Trading on the Nigerian Exchange (NGX) ended on a positive note on Friday, November 15, 2024, as the All-Share Index (ASI) recorded a 0.51% gain, closing at 97,725.64 points. This represents a 1-week gain of 0.5%, despite a 4-week loss of 0.35%, and consolidates a robust year-to-date growth of 30.7%.
The session saw the exchange of 295.19 million shares in 8,433 deals, valued at NGN 6.77 billion. This reflects a slight 1% increase in trading volume compared to the previous day (Thursday, November 14). However, turnover dipped by 13%, while the number of deals rose by 6%. The market capitalization remained strong at NGN 59.2 trillion.
Equities Performance
Out of the 124 equities that traded, 31 advanced while 21 declined, leaving the market breadth positive. Flour Mills Nigeria led the gainers, appreciating by 10% to close at NGN 78.65 per share. It was followed by Eunisell Interlinked (+10%), John Holt (+9.97%), and Consolidated Hallmark Holdings (+9.94%).
On the flip side, Deap Capital Management & Trust recorded the highest price decline, dropping by 9.17% to close at NGN 1.09 per share. Ikeja Hotel (-8.54%), Daar Communications (-6.45%), and Universal Insurance Company (-5.88%) also featured among the top losers.
In terms of activity, Access Holdings emerged as the most traded stock, with a volume of 33.3 million shares, followed by Zenith Bank (30.3 million shares), Consolidated Hallmark Holdings (20.1 million shares), and United Capital (19.1 million shares).
Sectoral Indices
The NGX market indices showed mixed performances, with some sectors outpacing the benchmark:
- NGX Insurance Index: +2.16% daily; +2.84% 1-week; +43.34% year-to-date.
- NGX Industrial Index: +1.7% daily; -0.2% 1-week; +26.99% year-to-date.
- NGX Oil & Gas Index: +1.32% daily; -0.29% 1-week; +132.38% year-to-date.
- NGX Banking Index: +0.72% daily; +2.32% 1-week; +17.38% year-to-date.
- NGX Consumer Goods Index: +0.63% daily; +0.6% 1-week; +39.62% year-to-date.
- NGX Top 30 Index: +0.47% daily; +0.31% 1-week; +31.88% year-to-date.
Market Outlook
The positive close of the NGX All-Share Index on Friday signals investor optimism, underpinned by gains in key sectors such as insurance, industrials, and oil & gas. Analysts believe that the strong year-to-date performance across sectors reflects resilience in the equities market despite broader economic uncertainties.
Investors are advised to keep a close watch on developments in macroeconomic policies, corporate earnings reports, and global market trends, which are expected to drive market activities in the coming weeks.
