NGX Closes Week With 46 Gainers, 14 Loser
By Oluyinka Onigbinde
At the conclusion of the last weekday of trading on the Nigerian Stock Exchange (NGX), the market witnessed a total of 519,385,036 shares exchanged in 11,301 deals. This traded volume, corresponding to a market value of NGN 8,850,701,081.65, marked a 3% improvement in volume compared to the previous NGX trading day (Thursday, January 25). However, turnover experienced a 14% decline, and the number of deals saw an 8% reduction.
The current market capitalization of the Nigerian Stock Exchange stands at an NGN 56 trillion,
In the Friday session, 124 NGX listed equities actively participated, resulting in 46 gainers and 14 losers. Japaul Gold and Ventures emerged as the top gainer with a significant 10% share price appreciation, closing at NGN 3.08 per share. Following closely were PZ Cussons Nigeria (+9.92%), Royal Exchange (+9.86%), and Honeywell Flour Mill (+9.84%), contributing to the positive momentum in the market.
Conversely, on the losing side, The Initiates recorded the highest end-of-day price depreciation of 6.88%, settling at NGN 2.30 per share. Other decliners included Jaiz Bank (-6.39%), Tantalizers (-6%), and Daar Communications (-4.26%).
Japaul Gold and Ventures, with an impressive trading volume of 59.2 million shares, led the charts, followed by United Bank for Africa (48.7 million), Universal Insurance Company (39.9 million), and Guaranty Trust Holding (24.7 million). These figures indicate a vibrant and active trading day, with investors engaging in diverse equities across sectors.
Highlights:
- Gainers vs. Losers: The market favoured bullish sentiment, with 46 stocks closing in the green and only 14 in the red.
- Top Gainers: Japaul Gold and Ventures led the pack with a 10% surge, followed by PZ Cussons Nigeria (+9.92%), Royal Exchange (+9.86%), and Honeywell Flour Mill (+9.84%).
- Top Losers: The Initiates suffered the most significant loss, dipping 6.88%, followed by Jaiz Bank (-6.39%), Tantalizers (-6%), and Daar Communications (-4.26%).
- Market Volume: Japaul Gold and Ventures also dominated trading volume, recording 59.2 million shares traded, followed by United Bank for Africa (48.7 million), Universal Insurance Company (39.9 million), and Guaranty Trust Holding Company (24.7 million).
- Turnover and Deals: While the market saw an increase in volume compared to the previous day, turnover and deals declined by 14% and 8%, respectively.
- Market Capitalization: The NGX ended the week with a market capitalization of NGN 56 trillion.
Insights and Analysis:
The increase in volume and number of gainers suggests some positive sentiment returning to the market. However, the decline in turnover and deals could be a sign of cautious trading by investors. The performance of Japaul Gold and Ventures can be attributed to positive news about their gold mining operations. The losses for The Initiates, Jaiz Bank, and Tantalizers might be driven by profit-taking by investors.
Overall, the mixed performance of the NGX indicates continued uncertainty in the market. Investors are likely to remain cautious in the coming week, watching for further economic indicators and company-specific news before making major investment decisions.
