Tag: Equity Market

The Nigerian Exchange Ltd. (NGX) All-Share Index and Market Capitalisation depreciated by 0.77 per cent each, closing the week at 144,628.20 points and ₦91.502 trillion.

These figures compared with 145,754.91 points and ₦92.214 trillion recorded in the previous week. Consequently, equity investors lost ₦712 billion during the week under review. The week recorded three sessions of negative downturn and two positive sessions.

Similarly, all other indices closed lower, except NGX Insurance, NGX AFR Div. Yield, and NGX Growth, which gained 8.21, 1.57, and 9.50 per cent, respectively.

A turnover of 8.564 billion shares worth ₦99.936 billion in 177,870 transactions was recorded this week on the Exchange.

This contrasted with 8.736 billion shares valued at ₦134.577 billion exchanged in 180,290 deals last week.

The Financial Services Industry led the activity chart with 6.916 billion shares worth ₦56.716 billion traded in 84,589 transactions.

It contributed 80.75 per cent and 56.75 per cent to the total equity turnover volume and value, respectively.

The Oil and Gas industry followed with 387.647 million shares valued at ₦8.502 billion in 11,249 deals.

Third place went to the Agriculture Industry with 315.540 million shares worth ₦6.019 billion traded in 11,747 transactions.

Trading in Universal Insurance, Linkage Assurance and AIICO Insurance accounted for 2.787 billion shares worth ₦6.622 billion in 11,067 deals.

This represented 32.54 per cent and 6.63 per cent of the total equity turnover volume and value, respectively.

Fifty equities appreciated in price during the week, lower than 66 recorded in the previous week.

Forty-nine equities depreciated, compared with 41 in the previous week, while 47 remained unchanged, higher than 39 previously recorded.

UPDC Plc, Livingtrust Mortgage Bank, Berger Paints, VFD Group and Unilever Nigeria Plc led the losers’ table, shedding ₦1.40, 80k, ₦5.50, ₦1.50 and ₦8.20, respectively.

The week’s top gainers were Mutual Benefits, Tripple Gee, Sunu Assurances, Mecure Industries and Deap Capital, gaining 31.85, 30.23, 23.80, 20.50 and 19.26 per cent, respectively.

They appreciated by 93k, ₦1.30, ₦1.19, ₦3.25 and 26k, respectively.

The Nigerian stock market closed the week bearish on Friday, as performance indices fell by 0.46 per cent. This marked the third consecutive negative session of the week.

The downturn was driven by sustained profit-taking in stocks including International Energy Insurance, Lasaco Assurance, Linkage Assurance, Nem Insurance, Meyer and 34 other companies.

Market capitalisation fell by N425 billion or 0.46 per cent, closing at N91.501 trillion from N91.926 trillion recorded on Thursday.

Similarly, the All-Share Index dropped by 0.46 per cent or 671.81 points, closing at 144,628.20 from 145,300.01 in the previous session.

The market breadth also closed negative with 39 losers compared to 30 gainers.

Lasaco Assurance led the losers’ chart, dropping 10 per cent to N4.05, while International Energy Insurance also fell 10 per cent to N3.33 per share.

Linkage Assurance declined by 10 per cent to N2.43, while Nem Insurance dipped by 9.97 per cent to N32.50 per share.

Meyer fell by 9.95 per cent, closing at N16.75 per share.

On the gainers’ chart, Mutual Benefits rose 10 per cent to N3.85, while Ikeja Hotel gained 9.95 per cent, closing at N22.65 per share.

Wema Bank appreciated by 9.90 per cent to N22.75, while Deap Capital Management advanced by 9.52 per cent to N1.61 per share.

Tripple Gee rose by 8.32 per cent, closing at N5.60 per share.

A total of 1.37 billion shares worth N13.9 billion were traded across 32,065 deals.

This compared with 2.46 billion shares valued at N22.22 billion exchanged in 43,515 deals on Thursday.

Universal Insurance recorded the highest volume, trading 308.8 million shares worth N371.1 million.

AIICO Insurance followed with 117.99 million shares valued at N470.66 million, while Mutual Benefits sold 102.42 million shares worth N390.9 million.

Veritas Kapital Assurance traded 70.42 million shares worth N160.03 million, while Sovereign Trust Insurance sold 62.15 million shares valued at N182.3 million.

The equity market witnessed a downturn on Wednesday as performance indices declined by 0.13 per cent. This followed two consecutive days of bullish trading earlier in the week.

The negative trend was driven by selloffs in Thomas Wyatt Nigeria, UPDC Real Estate Investment Trust, Legend Internet Plc, Berger Paints, and 15 other stocks.

The market capitalisation shed N121 billion or 0.13 per cent to close at N92.284 trillion, compared with N92.405 trillion at the previous session’s opening.

The All-Share Index also fell by 0.13 per cent or 191.09 points, closing at 145,864.80 against 146,055.89 recorded on Tuesday.

However, the market breadth remained positive with 53 gainers and 19 losers.

On the gainers’ table, Learn Africa rose by 10 per cent to close at N7.70, while FTN Cocoa Processors gained 10 per cent, ending at N6.93 per share.

Tripple Gee climbed by 10 per cent to N5.17, while RT Briscoe advanced 10 per cent to close at N3.74 per share.

Prestige Assurance also increased by 10 per cent, closing the day at N2.42 per share.

Conversely, Thomas Wyatt Nigeria fell by 10 per cent to N3.42, while UPDC Real Estate Investment Trust dropped 7.94 per cent to close at N8 per share.

Legend Internet Plc declined by 6.35 per cent to N5.60, while Berger Paints lost 6.16 per cent, ending at N32 per share.

Similarly, Champion Breweries shed 5.75 per cent to close at N16.38 per share.

A total of 1.34 billion shares worth N20.21 billion were traded in 30,749 transactions.

This contrasted with 1.28 billion shares worth N24.25 billion exchanged in 31,155 transactions during the previous session.

Universal Insurance led the activity chart with 193.43 million shares valued at N282.42 million.

Ja Paul Gold followed with 123.2 million shares worth N389.98 million, while Veritas Kapital Assurance traded 93.21 million shares valued at N260 million.

Access Corporation exchanged 84.98 million shares worth N2.35 billion, while Sterling Nigeria transacted 68.20 million shares valued at N552.62 million.

The Nigerian stock market opened bullish on Monday, leading to N279 billion gains for investors and sustaining the previous week’s gain.

The positive performance was driven by increased investors interest in large capitalised stocks like Beta Glass, Champion Breweries, FTN Cocoa Processors and 43 other stocks.

Specifically, the market capitalisation, which opened at N74.533 trillion, added 279 billion or 0.37 per cent to close at N74.812 trillion.

The All-Share Index also gained 0.37 per cent or 441.43 points, to settle at 118,579.65 against 118,138.22  recorded on Friday.

Meanwhile, the market breadth also closed positive with 46 gainers and 22 losers.

Beta Glass led the gainers’ chart, increasing by 10 per cent, setting at N303.60 while Champion Breweries also rose by 10 per cent, finishing at N9.02 per share.

FTN Cocoa Processors soared by 10 per cent, ending the session at N3.08 and Neimeth International Pharmaceutical gained by 10 per cent, closing at N4.07 per share.

Also, Presco Plc climbed by 10 per cent, settling at N1,210 per share.

On the others side,  Julius Berger fell by 7.48 per cent, closing at N117.50 while Chams Holding dropped by 5.09 per cent, settling at N2.05 per share.

Secure Electronic Technology declined by five per cent, finishing at 57k and Multiverse Mining shed by 4.66 per cent, ending the session at N9.20 per share.

Similarly, Red Star Express lost by 3.85 per cent, closing at N7.50 per share.

A total of 653.66 million shares worth N21.33 billion were exchanged across 22,206 transactions.

This is compared to 522.81 million shares worth N19.68 billion that was traded across 17,706 deals.

Transactions in the shares of Fidelity Bank topped the activity chart with 141.71 million shares worth N2.66 billion.

Zenith Bank followed with 46.26 million shares valued at N2.35 billion while Nigerian Breweries transacted 38.09 million shares worth N2.21 billion.

FTN Cocoa Processors traded 37.98 million shares valued at N115.90 million while Access Corporation sold 37.93 million shares worth N843.74 million.

The Nigerian stock market continued its bullish trend on Friday, ending the week with N175 billion gain.

Market capitalisation rose by N175 billion, or 0.24 per cent, to close at N74.533 trillion, up from N74.358 trillion recorded on Thursday.

Similarly, the All-Share Index (ASI) rose by 277.09 points, or 0.24 per cent, settling at 118,138.22 from its previous close of 117,861.13.

This uptrend was fueled by strong buying interest in medium and large-capitalised stocks including Legend Internet, Ellah Lakes, Champion Breweries, Guinea Insurance and 33 others.

Meanwhile, the market breadth closed positive, with 37 gainers and 27 losers.

Legend Internet led the advancers chart gaining by 10 per cent, closing at N7.92 while Ellah Lakes rose by 9.90 per cent, settling at N5.33 per share.

Champion Breweries rose by 9.63 per cent, finishing at N8.20 and Guinea Insurance increased by 8.70 per cent, ending the session at 75k per share.

Similarly, ETranzact saored by 7.52 per cent, closing at N7.15 per share.

On the flip side, Sunu Assurances shed by 8.62 per cent, ending the session at N4.56 while Northern Nigeria Flour Mills dropped by 8 per cent, closing at N93.20 per share.

Thomas Wyatt Nigeria fell by 7.83 per cent, settling at N2 and Livestock Feeds declined by 6.90 per cent, finishing at N8.10 per share.

Also, NEM Insurance decreased by 5.03 per cent, closing at N17.00 per share.

A total of 522.81 million shares worth N19.68 billion were exchanged across 17,706 transactions.

This is compared to 893.97 million shares worth N22.03 billion that was traded across 17,257 deals.

Transactions in the shares of Fidelity Bank topped the activity chart with 38.29 million shares worth N741.49 million.

Computer Warehouse Group followed with 24.99 million shares valued at N230.83 million while Zenith Bank sold 24.85 million shares worth N1.23 billion.

WAPIC transacted 24.36 million shares valued at N 48.74 and Access Corporation sold 23.56 million shares worth N517.91 million.

The stock market on Tuesday recorded a positive trend after a day of bearish notes, as key performance indicators soared by 0.03 per cent.

Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation increased by N20 billion, or 0.03 per cent, to N68.965 trillion from N68.945 trillion recorded on Monday.

The All-Share Index also grew by 0.03 per cent, or 32.64 points, to close at 109,730.47, up from 109,697.83 posted on Monday.

The uptrend was driven by cautious trading following the outcome of the 300th meeting of the Monetary Policy Committee (MPC), which held on Monday and Tuesday.

Meanwhile, the market breadth closed negative, with 32 losers and 31 gainers.

On the losers’ chart, Berger dropped by 9.98 per cent, closing at N21.20, while Mutual Benefits Assurance shed 9.80 per cent, settling at 92 kobo per share.

ABC fell by 9.77 per cent, ending the session at N2.40, and Aradel Holdings Plc declined by 8.55 per cent, closing at N460 per share.

Additionally, Caverton Offshore Support Group lost 7.09 per cent, finishing at N3.80 per share.

On the gainers’ chart, Nestlé grew by 10 per cent, settling at N1,464.10, while Regalins also rose by 10 per cent, closing at 66 kobo per share.

Tripple G increased by 10 per cent, finishing at N2.20, and Tantalizer soared by 9.88 per cent, settling at N2.78 per share.

Similarly, Multiverse Mining gained 9.60 per cent, closing at N9.70 per share.A total of 497.06 million shares worth N13.213 billion were exchanged across 18,795 transactions.

This compares to 486.09 million shares worth N11.38 billion that were traded across 24,883 deals earlier on Monday.

Transactions in the shares of Fidelity Bank topped the activity chart with 60.18 million shares worth N1.120 billion.

United Bank for Africa followed with 36.39 million shares valued at N1.26 billion, while Custodian Insurance sold 35.64 million shares worth N698.80 million.

Tantalizer traded 27.59 million shares valued at N76.43 million, and United Capital transacted 26.74 million shares worth N496.39 million.

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria retained the Monetary Policy Rate (MPR) at 27.50 per cent with the asymmetric corridor around the MPR at +500bps/-100bps.

It also retained and the Cash Reserve Ratio (CRR) for deposit money banks at 50 per cent, while the CRR for merchant banks at 16 per cent; and the liquidity ratio at 30 per cent.

Reacting to the resolution, Mr David Adonri, Vice Chairman of the Board at Highcap Securities Ltd., said the resolution would not change any monetary parameter as it aligned with the expectations of many analysts.

“On the two sides of the coin, there are cases of negative things that will affect the economy and positives as well. Both appeared to have nullified themselves.

“The positive indicators remain the financial status of the Federal Government which has improved considerably, looking at the massive foreign reserves and stability in the foreign exchange market.

“Also on a positive note, the first-quarter Gross Domestic Product (GDP) may also show an improvement and the increasing crude oil production.

“On the flip side, we have threats to the economy through insecurity that is affecting rural production and the intention of the U.S. Congress to impose a levy on diaspora remittance,” he said.

The equity market reversed its bullish trend on Wednesday, recording a loss of N186 billion.

Selloffs in major stocks such as MTN Nigeria, Aradel Holdings, Dangote Sugar and Nigerian Breweries drove the market into negative territory.

The market capitalisation of listed equities dropped by N186 billion, or 0.29 per cent, from N63.333 trillion to close at N63.157 trillion.

Similarly, the All-Share Index (ASI) declined by 0.29 per cent, shedding 302 points to close at 102,836.13 compared to 103,137.99 on Tuesday.

Consequently, the Year-To-Date (YTD) return fell to 0.09 per cent.

Market breadth remained flat, with 24 stocks recording gains and 24 posting losses.

On the losers’ chart, Multiverse Mining and Exploration Plc led by 9.87 per cent to close at N10.05, May & Baker trailed by 9.78 per cent to close at N8.30 per share.

Prestige Assurance lost 7.69 per cent to close at N1.31, Guinea Insurance shed 7.45 per cent to close at 87k, Red Star Express also went down by 4.75 per cent to close at 4.81 per share.

Conversely, SCOA Nigeria led the gainers’ chart by 9.70 per cent to close at N3.28, Cadbury Nigeria Plc followed by 9.65 per cent to close at N25 per share.

Secure Electronic Technology Plc gained 9.59 per cent to close at 80k, C&I Leasing added 5.85 per cent to close at N4.34 and FTN Cocoa Processors rose by 5.41 per cent to close at N1.95 per share.

On a breakdown of activities, trade turnover, however, settled higher relative to the previous session, with the value of transactions up by 26.61 per cent.

A total of 394.82 million shares valued at N15.16 billion were exchanged in 10,766 deals, compared with 440.32 million shares valued at N11.97 billion traded in 13,087 deals, posted in the previous session.

Access Corporation led the activity chart in volume with 92 million shares exchanged across 403 trades, while Geregu Power dominated in value of  N5.2 billion.

The equity market began the week on a bearish note, reversing prior session gains with a loss of N62 billion.

The decline was primarily driven by losses in Oando Plc, United Bank for Africa (UBA), Access Corporation, United Capital and Transnational Corporation.

Consequently, the market capitalisation, which opened at N59.534 trillion, dropped by N62 billion or 0.11 per cent to close at N59.472 trillion.

Similarly, the All-Share Index fell by 0.11 per cent or 103.23 points to close at 98,107.52, compared to 98,210.75 recorded on Friday.

The Year-To-Date (YTD) return to 31.21 per cent. Market breadth closed negative with 36 losers against 19 gainers.

Golden Guinea Breweries and NGX Group led the gainers table by 10 per cent each to close at N5.94 and N27.50 per share, respectively.

Tantalizers also followed by 9.92 per cent to close at N1.33, Africa Prudential added 9.72 per cent to close at N11.85 per share.

Wapic Plc added 9.35 per cent to close at N1.17 per share. Secure Electronic Technology Plc led the losers table by 10 per cent to close at 63k per share.

Guinea Insurance trailed by 8.93 per cent to close at 51k, Deap Capital declined by 8.40 to close at N1.09.

Also, Daar Communications shed 7.02 per cent to close at 53k, while RT Briscoe went down by 6.12 per cent to close at N2.30 per share.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 26.33 per cent.

A total of 436.04 million shares valued at N12.86 billion were exchanged in 9,489 deals, compared with 1.04 billion shares valued at N17.46 billion were exchanged in 7,220 deals.

Meanwhile, FCMB Group led the activity chart in volume of 61.65 million shares, while Aradel led in value of deals worth N3.53 billion.

Ahead of the week, analysts at Cowry Asset Management Ltd., predicted that a bullish momentum is expected to persist.

This, they added, would be driven by continued investors’ interest in fundamentally sound stocks.

The analysts said from a technical perspective, the NGX appears to be in a markup phase amidst ongoing recovery and market volatility.

They added that the candlestick patterns and momentum indicators suggest a balanced interplay of market strength and weakness.

“We continue to advise investors to take position in fundamentally sound stocks,” they said.