2.04 million transacted last week in 17 deals.

The traded securities include MERVALUE, VETINDETF, STANBICETF 30, VETBANK, and VETGOODS.

Fixed Income Securities Market
A total of 12,256 units valued at N12.227 million were traded this week in 19 deals compared with a total of 19,603 units valued at N21.192 million transacted last week in 19 deals.

During the week the federal government announced the listing of two FGN Savings Bonds issued in October 2021 with coupon rates of 6.899% and 7.899% for the 2 years and 3 years tranche respectively.