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WEEKLY MARKET PERFORMANCE REPORT FOR THE WEEK ENDED MARCH 22ND, 2024

25
Mar

Market Review for the Week Ended March 22, 2024

The equity market on the floor of the Nigerian Stock Exchange recorded a decline for the week ending March 22, 2024, as the All-Share Index ASI was down by 0.42% w/w, but still up by 4.67% m/m and 39.95% y/y
The market closed the trading week on a negative note, as the NGX-ASI declined by 0.42% w/w to close at 104,647.37 points, while market capitalization appreciated by ₦0.247 trillion to close at ₦59.169Trillion

Activity level also declined as the volume traded decreased by 2.14% w/w to 1.735 billion units of shares from 1.773 billion. Also, the value of trade down by 7.78% w/w to N48.755 billion N52.867. however, the number of deals was up by 1.17% w/w to 45,237 deals from 44,713 deals.

The financial services being the most active contributed 73.36% of the total volume of trade and 63.74% of the total transaction value. They were closely followed by the conglomerate and consumer goods sectors respectively.
The 3 most traded stocks in volume are United Bank for Africa (UBA), First Bank of Nigeria Holding (FBNH), and Access Holding These 3 most traded contributed 32.56% and 34.85% of the total volume and value of transactions for the week respectively.

Sectorial Index Performance
Performances across the sectors index for the week are shown below;
Banking                                               4.19%
Insurance                                             8.92%
Consumer Goods                                -0.37%
Oil and Gas                                         0.30%
Industrial Goods                                 0.57%
Conglomerates                                    0.43%

Market Breadth

Investor sentiment though strengthened, but not as fantastic as the week before. The market breadth for the week closed positive. The market reported 50 stocks gained which was a 9.09 % decrease w/w while 32 stocks declined in value which was 33.33% poor compared to last week as reported

Notable Gainers for the week
Juli                                                       43.10%
NEM Insurance                                    45.11%
International Energy Insurance            22.95%
Jaiz Bank                                             20.40%
Thomas Wyatt                                     19.78%
International Breweries                       18.22%

Notable Losers
Julius Berger Nigeria                                      17.15%
Daar Communications                                    14.10%
UPDC REIT                                                    12.73%
Deap Capital                                                   12.50%
MTN Nigeria Communications                        12.35%
Royal Exchange                                              10.13%

Stocks to Watch for the Week
Transcorp Power                                 @ N383.00
UBA                                                     @N27.00
Tantalizers                                           @N0.37
Japaul Gold                                         @N2.23
Access Bank                                       @N24
Transcorp                                            @N15.45
Sterling Bank                                       @ N57
Fidelity Bank                                        @10
FCMB                                                   @ N8.50
Please note: The value of shares and investments can go down as well as up, leading to investors not getting back the amount invested. Past performance is not a guide to future performance. Always consult an expert before making an investment decision

Corporate Action
The Initiates Plc                          Dividend: 6kobo
                                                    Qualification Date; 05-07-2024
                                                    Closure Date; 08-07-2024
                                                    Payment Date; 26-07-2024

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