• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, August 29, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Mixed Performance On Equities Expected This Week

The performance of the Nigerian stock market is expected to be mixed this week, OLUSHOLA BELLO writes.

by Olushola Bello
3 years ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

Capital market analysts have predicted a mixed performance for equities this week, as the market enters June, the last month of 2022 first half.

Advertisement

They noted that market players will continue to digest the macro-economic data, among other developments to support an uptrend in the new month amid the rebound in oil prices sentiments in the coming week.

Meanwhile, with the Monetary Policy Committee (MPC) decision to increase the Monetary Policy Rate (MPR) to 13.0 per cent at its recently concluded meeting, the first rate hike since July 2016, analysts believe this was triggered by a knee-jerk reaction from investors, given that rising fixed income (FI) yields typically make equities less attractive.

According to them, 2022 being a pre-election year further suggests that investors would minimise exposure to risk assets. Nonetheless, we do not envisage a prolonged bearish run in the market, given the strong corporate earnings delivered by companies in the Q1, 2022 earnings season. As such, we think a short-term market correction will present opportunities for investors to make re-entry into stocks with sound fundamentals and attractive dividend yields.

Analysts Optimism

RELATED

Parallex Bank To Provide Limitless Banking Experience

Bank Unveils N4bn Financial Support For Lagos LGAs, LCDAs

15 hours ago
FCT Town Planners Reaffirm Commitment To Abuja Master Plan Restoration

Ministry Launches Portal For Tracking Real Estate Fraudsters

16 hours ago
ADVERTISEMENT

In the new week, analysts at Cowry Assets Management Limited expect to see a mixed reaction to the daily change of the local bourse, saying, “this we believe will be as a result of no upcoming company’s financial release for the new week.

“However, investors are advised to trade on companies’ stocks with good fundamentals and positive outlook so as to avoid falling into the bear trap.”

Cordros Capital Limited said: “With the recent decision of the MPC to hike the MPR by 150bps, we expect negative sentiments to dominate market performance in the short term. Nonetheless, we think a short-term market correction will present opportunities for investors to make re-entry in stocks with sound fundamentals and attractive dividend yields. Overall, we advise investors to take positions in only fundamentally justified stocks as the fragility of the macroeconomic environment remains a significant headwind for corporate earnings.”

ADVERTISEMENT

Afrinvest Limited pointed out that,  “this week, we anticipate mild gains in the market supported by bargain hunting.

Last Week’s Trading Activities

The local bourse closed in the green territory last week despite profit-taking activities in heavyweights in the telecommunications and consumer goods sectors.

The All-Share Index advanced by 2.09 per cent week-on-week (W-o-W) to close at 54,085.30 points. Similarly, market capitalisation gained N596 billion W-o-W to close at N29.158 trillion.

Notably, the positive performance this week was buoyed by foreign investors’ renewed interest in Airtel Africa which proved sufficient in offsetting losses in Guinness Nigeria, Nigerian Breweries and MTN Nigeria Communications (MTNN).

Performance across sectors was broadly negative. The NGX Insurance index, NGX Oil and Gas index, NGX Consumer Goods index, NGX Banking index, and NGX Industrial index decreased by 6.27 per cent, 0.86 per cent, 3.94 per cent, 0.76 per cent, and 0.67 per cent respectively to close at 180.28 points, 551.49 points, 664.23 points, 427.47 points, and 2,278.71 points respectively.

The market breadth for the week was negative as 23 equities appreciated in price, 54 equities depreciated in price, while 79 equities remained unchanged. Industrial & Medical Gases Nigeria led the gainers table by 20.88 per cent to close at N11.00, per share. MRS Oil Nigeria followed with a gain of 20.59 per cent to close at N16.40, while Airtel Africa went up by 20.20 per cent to close to N1,767.00, per share.

On the other side, UAC of Nigeria (UACN) led the decliners table by 27.08 per cent to close at N10.50, per share. Global Spectrum Energy Services followed with a loss of 18.77 per cent to close at N2.77, while Royal Exchange declined by 14.04 per cent to close at 98 kobo, per share.

Overall, a total turnover of 1.840 billion shares worth N27.286 billion in 27,273 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 3.021 billion shares valued at N31.784 billion that exchanged hands previous week in 29,153 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.286 billion shares valued at N10.745 billion traded in 12,379 deals; contributing 69.90 per cent and 39.37 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 251.105 million shares worth 1.659 billion in 1,371 deals, while the Consumer Goods Industry traded a turnover of 105.601 million shares worth N2.522 billion in 4,263 deals.

Trading in the top three equities; Ecobank Transnational Incorporation (ETI), Jaiz Bank and Access Holdings (measured by volume) accounted for 640.650 million shares worth N4.825 billion in 2,098 deals, contributing 34.81 per cent and 17.68 per cent to the total equity turnover volume and value respectively.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: stock market
SendShare10172Tweet6358Share
ADVERTISEMENT
Previous Post

Banks’ Senior Staff Lament Redundancy

Next Post

MONEY MARKET: Assessing MPC’s Interest Rate Hike To Address Inflation

Olushola Bello

Olushola Bello

You May Like

Parallex Bank To Provide Limitless Banking Experience
Business

Bank Unveils N4bn Financial Support For Lagos LGAs, LCDAs

2025/08/28
FCT Town Planners Reaffirm Commitment To Abuja Master Plan Restoration
Business

Ministry Launches Portal For Tracking Real Estate Fraudsters

2025/08/28
Renewed Confidence In Aviation Sector Raises Local Airlines Participation – NCAA
Business

Lagos, FCT, Rivers Generate 70% Of Aviation’s N215.6bn GDP Contribution

2025/08/28
Air Peace Lauds Minister Over Installation Of Airfield Lighting On Lagos Airport
Business

Tinubu’s Brazil Visit Yielded Air Peace, Embraer MRO Agreement – Onyema

2025/08/28
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Bulls Lose Steam As Equities Market Dips By N325bn Amid Profit Booking

2025/08/28
Kogi Stakeholders Task Federal Gov’t On Ending Benue Killings
Business

Tinubu Promises Continued Support For Capital Market Reforms, Expansion

2025/08/28
Leadership Conference advertisement

LATEST

Tubotamuno Launches ‘The Elite Wanderer’ To Turn Wealth Into Power, Legacy

2027: Why PDP Must Present Southern Christian Candidate — Bauchi Gov

Akure Monarch Shuts Markets, Shops For Amole Festival

Federal Gov’t To End Police Escort Misuse By VIPs, Says Hadiza Bala-Usman

INEC Allays ADC’s Fears Over Voter Registration Figures

JUST-IN: Besiktas Sack Ole Gunnar Solskjær As Head Coach

Benue, Plateau Killings: DSS Files Criminal Charge Against 9 Suspects

Federal Gov’t Hails Ex-Perm Secs’ Council For Bolstering Governance

Niger Delta Coalition Backs NNPCL Boss, Passes Confidence Vote On Tinubu

Gombe Gov Meets VON DG, Pledges Continued Support, Robust Partnership

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.