ACCORDING to trading statistics from the Nigerian Exchange (NGX), the return on the Nigerian stock market decreased to 21.3 percent on Friday before the release of the second quarter’s fiscal year 2022 profits.
While the local stock exchange’s data reveals that the stocks market ended June on a downbeat tone. The benchmark index dropped from 51,817.59 points to 51,817.5% month over month.
According to the Nigerian Exchange’s monthly report, June’s gross trading volume and value were 5.8 billion units and 77.9 billion Naira, respectively. While the overall value of trades on the equity market rose from N205.88 billion to N607.45 billion, a 195.05 percent rise.
“In the new week, we expect to see the expectations of second quarter (Q2) numbers act as a catalyst to trigger more bullish sentiments”, Cowry Asset said in a market note.
The local stock exchange gained ground on Friday, helping it to finish the first trading day of July on a high note. The All-Share-Index closed at 51,817.59 basis points on Friday, but market indicators tacked on 2 basis points to put it at 51,829.67 basis points.
The market capitalization increased somewhat on Friday, closing at 27.94 trillion, up 6.56 billion. Although the market was moving in a positive direction, the total volume and value decreased by 43.06 percent and 55.93 percent, respectively.
A market report from Atlass Portfolios brokerage said that 3,718 transactions totaling around 127.03 million units worth $1.71 billion were made.
With 18.53% of the total amount of trades, GTCO became the most actively traded stock in terms of volume.
UBA (17.53 percent), STERLNBANK (5.85 percent), OANDO (5.79 percent), and FBNH (4.71 percent) came in fast succession to round out the top five on the volume table. According to market data, GTCO accounted for 28.14% of the total value of trades on the exchange, making it the most actively traded stock in value terms.
The company with the largest price increase, 9.78%, was CUTIX. PZ (6.25%), CUSTODIAN (4.29%), UNILEVER (3.38%), WEMABANK (2.19%), ACCESSCORP (1.62%), ZENITHBANK (0.69%), UCAP (0.39%), WAPCO (0.38%), SEPLAT (0.04%), and ten (10) other companies were closely trailing the company’s shares.
In contrast, the stockbrokers at Atlass Portfolios said that sixteen (16) other stocks also declined, with COURTVILLE experiencing the largest price decline (7.84%), closing at $0.47. OANDO fell by 3.17 percent, NGXGROUP lost 3.26 percent, and NAHCO’s share price fell by 5.88 percent.
The share prices of UBA, GTCO, and DANGSUGAR all decreased by 0.67 percent, 1.84 percent, and 0.24 percent, respectively, but the market breadth closed positively with 19 gainers and 16 losers.
NGX Insurance (3.59%), NGX Oil/Gas (0.15%), and NGX Banking (1.06%) indexes, respectively. The NGX Industrial Index and Consumer Goods Index, on the other hand, saw weekly declines of 0.13 percent and 0.40 percent, respectively.
