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WEEKLY MARKET PERFORMANCE REPORT FOR THE WEEK ENDED APRIL 12TH, 2024

15
Apr

Market Review for the Week Ended April 12, 2024

The equity market on the floor of the Nigerian Stock Exchange recorded a decline for the week ending April 12, 2024, as the All-Share Index ASI was down by 1.09% w/w, down by 2.15% the month of April 2024 so far, but still up by and 36.83% for the year 2024 so far.
The market closed the trading week on a negative note after trading for just 2 days because of the Eid al-Fitr Holidays. The NGX-ASI declined by 1.09% w/w to close at 102,314.56 points, while market capitalisation close at ₦59.121Trillion.

The activity level for the week was low as a result of the holiday the volume traded decreased by 69.24% w/w to 1.132 billion units of shares from 3.680 billion. Also, the value of trade was up by 50.51% w/w to N28.650 billion from N57.892, and the number of deals was down by 46.17% w/w to 21,921 deals from 40,72 deals.

The financial services being the most active contributed 75.94% of the total volume of trade and 71.99% of the total transaction value. They were closely followed by the conglomerate and consumer goods sectors respectively.
The 3 most traded stocks in volumes are United Bank for Africa (UBA), Zenith Bank, and Abbey Mortgage Bank Plc. These 3 most traded contributed 39.49% and 37.50% 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                                               -7.22%
Insurance                                             -2.45%
Consumer Goods                                -1.33%
Oil and Gas                                         -0.28%
Industrial Goods                                 -0.50%
Conglomerates                                    -5.48%

Market Breadth

The market breadth for the week closed negative. The market reported 19 stocks gained which was lower than the 31 recorded last week while 40 stocks declined in value which was also lower than the 42 recorded last week

Notable Gainers for the week

Morison Industries                                          20.75%
Oando                                                             10.57%
Transcorp                                                        10.33%
Deap Capital                                                   9.68%

Notable Losers
Access Holding                                                  14.60%
United Capital                                                    13.92%
Guaranty Trust Holding Company                     13.75%
Flour Mills Nigeria                                              13.55%                       
Sunu Assurances Nigeria                                   13.24%

Stocks to Watch for the Week
Dangote Refinery                                @53.10
NASCON                                           @52.55
UBA                                                   @26.30
Tantalizers                                           @N0.35
Japaul Gold                                         @N2.05
Access Bank                                       @19.30
Zenith Bank                                        @40.00          
Transcorp                                            @14.95
NAHCO                                             @33.25                                              
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

Price Adjustment
United Capital Plc adjusted to 20.80 Naira for a dividend of 1.80 Naira on April 10, 2024
Access HoldingsPlc adjusted to 20.70 Naira for a dividend of 1.80 Naira on April 11, 2024
Multiverse Mining and Exploration Plc adjusted to 15.30 Naira for a dividend of 5Kobo on April 12, 2024

Corporate Action
Guaranty Trust Holding Company (GTCO)        
Dividend: N2.70
Qualification Date; 26-04-2024
Closure Date; 29-04-2023
Payment Date; 09-05-2024

Zenith Bank Plc                                           
Dividend: N3.50
Qualification Date: 25-04-2024
Closure Date: 26-04-2024
Payment Date: 08-05-2024

United Bank for Africa Plc
Dividend: N2.30
Qualification Date: 24-04-2024
Closure Date: 25-04-2024
Payment Date: Not Available

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