You are here: HomeBusiness2023 01 16Article 621467

Business News of Monday, 16 January 2023

Source: www.punchng.com

Stock investors record N446bn gain

Stock investors on the Nigerian Exchange ended the week with a gain of N446bn following sustained buying interest in the local bourse ahead of the 2022 fourth quarter financial year earnings result.

The Nigerian bourse at the close of trading last week ended bullish as market capitalisation increased by N446bn to N28.602tn from N28.156tn in a trading that opened on January 9, 2023, and closed on January 13, 2023.

Consequently, the All-Share Index appreciated by 2.52 per cent to close the week at 52,512.48 from 51,222.34.

Similarly, all other indices finished higher with the exception of NGX Insurance and NGX Growth indices which depreciated by 1.64 per cent from 179.03 to close at 1,871.84 and 4.40 per cent from 1,907.86 to 1,823.82 respectively.

According to a data by the NGX, a total turnover of 1.286 billion shares worth N29.634bn in 19,816 deals was traded by investors on the floor of the Exchange in the week under review, in contrast to a total of 921.856 million shares valued at N27.154bn that exchanged hands last week in 15,601 deals.

The Financial Services Industry (measured by volume) led the activity chart with 952.237 million shares valued at N9.728bn traded in 9,647 deals; contributing 74.07 per cent and 32.83 per cent to the total equity turnover volume and value respectively.

The Industrial Goods Industry followed with 92.864 million shares worth N8.510bn in 1,682 deals. The third place was the conglomerate industry, with a turnover of 54.568 million shares worth N96.654m in 754 deals.

Trading in the top three stocks namely FBN Holdings Plc, Sterling Bank Plc, and Guaranty Trust Holding Company Plc (measured by volume) accounted for 507.852 million shares worth N5.707bn in 2,585 deals, contributing 39.50 per cent and 19.26 per cent to the total equity turnover volume and value respectively.

Data by the local bourse showed that 51 stocks appreciated in price during the week, higher than 38 stocks in the previous week.

Twenty-seven stocks depreciated in price higher than 17 in the previous week, while 79 stocks remained unchanged, lower than 102 stocks recorded in the previous week.

Thomas Wyatt Nigeria Plc led the gainers log for the week with 52.58 per cent appreciation from N0.97 kobo per share to close at N1.48 kobo per share per share.

Chams Holding Company Plc recorded a 17.39 per cent growth from N0.23 kobo per share to close at N0.27,while recording a gain of N0.04 kobo per share, and the Associated Bus Company Plc recorded a gain of N0.04 kobo from N0.25 kobo per share to close at N0.29 kobo per share.

On the losers’ chart for the week, Chellarams Plc topped as its stock price fell by 33.66 per cent from N2.02 kobo per share to close at N1.34 kobo per share.

Chellarams Plc was closely followed by Royal Exchange Plc with a depreciation of 10.78 per cent from N1.02 kobo per share to close at N0.91 kobo per share. Abbey Mortgage Bank Plc lost N0.17 kobo from N1.70 kobo per share to close at N1.53 kobo per share.