The All-Part Index (ASI) closed the predominant week of September 2024 with a 0.15% decline, falling from 96,580 sides to 96,433 sides.
The index dropped by 0.15%, falling from its opening price of 96,580 sides to shut at 96,433 sides, marking the starting of September on a bearish existing.
Not like the outdated week, the place 56 equities recorded designate increases, handiest 36 equities skilled gains this week.
Market Efficiency:
Market volume also witnessed a serious fall, reducing by 80% to 2.1 billion shares traded, in comparison with 10.62 billion shares exchanged the outdated week.
Out of the 5 trading days, handiest Monday and Friday recorded bullish exercise. The index saw downward rigidity on Wednesday and Thursday, which dragged it decrease.
First and predominant, the ASI shed 0.4% at some level of the week, however a leisurely rally in shares take care of Oando, Berger Paints, and others on Friday helped offset the loss, cutting again the weekly decline to 0.15%.
Various Highlights:
The NGX Top price Index fell by 0.37% in the predominant week of September, driven by some SWOOTs take care of Zenith Bank which resulted in the crimson, and Oando that shed some gains from Monday and Tuesday.
NGX 30 and NGX Main Board Index fell by 0.28% and zero.04%, respectively, mirroring the final market pattern.
NGX Oil and Gas Index outperformed, closing in the golf green with a 1.52% receive from the outdated week.
While the NGX Insurance protection index (-4.45%), NGX Shopper Items Index (-1.17), NGX Industrial Items (-0.17), and NGX Banking Index (-0.12) all ended the week negatively.
A total of 46 equities depreciated in designate, while 69 remained unchanged.
High Gainers:
INDUSTRIAL AND MEDICAL BASES NIGERIA PLC led the gainer, climbing by 32.58% to abolish the #1 enlighten on the table. BERGER PAINTS developed by 31.12% while E-TRANSACT INTERNATIONAL PLC closed by 20.59%.
Various considerable gainers consist of:
- UACN: +19.77%, closing at N20.90.
- C & I LEASING PLC: +18.75%, closing at N4.15.
- UNIVERSITY PRESS: +16.09%, closing at N2.67.
- CAVERTON OFFSHORE SUPPORT GROUP PLC: +13.75%, closing at N1.59.
- GUINEA INSURANCE PLC: +13.04%, closing at N0.52.
- MEYER PLC: +10.00%, closing at N5.83.
- SFS REAL ESTATE INVESTMENT TRUST: +9.97%, closing at N148.35.
High Losers:
RT BRISCOE led the losers table, falling by 27.61% to shut in the crimson. FTN COCOA PROCESSORS PLC and OMATEK VENTURES PLC also witnessed a decline, shedding 18.8% in allotment designate, respectively.
Various considerable losers consist of:
- THE INITIATES PLC: -13.8%, closing at N1.91.
- CORNERSTONE INSURANCE PLC: -12.59%, closing at N2.36.
- SECURE ELECTRONIC TECHNOLOGY PLC: -10.61%, closing at N0.59.
- ABBEY MORTGAGE BANK PLC: -9.96%, closing at N2.53.
- LIVESTOCK FEEDS PLC: -9.60%, closing at N2.26.
- PZ CUSSONS NIGERIA PLC: -9.53%, closing at N19.00.
- CHAMPION BREWERIES PLC: -9.20%, closing at N2.96.
Company Bulletins:
The week featured quite a lot of considerable corporate bulletins:
- INTERNATIONAL BREWERIES PLC released its 2024 AGM resolutions.
- OANDO PLC known as for the instantaneous finish of libelous issue material in the media.
- STANBIC IBTC HOLDINGS PLC released its Q2 2024 monetary statements.
- NOTORE CHEMICAL INDUSTRIES PLC announced the resignation and appointment of a fresh firm secretary.
Outlook:
The All-Part Index, which has fallen by 7.8% from its March 2024 high, is anticipated to strive a correction. Aquire rigidity in the oil and gasoline sector, alongside with some banking shares, might well perchance furthermore push the index abet into bullish territory in the arrival weeks.
