The most successful company during the week of trading that concluded on August 9, 2024, was Oando Plc, which saw its share price settle at N40.60 after posting a 60.47% increase.
This comes as the NGX Banking Index increased by 5.14% over the course of the week, resulting in a N316.4 billion equity gain for banking equities.
The All-Share Index closed at 98,592.12 points this week, up 0.84% from previous week’s closing of 97,745.73, while the NGX gained 0.84% over the week. The NGX has had its finest week in the last three weeks this week.
Over the course of the week, 47,451 deals totaling 2.679 billion shares valued at N49.017 billion were transacted on the market. This is less than the N52.304 billion in shares that were traded in 44,814 trades last week, which totaled 3.393 billion.
The NGX Banking Index according to BrandSpur banking and finance news, had the best return throughout the week, with all other indices recording gains saved from the NGX Main Board and NGX Industrial Goods, which fell by 0.09% and 3.67%, respectively.
Oando’s 60.47% rise was not reflected in the growth of the NGX Oil and Gas Index, which increased by 0.97% over the course of the week.
Best-performing stocks this week:
- Oando Plc, whose share price increased from N25.30 to N40.60, was the best-performing stock this week. The stock has gained 62.40% in August alone, and has gained 287% year to date, ranking it as the second-best gaining stock in the NGX this year.
- Subsequently, RT Briscoe Plc had a 51.19% rise, Japaul Gold & Ventures saw a 35.80% gain, and Academy Press saw a 34.58% gain.
- At 15.95, United Capital closed with a 31.28% gain. United Capital has gained 44.34% after the share price reconstruction brought about by the bonus share issuance that occurred on August 1.
- Skyway Aviation Handling Company gained 26.47%, while Industrial and Medical Gases (IMG) Nigeria Plc gained 30.57%. Veritas Kapital Assurance ended the week at N1.18, having gained 24.21%.
- Veritas Kapital Assurance is currently the third-best performing stock on the NGX for the year, having gained 219% so far. Mecure Industries gained 15.92%, and Nigerian Breweries gained 19.23%.
Top unprofitable: With a 15.68% drop in share price to settle at N2.77, Champions Breweries Plc was the biggest loser on the NGX during. Over the course of the week, BUA Cement saw a 9.99% loss in share price, closing at N128.90, while University Press saw a 9.92% decline, closing at N2.18.
Deap Capital fell by 9.62% to complete the week with a share price of N0.47, while Union Dicon Salt fell by 9.88% to close at N7.30.
AXA Mansard Insurance dropped by 6.85% to settle at N5.03, while Ikeja Hotel Plc lost 7.48%. Thomas Wyatt lost 6.25%, Fidson Healthcare lost 6.78%, and Sunu Assurances Nigeria dropped 6.67%.
Updates on SWOOT and FUGAZ
Zenith Bank gained 7.92% throughout the week, while GTCO Holdings had a 2% increase in share price, going from N45 to N45.90. MTN Nigeria recovered during the course of the week, gaining 5.16%. But BUA Cement suffered a 9.99% loss.
There were no price movements during the week for other stocks valued at over one trillion, including Airtel Africa, BUA Foods, Dangote Cement, Geregu Power, Transcorp Power, Transcorp Hotels, and Seplat Energy.
However, the overall sentiment among tier-1 banks was strong, as seen by UBA’s 14.71% weekly appreciation. FBN Holdings gained 9.76% and Access Holdings gained 5.38% respectively.
