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Market Review for the Week Ended April 19, 2024

The equity market on the floor of the Nigerian Stock Exchange recorded a decline for the week ending April 19, 2024, as the All-Share Index ASI was down by 2.71% w/w, down by 4.80% the month of April 2024 so far, but still up by and 33.12% for the year 2024 so far.
The market closed the trading week on a negative note after 5 days of trading. The NGX-ASI declined by 2.71% w/w to close at 99,539.75 points, while market capitalisation closed at ₦56.296 Trillion.

The activity level for the week was low but better than the previous week,  the volume traded increased by 41.08% w/w to 1.597 billion units of shares from 1.132 billion. Also, the trade value was up by 12.79% w/w to N32.313 billion from N28.650, and the number of deals was down by 104.89% w/w to 44,915 deals from 21,921 deals.

The financial services being the most active contributed 71.48% of the total volume of trade and 69.39% of the total transaction value. They were closely followed by the conglomerate and oil and gas sectors respectively.
The 3 most traded stocks in volumes are Access Bank Holdings, United Bank for Africa (UBA), and Zenith Bank Plc. These 3 most traded contributed 35.69% and 43.57% 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                                               -11.46%
Insurance                                             -2.80%
Consumer Goods                                 -0.96%
Oil and Gas                                          -0.00%
Industrial Goods                                  -2.71%
Conglomerates                                    -8.14%

Market Breadth

Investor sentiment was also weakened for the week. The market breadth for the week closed negative. The market reported 13 stocks gained which was lower than the 19 recorded last week while 62 stocks declined in value which was also lower than the 40 recorded last week

Notable Gainers for the week

Morison Industries                                          45.31%
Guinness Nigeria                                            10.00%
Academy Press                                                9.77%
Prestige Assurance                                          8.93%
Thomas Wyatt                                                  8.63%

Notable Losers
Guaranty Trust Holding Company                               19.08%
Unity Bank                                                                   19.00%
Livestock Feeds                                                          18.99%
Japaul Gold                                                                 18.54%         
Chams Holding Company                                           16.67%

Stocks to Watch for the Week
United Capital                                     @17.80
Fidelity Bank                                       @8.90
Japaul Gold & Ventures                      @1.67
Access Bank                                       @17.00
UBA                                                    @22.70
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
Dangote Cement Plc adjusted to 656.70 Naira for a dividend of 30Naira on April 16, 2024
Transcorp Hotels Plc adjusted to 97.70 Naira for a dividend of 20 Kobo on April 16, 2024
Berger Paints Nigeria Plc adjusted to 15.20 Naira for a dividend of 80Kobo on April 17, 2024
CWG Plc adjusted to 6.29 Naira for a dividend of 16Kobo on April 18, 2024

Corporate Action
Fidelity Bank Plc 
Dividend: N0.60
Qualification Date; 26-04-2024
Closure Date; 29-04-2023
Payment Date; 15-05-2024

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