The domestic equities market ended the week in the negative, down 667 basis points (bps) or 6.7% so far this week (WTD). Three indexes finished in the red and two closed in the green WTD, signaling a more gloomy outlook for the sectors we monitor.
The Insurance index, which decreased by 370bps and closed the week with value traded at 4.4mn and volume traded totaling to 6.6mn units, is shown to have the worst WTD performance for indices that fall under our scope.
The Oil and Gas index, which fell by 150 basis points, closed with volume and value exchanged of 702,745 units and $11.7 million, respectively, and the Consumer Goods index, which fell by 90 basis points with volume and value traded of 3.3 million units and $79.9 million, respectively.
The Industrial Goods and Banking indexes, on the other hand, had gains of 320 bps and 120 bps, respectively. At the end of the trading week, both indices’ volume traded ended at 1.6 million units and 65.0 million units, respectively, while their value traded concluded at 50.0 million and 1.7 billion.
Additionally, the local stock exchange concluded at 44,396.73 points as opposed to 44,332.21 points at the beginning. The Month-to-Date (MTD) showed a negative result after falling by 944 basis points (9.4%). But the market’s Year-to-Date (YTD) return increased by 3.9% or 393bps.
Close of the week, Friday – 21st of October, 2022
The NGX-ASI finished at 44,396.73 points on Friday, increasing the Nigerian equities market by 15 basis points. As a result, the market’s Year-To-Date (YTD) return increased to 3.9% from 3.7% on the previous trading day.
The gains in the Consumer Goods and Industrial indexes of 80 basis points and 20 basis points, respectively, were mostly attributable to investor interest in BUACEMENT (+1.6%) and DANGSUGAR (+2.5%). However, due to investor selloffs in NEM (-10.0%) and UNITYBNK (-2.1%), the Insurance and Banking indexes fell by 350 bps and 40 bps, respectively.
ACADEMY (+9.8%), STERLNBANK (+3.9%), and CHAMS (+3.8%) were the top gainers in Friday’s trading session, while NEM (-10.0%), ROYALEX (-9.8%), and MORISON (-9.6%) lead the top losers.
The overall volume traded and total value transacted for Friday’s trading operations decreased by 20.2% and 41.1%, respectively, to 95.0mn units and 1.9bn. AIRTELAFRI, ZENITHBANK, and GTCO topped the value chart with 978.8 million, 215.4 million, and 152.6 million respectively, while FIDELITYBK, ZENITHBANK, and GTCO lead the volume chart with 26.5 million units, 10.7 million units, and 8.2 million units, respectively.
Revenue for the firm increased by 145.0%, completing the fiscal year 2022 at N4.1 billion (up from N1.7 billion the year before), according to reports. Revenue fell by 31.2% from the N2.4 billion recorded in 2020 to N1.7 billion in 2021.
Earnings per share during the reviewed period (2022) rose to N0.29 from a deficit of N0.34 for the whole 2021 fiscal year. Academy Press has a P.E ratio of 4.41x and an earnings yield of 22.67% with a share price of N1.27.
The opening and closing prices for the following industries that fall under our purview: Banking index (379.10open – 377.79close), Insurance index (169.08open – 163.20close), Consumer Goods index (571.15open – 572.02close), Oil and Gas index (485.21open – 485.21close), and Industrial Goods index (1,867.88open – 1,882.17close).
Consumer Goods and Industrial Goods are two more indices that fall under our scope, and their percentage changes are as follows: (-0.1%, 0.0%; -1.1%, 1.4%; -0.03%, 0.9%; 0.2%, 0.1%; 0.2%, 0.8%). The accompanying paper has information on the other indices.
On daily currency update, I&E and the parallel market’s prices closed at ₦441.13/US$1.00 and ₦750/US$1.00 respectively. The current P2P Forex market price is ₦754.48/US$1.00. Nigeria’s external reserves closed at US$37.72bn.
