CWG leads NGX-ASI to its first gain this week
In today’s trading session, the local bourse printed green for the first time this week as the NGX benchmark index gained 3bps to close at 44,332.21 points. Consequently, the Year-to-date (YTD) return of the market slightly weakened to 3.7% from 3.8% the previous trading day.
Top gainers in the market were led by CWG (+9.6%), JAPAULGOLD (+7.7%) and WAPIC (+5.9%), while BETAGLAS (-10.0%), ALEX (-9.7%) and RTBRISCOE (-9.7%) posted as today’s top losers.
For today’s trading activities, the total volume traded and value traded declined by 27.9% and 12.9% respectively to 119.2mn units and ₦3.2bn. FIDELITYBK, GTCO and JAPAULGOLD led the volume chart with 39.3mn units, 8.3mn units and 6.7mn units respectively. However, AIRTELAFRI, MTNN and GTCO led the value chart with ₦1.8bn, ₦687.0mn and ₦153.9mn respectively.
For indices under our purview, performance was more bullish as three indices posted green and two indices posted red.
Performance indicates that the Insurance index led the top gainers with 22bps, followed by the Consumer Goods and Industrial Goods indices which gained 20bps and 9bps respectively. The gains were accredited to WAPIC (+5.9%), DANGSUGAR (+3.9%) and WAPCO (+2.1%) accordingly.
Meanwhile, the Banking and Oil and Gas indices declined by 80bps and 40bps, as a result of losses in STERLNBANK (-2.6%) and OANDO (-2.4%).
Quick Insight (Today’s top gainer)
Source: BRIU
Computer Warehouse Group Plc (CWG) emerged as the top gainer in today’s trading session. The company disclosed in its audited June 2022 financial report that the value of its total assets for the second quarter was ₦13.8 billion. For the same period, the company’s total liabilities were valued at ₦12.4 billion.
CWG’s total assets in 2021 were ₦8.4 billion, according to results from the financial report posted on the NGX, which was an increase of 4.5% from the ₦8.1 billion recorded for the year ended 2020. The company’s total liabilities were ₦7.4 billion, down 1.8% from the ₦7.5 billion recorded for 2020.
For the period that BRIU analysed (2017-2021), the average value of assets was ₦9.5 billion. Total liabilities had an average value of ₦8.8 billion. The company now has a high debt ratio of 0.9.
Daily Currency Update
On daily currency updates, I&E and the parallel market’s prices closed at ₦441.50/US$1.00 and ₦747/US$1.00 respectively. The current P2P Forex market price is ₦750.90/US$1.00. Nigeria’s external reserves is currently US$37.76bn.
