TheNewsGuru

Tag: NGX

  • NGX market capitalisation sheds N176bn over selloffs

    NGX market capitalisation sheds N176bn over selloffs

    The domestic bourse on Wednesday halted its three consecutive sessions of gain, as the market capitalisation shed N176 billion or 0.32 per cent. Specifically the Nigerian Exchange Ltd. (NGX) market capitalisation which opened at N55.437 trillion, closed at N55.261 trillion.

    The All-Share Index also lost 0.32 per cent or 307 points to close at 96,203.65, against 96,510.13 recorded on Tuesday. Consequently, the Year-To-Date (YTD) return decreased by 28.66 per cent.

    Selloffs in MTN Nigeria, alongside FBN Holdings, Access Corporation, Wema Bank, amongst other declined equities were the primary drivers of the market’s weak performance. However, market breadth closed positive with 35 gainers and 14 losers on the floor of the Exchange.

    Industrial and Medical Gases led the gainers table by 10 per cent to close at N26.40; and Chams followed with 9.95 per cent to close at N2.32 per share. Oando gained 9.94 per cent to close at N57.85; Livestock Feed Plc rose by 9.91 per cent to close at N2.24; and Eterna Plc advanced by 9.84 per cent to close at N27.90 per share.

    Neimeth International Pharmaceuticals led the losers’ table by 9.09 per cent to close at N2, while Tantalizers trailed by 8.64 per cent to close at 74k per share. MTN Nigeria lost 7.91 per cent to close at N184; Thomas Wyatt dropped 7.06 per cent to close at N1.58; while Jaiz Bank shed 6.25 per cent to close at N2.25 per share.

    Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions lowering by 19.59 per cent. A total of 446.61 million shares valued at N4.53 billion were exchanged in 10,148 deals, compared to 443.16 million shares valued at N5.64 billion traded in 8,493 deals posted previously.

    On the activity chart, Universal led in volume with 52.60 million shares valued at N18.78 million; while Japaul Gold followed with 51.80 million shares worth N145.32 million to lead the chart in value.

    Prestige sold 35.82 million shares valued at N19.53 million; Tantalizers traded 35.14 million shares worth N28.22 million; and Chams transacted 28.73 million shares worth N65.52 million.

  • Nigerian equity market investors lose N64 billion

    Nigerian equity market investors lose N64 billion

    Investors in the Nigerian equity market lost N64 billion on Thursday due to selloffs in Zenith Bank, FBN Holdings, Transcorp Hotels and other stocks.

    The market capitalisation dropped by N64 billion, or 0.12 per cent, closing at N54.983 trillion, down from the opening value of N55.047 trillion.

    Similarly, the All-Share Index decreased by 0.12 per cent, losing 114 points to settle at 95,718.05, compared to Wednesday’s 95,831.51.

    As a result, the Year-To-Date (YTD) return dropped to 28.01 per cent. However, Market breadth closed positive with 22 gainers and 18 losers.

    On the gainers’ chart, Academy Press led by 10 per cent to close at N2.75 per share, while Transcorp Hotel led the losers’ chart by 10 per cent to close at N90 per share.

    Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 19.28 per cent.

    A total of 393.62 million  shares  valued at 5.85 billion were exchanged in 8,243 deals, compared to 360.56 million shares valued at N7.25 billion traded in 8,813 deals posted in the previous session.

    Meanwhile, Universal Insurance led the activity chart in volume with 68.19 million shares, while Oando led in value  with deals worth N1.29 billion.

  • Equity market reverses gain, investors lose N404bn

    Equity market reverses gain, investors lose N404bn

    The domestic bourse reversed its previous session’s gain on Monday, recording a loss of N404 billion or 0.72 per cent for equity market investors.

    The market’s decline was primarily driven by losses in major stocks, including BUA Cement and Tier-one banks such as Zenith Bank and Guaranty Trust Holding Company (GTCO).

    Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation closed at N55.574 trillion, down from its opening value of N55.978 trillion.

    The All-Share Index also decreased by 0.72 per cent, shedding 711.2 points to close at 97,880.94, compared to 98,592.12 recorded on Friday.

    As a result, the Year-To-Date (YTD) return dropped to 30.90 per cent.

    In spite of the overall decline, market breadth remained positive with 29 gainers and 20 losers on the Exchange.

    On the gainers chart, Julius Berger led by 10 per cent to close at N121 per share, while BUA Cement led the losers chart by 9.93 per cent to close at N114.30 per share.

    Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 44.11 per cent.

    A total of 498.27 million shares valued at N11.77 billion were exchanged in 10,645 deals, compared to 477.44 million shares valued at N8.17 billion traded in 9,529 deals posted in the previous session.

    Meanwhile, GTCO led the activity chart in volume and value with 123.92 million shares worth N5.66 billion.

  • Stock market rebounds, investors gain N97bn

    Stock market rebounds, investors gain N97bn

    The Nigerian stock market rebounded with positive momentum on Wednesday, adding N97 billion to investors’ portfolios.

    Specifically, the market capitalisation of listed equities, which opened at N55.033 trillion, advanced by 0.18 per cent or N97 billion to N55.130 trillion.

    The All-Share Index also increased by 0.18 per cent or 171 points to settle at 97,098.98, against 96,928.52 recorded on Tuesday.

    Consequently, the Year-To-Date return rose to 29.86 per cent.

    Market breadth also closed positive with 27 gainers and 22 losers.

    On the gainers’ table, Redstarex led by 10 per cent to close at N4.18, Oando trailed closely by 9.98 per cent to close at N33.60 per share.

    RT Briscoe and United Capital gained 9.90 per cent each to close at N1.11 and N16.10 per share respectively, while Industrial and Medical Gases added 9.87 per cent to close at N17.25 per share.

    On the other hand, Neimeth led the losers’ table by 7.69 per cent to close at N1.80, Honeywell Flour followed by 6.10 per cent to close at N3.85 per share.

    Sovereign Trust Insurance  dropped 5.56 per cent to close at 51k, Deap Capital Management and Trust Plc declined by four per cent to close at 48k, and Ecobank Transnational Incorporated shed 3.72 per cent to close at N20.70 per share.

    Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 89.59 per cent.

    A total of 636.50 million shares worth N12.77 billion was exchanged in 9,744 deals, in contrast to 449.21 million shares valued at N6.74 billion traded in 9,381 deals posted in the previous session.

    Meanwhile, Access Corporation emerged as the most traded stock in volume with 112.62 million shares worth N2.11billion.

    Also, Guaranty Trust Holding Company (GTCO) led in value with 74.34 million shares valued at N3.34 billion.

  • Equity market losses N93bn as MTN, Transcorp stocks decline

    Equity market losses N93bn as MTN, Transcorp stocks decline

    The Nigerian equity market started the week on a negative note, losing N93 billion due to sell-offs in MTN Nigeria, Transnational Corporation (Transcorp), and other declining stocks.

    Specifically, the market capitalisation, which opened at N55.497 trillion, shed N93 billion or 0.17 per cent to close at N55.404 trillion.

    Also, the All-Share Index dropped by 0.17 per cent or 163 points to settle at 97,582.41, compared to 97,745.73 posted on Friday.

    As a result, the Year-To-Date (YTD) return decreased to 30.50 per cent.

    Market breadth closed negative with 25 laggards compared to 23 gainers on the floor of the Exchange.

    On the losers’ table, Chams led by 22k to close at N1.98, UPL trailed by 24k to close at N2.18, while The Initiative Plc lost 18k to close at two Naira per share.

    Omatek also decreased by 5k to close at 56k and Champion went down by 25k to close at N3.01 per share.

    On the other side, International Breweries led the gainers’ table by 42k to close at N4.62, Presco Plc followed by N44.10 to close at N485.10 per share.

    Sovereign Trust Insurance rose by 5k to close at 55k, United Capital gained N1.20 to close at N13.35 and Oando advanced by N2.50 to close at N27.80 per share.

    Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 57.36 per cent.

    A total of 324.02 million shares valued at N6.22 billion were exchanged in 9,738 deals, against 210.91 million shares valued at N3.95 billion that exchanged hands in 6,603 deals recorded in the previous session.

    Meanwhile, Zenith Bank led the volume and value charts, with 36.99 million shares worth N1.33 billion.

    Ahead of the week, analysts at Cowry Asset Management Ltd., forecast a mixed trend with a possibility of profit-taking at the Nigerian stock market.

    The analysts said that investors were likely to engage in sectoral rotation, capitalising on stocks that experienced pullbacks to position themselves strategically.

    They said that this rotation strategy was expected to create buying opportunities, especially in anticipation of upcoming releases and dividend announcements from major banking institutions in the corporate reporting season.

    “As the market structure and fundamentals evolve, investors are advised to position themselves in stocks with sound fundamentals to navigate the prevailing conditions effectively,” the analysts advised.

  • Stock market sheds N235bn amidst nationwide protest

    Stock market sheds N235bn amidst nationwide protest

    The stock market experienced a bearish start to the month, shedding N235 billion in value amid cautious investor sentiment triggered by ongoing nationwide protest.

    Specifically, market capitalisation reduced to N55.278 trillion from an opening of N55.513 trillion, having shed N235 billion or 0.42 per cent from investors’ portfolios.

    The All-Share Index also declined by 0.42 per cent or 415 points to 97,359.76, in contrast to 97,774.22 posted on Wednesday.

    The main decliners that led the market’s downward trend were FBN Holdings, MTN Nigeria, Dangote Sugar, Oando, Transnational Corporation, FCMB Group, among others.

    Despite the downturn, market breadth, however, closed positive with  22 gainers and 19 losers.

    On the gainers’ table, United Capital led by 9.95 per cent to close at N11.05, Africa Prudential and Cutix Plc trailed closely by 9.94 per cent each to close at N9.40 and N5.64 per share, respectively.

    Tantalizers gained 9.52 per cent to close at 46k and UPDC Real Estate Investment Trust advanced by 8.99 per cent to close at N4.85 per share.

    Conversely, Mecure led the losers’ table by 9.94 per cent to close at N8.15, Thomas Wyatt followed by 9.74 per cent to close at N1.76 per share.

    Wapic Insurance lost 8.24 per cent to close at 78k, Oando shed eight per cent to close at N23, and Dangote Sugar dropped 7.67 per cent to close at N34.30 per share.

    Analysis of the market activities indicated trade turnover settled higher relative to the previous session, with the value of transactions down by 63.09 per cent.

    A total of 565.12 million shares valued at N8.53 billion were exchanged in 6,821 deals, against 1.84 billion shares valued at N23.11billion in 10,847 deals traded in the previous session.

    Meanwhile, Fidelity Bank led the activity table in terms of volume and value with 372.91 million shares worth N3.94 billion, United Bank For Africa(UBA) followed with 23.03 million shares worth N458.09.

    Zenith Bank transacted 19.24 million shares valued at N651.44 million, Oando Plc sold 19.04 million shares worth N445.43 million and Access Corporation traded 15.76 million shares valued at N289.55 million.

  • NGX market capitalisation drops N171bn

    NGX market capitalisation drops N171bn

    The stock market capitalisation shed N171 billion or 0.31 per cent, closing at N55.545 trillion from an opening of N55.716 trillion.

    The All-Share Index also fell by 0.31 per cent or 302 points to close at 97,830.65, down from 98,132.15 recorded on Monday.

    As a result, the Year-To-Date (YTD) return decreased to 30.84 per cent.

    The market’s weakness was primarily driven by selling pressures in stocks like Zenith Bank, Guaranty Trust Holding Company (GTCO), Access Corporation, FBN Holdings, Dangote Sugar and Transnational Corporation, among others.

    Market breadth closed negative, with 31 losers and 19 gainers on the floor of the Exchange.

    On the losers’ chart, United Capital led 30 other declined equities by 9.92 per cent to close at N34.05 per share, while ABC Transport led 18 other advanced equities by 10 per cent to close at 77k per share.

    On a breakdown of market activities, trade turnover settled lower relative to the previous session, with the value of transactions down by 8.11 per cent.

    A total of 399.39 million shares valued at N8 billion were exchanged in 10.447 deals, compared to 379.13 million shares valued at N8.71 billion exchanged in 10.096 deals posted in the previous session.

    Meanwhile, Zenith Bank led the volume and value chart with 44.24  million shares valued at N1.51billion.

  • NGX delists Niger Insurance, 2 others

    NGX delists Niger Insurance, 2 others

    The Nigerian Exchange Ltd.(NGX) has delisted the shares of Niger Insurance Plc, Resort Savings and Loans Plc and RAK Unity Petroleum Plc from its facilities, effective July 18.

    NGX, in its weekly report, said that the three companies were delisted on the grounds that they were operating below the listing standards of the Exchange.

    The Exchange noted that the securities of the affected companies were also no longer considered suitable for continued listing and trading in the market.

    It said: “Trading license holders and the investing public are hereby notified that pursuant to the provisions of Clause 15 of the General Undertaking.

    “Appendix iii Of the Rule Book of The Exchange, 2015, Part II, Issuers’ Rules Delisting process which states that: to recognise that council reserves the right to remove the name of a company from the official list of the Exchange at its absolute discretion.

    “And may, if: it considers there is insufficient public interest in the company, viz, insufficient shares in the hands of the public; or any of the foregoing terms and conditions are not complied with; or the company becomes a subsidiary of any other company.

    On trading for the week, the Nigerian stock market recovered from its previous week loss, leading to a profit of N488 billion for investors.

    Specifically, the NGX All-Share Index and market capitalisation appreciated by 0.87 and 0.86 per cent to close the week at 100,539.40 and N56.929 trillion respectively, as against 99,671.28 and N56.441 trillion recoded in the previous week.

    Similarly, all other indices finished higher with the exception of NGX Banking, NGX Insurance, NGX AFR Bank Value, NGX Consumer Goods, NGX Oil and Gas.

    Also, the NGX Growth and NGX Sovereign Bond which depreciated by 0.05 per cent, 4.86 per cent, 0.07 per cent, 0.20 per cent, 0.10 per cent, 0.43 per cent and 4.35 per cent, respectively while the NGX ASeM index closed flat.

    Meanwhile, a total turnover of 2.827 billion shares worth N42.366 billion in 44,277 deals was traded this week by investors, in contrast to 2.765 billion shares valued at N85.230 billion that exchanged hands last week in 40,796 deals.

    The Financial Services Industry measured by volume led the activity chart with 2.179 billion shares valued at N30.667 billion traded in 25,260 deals; thus contributing 77.08 and 72.38 per cent to the total equity turnover volume and value respectively.

    The Industrial Goods Industry followed with 246.921 million shares worth N2.039 billion in 2,068 deals.

    The third place was the Oil and Gas Industry, with a turnover of 107.218 million shares worth N1.704 billion in 3,128 deals.

    Trading in the top three equities namely: Jaiz Bank Plc, Cutix Plc and FCMB Group Plc measured by volume accounted for 1.140 billion shares worth N4.632 billion in 2,701 deals.

    Thus contributing 40.32 and 10.93 per cent to the total equity turnover volume and value respectively.

    Also, 37 equities appreciated in price during the week higher than 34 equities in the previous week.

    Thirty-four equities depreciated in price lower than 38 in the previous week, while 80 equities remained unchanged, lower than 82 recorded in the previous week.

    United Capital led 36 other advanced equities on the gainers table by 42.78 per cent to close at N40.55 per share, while Linkage Assurance Plc led 33 other declined equities by 24.56 per cent to close at 86k per share.

    Meanwhile, in the coming week, Analysts at Cowry Asset Management Ltd., have predicted that anticipation of more earnings releases and attractive dividend declarations by corporates is expected to drive positive sentiment across counters.

    They, however, noted that the outcome of the Monetary Policy Committee (MPC) meeting, along with other economic news, could stir mixed sentiments.

    “Market players will be closely analysing these developments to understand their potential impact on investments,” the analysts said.

  • NGX: Value of transactions up 9.98%

    NGX: Value of transactions up 9.98%

    The value of transactions on the floor of the Nigerian Exchange Ltd. (NGX) on Friday advanced by 9.98 per cent compared to the previous session, closing the week on a positive note.

    Specifically, 603.88 million shares valued at N9.16 billion were exchanged in 9,988 deals, compared to 392.80 million shares valued at N8.33 billion traded in 9,013 deals recorded on Thursday.

    Demand for MTN Nigeria, Transnational Corporation, Fidelity Bank, First City Monument Bank (FCMB), and United Capital, among other equities, drove the market’s positive performance.

    As a result, investors gained N20 billion or 0.04 per cent, with market capitalisation closing at N56.928 trillion, up from N56.908 trillion.

    The All-Share Index also rose by 0.04 per cent or 36.3 points to settle at 100,539.40, compared to 100,503.21 previously.

    However, market breadth closed negative with 29 laggards and 17 gainers on the floor of the Exchange.

    Cutix led led 28 other declined equities on the losers’ chart by 8.55 per cent to close at N5.99, and Sovereign Trust Insurance led 16 other advanced equities the gainers chart by 4.26 per cent to close at 49k per share.

    Meanwhile, FCMB led the activity chart in volume with 114.12 million shares valued at N896.12 million, Jaiz Bank followed with 103.35 million shares worth N224.52 million.

    UCAP sold 56.76 million shares worth N2.29 billion to lead the chart in value,GTCO traded 37.55 million shares valued at N1.70 billion, Universal Insurance transacted 33.35 million shares worth N11.36 million.

  • Equity market opens with N167bn profit gain

    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.