Tag: Equity Market

Equity market opens with N167bn profit gain

The Nigerian equity market opened the week on a positive note, extending gains from the previous session with a N167 billion profit for investors.

Specifically, the market capitalisation, which opened at N56.441 trillion, gained N167 billion or 0.30 per cent to close at N56.608 trillion.

The All-Share Index also advanced by 0.30 per cent or 295 points to close at 99,966.28, compared to 99,671.28 recorded on Friday.

As a result, the Year-To-Date (YTD) return rose to 33.69 per cent.

The market’s performance was primarily driven by gains in MTN Nigeria, alongside Guaranty Trust Holding Company (GTCO), Zenith Bank, and other advanced stocks.

Market breadth closed positive with 29 gainers and 16 losers on the floor of the Exchange.

Cutix Plc led the gainers chart by 9.96 per cent to close at N5.08, followed by Ikeja Hotel, which gained 9.45 per cent to close at N6.95 per share.

Royalex gained 8.96 per cent to close at 73k, Sunu Assurances rose by 8.40 per cent to close at N1.29, and Red Star went up by 8.15 per cent to close at N4.38 per share.

On the other side, Chellaram Plc led the losers’ chart by 9.76 per cent to close at N3.70, while Abbey Mortgage Bank trailed by 7.04 per cent to close at N2.51 per share.

Jaiz Bank lost 5.78 per cent to close at N2.12, Ellah Lakes dropped 5.36 per cent to close at N3, and International Breweries shed 4.20 per cent to close at N3.88 per share.

An analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up 8.02 per cent.

A total of 362.43 million shares valued at N7.37 billion were exchanged in 8,405 deals, compared to 420.90 million shares valued at N6.82 billion exchanged in 7,617 deals posted in the previous session.

GTCO led the activity chart in volume and value with 66.90 million shares worth N3.06 billion, followed by Access Corporation with 44.95 million shares valued at N854.42 million.

First City Monument Bank (FCMB) sold 26.74 million shares valued at N203.08 million, Japaul Gold traded 21.45 million shares worth N41.68 million, and UACN transacted 20.34 million shares worth N287.79 million.

In its weekly forecast, analysts at Cowry Asset Management predicted that market momentum is expected to continue with ongoing bargain hunting and portfolio adjustments.

They suggested that this is in anticipation of the June Consumer Price Index and half-year corporate earnings reports.

According to the analysts, these upcoming economic indicators are likely to influence investors’ decisions and market trends in the face of weak sentiments.

“As the changing market structure and fundamentals persist, investors are advised to position themselves in stocks with sound fundamentals,” they said.

July 16, 2024
Equity market soars as investors gain N409 billion

Investors in the equities market gained N409 billion as the Nigerian Exchange Limited witnessed a slight increase in trading activities in the past week, resulting in the All-Share Index rising by 1.12 per cent week-on-week to reach 67,200.69 points.

The market capitalization of listed equities also saw a 1 per cent increase week-on-week, reaching N36.919 trillion, and the year-to-date return of the All-Share Index rose to 31.12 per cent.

Analysts at Cowry Assets Management Limited noted, “The market remained in a consolidation range with low trading volume and a positive market breadth. The positive trend was driven by increasing expectations for the Q3 earnings season, despite macroeconomic policy uncertainties and corporate announcements of closed periods.”

During the week under review, four out of five trading sessions were bullish, resulting in the N409 billion gains, primarily driven by positive price movements in the Industrial goods index.

In terms of sectoral performance, most indices finished higher, except NGX Consumer Goods, NGX Banking, NGX AFR Bank Value, NGX MERI Growth, and NGX Sovereign Bond, which depreciated by 0.16 per cent, 0.78 per cent, 0.94 per cent, 0.32 per cent, and 0.56 per cent, respectively, while the NGX Premium and NGX ASeM indices closed flat.

In terms of trade volume, over 1.470 billion shares worth N24.431 billion were traded in 29,683 deals by investors on the floor of the exchange, compared to 2.410 billion shares valued at N22.115 billion that exchanged hands the previous week in 27,965 deals.

The Financial Services Industry led the activity chart, contributing 63.25 per cent and 53.00 per cent to the total equity turnover volume and value, respectively. The Healthcare Industry and the Oil and Gas Industry followed in trade volume.

Top-performing stocks for the week included Access Holdings Plc, Neimeth International Pharmaceutical Plc, and Fidelity Bank Plc, contributing significantly to the total equity turnover volume and value.

Some stocks displayed exceptional performance, with strong investor interest, including BUA Cement, CHI Plc, Nigerian Breweries, and Dangote Sugar, whose share prices rose by +13 percent, +13 percent, +9 percent, and +7 percent, respectively.

On the downside, Prestige, Presco, Ecobank Transnational, and Sterling HoldCo were among the losers for the week, with their prices declining week-on-week.

Looking ahead, analysts project a week of mixed sentiments in the market, driven by both bargain hunting and portfolio repositioning. Factors such as the expected inflation figures for September and the release of Q3 corporate earnings reports of listed companies will influence market trends.

Additionally, the forex ban lift on various items by the Central Bank of Nigeria after an eight-year ban, is expected to boost liquidity in the forex market and elicit positive reactions from foreign investors.

October 17, 2023
Nigerian equity market appreciates by 0.31%

Activities on the Nigerian equities market on Friday remained on a positive trend with the market indices appreciating further by 0.31 per cent.

The All-Share Index grew by 78.51 points or 0.31 per cent, to close at 25,817.69, as against the 25,739.18 achieved on Thursday.

Also, the market capitalisation which opened at N8.856 trillion rose by N27 billion, to close at N8.883 trillion.

Forte Oil for the second consecutive day led the gainers’ chart, appreciating by N9.86 to close at N106.23 per share.

Nigerian Breweries followed with a gain of N2.95 to close at N145 and Okomu Oil rose by N1.99 to close at N40 per share.

7Up garnered 64k to N130 and ETI chalked up 34k to close at N9.94 per share.

On the other hand, Seplat topped the losers’ chart having lost N2.90 to close at N340 per share.

Presco dipped N2.20 to close at N41.87, while Mobil lost N2.15 to close at N305 per share.

Large Wapco dropped N2.08 to close at N38.82 and Unilever was down by N1 to close at N45 per share.

However, the volume of shares transacted closed lower as investors bought and sold 108.53 million shares valued at N1.63 billion, exchanged in 2,512 deals.

Recall that this was against the 165.99 million shares worth N1.27 billion traded in 2,485 deals on Thursday.

Diamond Bank remained the most-traded equity with a total of 23.64 million shares worth N20.11 million.

It was followed by Transcorp with 15.13 million shares valued at N12.89 million, while Access Bank accounted for 9.82 million shares worth N52.77 million.

FCMB Group transacted 7.89 million shares valued at N8.06 million and FBN Holdings exchanged 7.39 million shares valued at N25.96 million.

December 9, 2016