The week ended bearish at the Nigerian equities market, as the NGX All-share Index (ASI) which is the benchmark index measuring the average performance of stocks on the Nigerian Exchange, declined by 0.12% to close at 37,947.18 points.
Investors lost about N25 billion this week on aggregate as the market capitalisation dipped from N19.79 trillion in the previous week to N19.77 trillion at the close of the markets.
According to the market performance report of the NGX for the week ended 16th July 2021, only 29 equity stocks gained during the week, which is less than the 44 winners recorded in the previous week. Conversely, 32 equities dropped in value, which is higher than last week's 22 equities, while 95 equities remained unchanged — higher than last week's record of 90.
Investors were less active this week on the equities market, as there were fewer deals (17,297 compared to last week's 21,581), lower trade volumes (1.01 billion shares compared to last week's 1.35 billion), and a drop in total trade value (N10.92 billion as against N12.14 billion).
The financial services sector was the most active with a total volume of 732.418 million shares valued at N7.21 billion traded in 9,131 deals. Trading activities in the financial services industry alone accounted for 72.62% and 66.04% of the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 52.93 million shares worth N170.27 million in 656 deals, while the ICT Industry came third with a turnover of 52.716 million shares worth N1.806 billion in 701 deals.
Guaranty Trust Holding Company Plc, United Bank for Africa Plc, and Zenith Bank Plc were the three most traded equities on the stock market this week. In aggregate, they traded 261.74 million units of shares worth N5.81 billion in 3,498 deals, contributing 25.95% and 53.22% to the total equity turnover volume and value respectively.
Only five indices appreciated this week, which are NGX Banking(+0.09%), NGX AFR Div Yield (+0.32%), NGX MERI Growth (+0.15%), NGX Oil/Gas (+1.81%), and NGX Sovereign Bond indices (0.64%).
The NGX Premium, NGX ASeM, and NGX Growth Indices closed flat, while all other indices declined along with the NGX ASI.
There was a significant drop in the trading of ETFs this week. A total of 7,403 units were traded, 78.3% less than the 34,123 units traded in the prior week. Also, the value of units traded declined by 37.9% week-on-week from N784,264.645 in the prior week to N486,759.25 as of July 16, 2021.
The 7 ETFs traded during the week are STANBICETF30, MERVALUE, NEWGOLD, LOTUSHAL15, VETBANK, VETGOODS, and VETGRIF30.
On Thursday, 15th July 2021, a N10,000,000,000 Senior Secured bond due 2028 under the C&I Leasing Plc’s N20 Billion Bond Issuance Programme, with a tenor of 7 years and on the fixed interest rate basis of 15.5% was listed on the Exchange.
A total of 29,583 units valued at N29.81 million were traded this week in 12 deals compared with a total of 147,59 units valued at N173.17 million transacted last week in 15 deals.
The bonds transacted during the week were; FGSUK2027S3, FG132036S2, FGS202160, FG9B2022S1, and FGSUK2025S2.