Financial Energy Review
Oando Plc was the highlight of the trading week ending August 9, 2024, as the stock posted a 60.47% gain to close with a share price of N40.60.
This is as banking stocks recorded a N316 .4 billion equity gain, with the NGX Banking Index rising by 5.14% during the week.
During the week, the NGX rose by 0.84%, with the All-Share Index closing at 98,592.12 points from last week’s 97,745.73. This week marks the best performing week of the NGX in three weeks.
Throughout the week, the market saw a total turnover of 2.679 billion shares valued at N49.017 billion across 47,451 deals. This represents a decrease from the previous week’s turnover of 3.393 billion shares worth N52.304 billion, traded in 44,814 deals.
Except for the NGX Main Board and NGX Industrial Goods, which declined by 0.09% and 3.67% respectively, all other indexes recorded gains during the week, with the NGX Banking Index delivering the highest return.
The NGX Oil and Gas Index appreciated by 0.97% during the week, as Oando’s 60.47% gain wasn’t reflected in the index’s growth.
Oando Plc was the best performing stock during the week, as its shar price moved from N25.30 to N40.60. In August alone, the stock has appreciated by 62.40%, while year to date, the stock has appreciated by 287%, making it the second-best gaining stock in the NGX this year.
It was followed by RT Briscoe Plc which gained 51.19%, then Japaul Gold & Ventures which gained 35.80%, as well as Academy Press which gained 34.58%.
United Capital gained 31.28% to close at 15.95. Since the share price reconstruction due to the bonus share issuance which took place on August 1, United Capital has gained 44.34%.
Industrial and Medical Gases (IMG) Nigeria Plc gained 30.57%, while Skyway Aviation Handling Company gained 26.47%. Veritas Kapital Assurance gained 24.21% to close the week at N1.18.
Veritas Kapital Assurance has achieved a year-to-date gain of 219%, making it the third best performing stock on the NGX this year. Nigerian Breweries gained 19.23%, and Mecure Industries gained 15.92%.
Top losers: Champions Breweries Plc was the top loser in the NGX during, as its share price declined by 15.68% to close at N2.77. BUA Cement declined by 9.99% during the week as it dipped to a share price of N128.90, while University Press declined by 9.92% to close with a share price of N2.18.
Union Dicon Salt declined by 9.88% to close with a share price of N7.30, while Deap Capital dipped by 9.62% to close the week with a share price of N0.47.
Ikeja Hotel Plc lost 7.48% and AXA Mansard Insurance dipped by 6.85% to close at N5.03. Fidson Healthcare posted a 6.78% loss, Sunu Assurances Nigeria lost 6.67%, and Thomas Wyatt lost 6.25%.
During the week, GTCO Holdings gained 2% as its share price moved from N45 to N45.90, while Zenith Bank gained 7.92%. MTN Nigeria made a resurgence during the week as it gained 5.16%. However, BUA Cement lost 9.99%.
Other stocks worth over one trillion, Airtel Africa, BUA Foods, Dangote Cement, Geregu Power, Transcorp Power, Transcorp Hotels, and Seplat Energy recorded no price changes during the week.
For tier-1 banks, there was overall bullish sentiment as UBA appreciated by 14.71% during the week. Access Holdings gained 5.38% and FBN Holdings gained 9.76% also.
