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Tag: NGX

  • Stock market opens with N37bn gain

    Stock market opens with N37bn gain

    The stock market started the week on a positive note on Monday, with investors’ portfolios gaining N37 billion.

    Specifically, the market capitalisation, which opened at N63.166 trillion, increased by N37 billion or 0.06 per cent to close at N63.203 trillion.

    Similarly, the All-Share Index rose by 62 points or 0.06 per cent to settle at 103,648.24, compared to 103,586.33 recorded on Friday.

    Consequently, the Year-To-Date (YTD) return rose to 0.70 per cent.

    Buyers’ interest in Tier-one banks, namely, Zenith Bank, FBN Holdings, Access Corporation, alongside other advanced equities drove the market performance up.

    Market breadth closed positive with 50 gainers and 21 losers.

    Daar Communications and Wema Bank led the gainers’ chart by 10 per cent each to close at 77k and N11 per share, respectively.

    Honeywell Flour Mills followed closely by 9.99 per cent to close at N8.37, and Wapic gained 9.96 per cent to close at N2.98 per share.

    LASACO Assurance Plc also increased 9.95 per cent to close at N4.09 per share.

    On the other hand, Cutix led the losers’ chart by 5.45 per cent to close at N2.60, Caverton trailed by 5.36 per cent to close at N2.65 per share.

    Jaiz Bank lost 5.23 per cent to close at N3.08, Champion dropped 4.53 per cent to close at N4 and Ikeja Hotel decreased by 4.26 per cent to close at N12.35 per share.

    Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 60.73 per cent.

    A total of 855.97 million shares valued at N13.25 billion were exchanged in 16,505 deals, compared with 709.28 million shares valued at N8.24 billion traded in 13,593 deals posted previously.

    Meanwhile, Chams led the activity chart in volume with 80.76 million shares, while Guaranty Trust Holding Company(GTCO)led in value of deals worth N3.07 billion.

    In a market outlook for the week, analysts at Cowry Asset Management Ltd., said that the robust start to 2025 underscored the growing appeal of the Nigerian Exchange as a hub for portfolio diversification.

    The analysts explained that sectors such as insurance, banking, consumer goods, and industrial goods saw notable investor interest, with a focus on stocks poised to deliver substantial returns in the near term.

    Looking ahead, they noted that market sentiment remains bullish, although some profit-taking could moderate gains in the short term.

    “Overall, the outlook for 2025 is optimistic, with expectations of sustained investor confidence and market resilience.

    “Thus, we continue to advise investors to take a position in stocks with strong upsides and fundamentals,” they said.

  • Investors gain N248bn as NGX closes positive

    Investors gain N248bn as NGX closes positive

    The domestic bourse on Friday sustained its positive momentum to close the week with N248 billion gain.

    Specifically, the market capitalisation, which opened at N62.918 trillion, added N248 billion or 0.39 per cent to close at N63.166 trillion.

    The All-Share Index also advanced by 0.39 per cent or 406.2 points, to close at 103,586.33, against 103,180.14 recorded on Thursday.

    Sustained investors interest in Teir-one banks, namely, Zenith Bank, United Bank For Africa(UBA) and Access Corporation, alongside other advanced equities drove the market up.

    As a result, the Year-To-Date (YTD) return increased to 0.64 per cent. Market breadth closed positive with 67 gainers and 11 losers.

    On the gainers’ table, Abbey Mortgage Bank, Chams Plc, Learn Africa, NCR Nigeria and Omatek led by 10 per cent each to close at N3.30, N2.31, N4.95, N6.05 and 88k per share, respectively.

    Conversely, Total Nigeria led the losers’ table by 9.74 per cent to close at N630, Computer Warehouse Group trailed by 6.04 per cent to close at N7 per share.

    Thomas Wyatt lost 5.26 per cent to close at N1.80, ABC Transport dropped 4.07 per cent to close at N1.18 and UACN shed 3.19 per cent to close at N31.90 per share.

    Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 45.48 per cent.

    A total of 709.28 million shares valued at N8.24 billion were exchanged in 13,593 deals, compared with 829.75 million shares valued at N5.67 billion traded in 11,752 deals, posted previously.

    Meanwhile, Chams led the activity chart in volume with 58.07 million shares, while FBN Holdings led in value of deals worth N492.64 million.

  • Stock market opens 2025 with N155bn gain

    Stock market opens 2025 with N155bn gain

    The stock market started the year on a strong note, delivering an impressive N155 billion profit to investors on the first trading day.

    The positive performance was driven primarily by gains in Tier-one banking stocks, namely, Zenith Bank, United Bank for Africa (UBA) and FBN Holdings, Access Corporation, among other equities.

    Specifically, the market capitalisation, which opened at N62.763 trillion, gained N155 billion or 0.25 per cent to close at N62.918 trillion.

    The All-Share index also gained 0.25 per cent or 254 points, to close at 103,180.14, against 102,926.40 reported on Tuesday.

    As a result, the Year-To-Date (YTD) return stood at 0.25 per cent. Market breadth also closed positive with 58 gainers and eight losers.

    Cornerstone Insurance, Cutix Plc, International Energy Insurance Plc, NCR Nigeria and Axa Mansard Insurance led the gainers’ chart by 10 per cent each to close at N3.96, N2.53, N1.87, N5.50 and N9.02 per share, respectively.

    On the losers’ side, Ellah Lakes Plc led by 4.75 per cent to close at N3.01, National Salt Company trailed by 4.31 per cent to close at N30 per share.

    Computer Warehouse Group also lost 3.25 per cent to close at N7.45, Fidelity Bank dropped 2.86 per cent to close at N17, while International Breweries Plc shed 0.90 per cent to close at N5.50 per share.

    Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 85.95 per cent.

    A total of 829.75 million shares valued at N5.67 billion were exchanged in 11,752 deals, compared with 437.76 million shares valued at N40.34 billion  exchanged in 8,830 deals, posted in the previous session.

    Meanwhile, Royal Exchange led the activity chart in volume with 290.99 million shares while Access Corporation led in value of deals worth N430.78 million.

  • Investors gain N183bn on NGX

    Investors gain N183bn on NGX

    The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.

    Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.

    The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.68, against 98,206.97 recorded on Tuesday.

    Consequently, the Year-To-Date (YTD) return increased to 31.74 per cent.

    Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.

    Market breadth closed positive with 34 gainers and 17 losers.

    On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.

    Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.

    On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.

    Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.

    Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.

    A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.

    Meanwhile, ETranzact led the  activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.

  • Equity market loses N62bn

    Equity market loses N62bn

    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.

  • Investors react to interest rate tightening as NGX loses N209bn

    Investors react to interest rate tightening as NGX loses N209bn

    The Nigerian stock market recorded a loss of N209 billion in market capitalisation on Wednesday, as investors reacted negatively to the Central Bank of Nigeria’s (CBN) recent interest rate hike.

    The Monetary Policy Committee (MPC) of the CBN raised the Monetary Policy Rate (MPR) by 25 basis points to 27.50 per cent in November, up from 27.25 per cent in September.

    The Governor of the Central Bank od Nigeria (CBN), Mr Olayemi Cardoso, announced this decision following the 298th MPC meeting in Abuja. He said that the hike aimed to tackle rising inflation, which stood at 33.87 per cent in October.

    Following the announcement, the Nigerian Exchange Ltd. (NGX) market capitalisation dropped from N59.178 trillion to N58.969 trillion, a 0.35 per cent decline.

    Similarly, the All-Share Index fell by 330 points to close at 97,296.57, down from 97,626.27 on Tuesday, reducing the Year-to-Date return to 30.12 per cent.

    Losses in stocks such as Aradel, Fidelity Bank and Nigerian Breweries contributed to the downturn. The market breadth closed negative; 26 stocks declined, while 23 gained.

    JohnHolt led the losers’ chart with a 10 per cent decline to N9.90 per share, while Sunu Assurances topped the gainers’ list with a 9.97 per cent rise to N4.19 per share.

    Market activity increased, with 822.46 million shares valued at N10.29 billion traded in 9,385 deal, representing 28.07 per cent rise in transaction value compared to the previous session.

    Japaul Gold led in trading volume with 115.93 million shares, while Guaranty Trust Holding Company (GTCO) dominated value transactions with N1.52 billion.

    Analysts at Cowry Asset Management Ltd. had predicted mixed market directions ahead of the MPC’s decision, noting its potential impact on interest rate expectations and investment strategies.

    They also highlighted opportunities for strategic positioning in fundamentally strong stocks as November trading wraps up and fund managers prepare for December’s window-dressing activities.

  • Equity market rebounds with N217bn gain

    Equity market rebounds with N217bn gain

    The equity market rebounded on Thursday, adding N217 billion to investors’ portfolios. The gain was driven by stocks like Zenith Bank, Access Corporation, Aradel, among others.

    Specifically, the market capitalisation rose by 0.37 pr cent, increasing from N58.515 trillion to N58.732 trillion.

    Similarly, the All-Share Index gained 0.37 per cent, closing at 96,924.86 points, up from Wednesday’s 96,567.24.

    This increase made the Year-To-Date (YTD) to stand at 29.62 per cent, with a positive market breadth of 33 gainers and 17 losers.

    Conoil and Aradel Holdings led the gainers’ table by 10 per cent each to close at N236.50 and N441.20 per share, respectively.

    Eunisell gained 9.42 per cent to close at N8.20, JohnHolt added 9.77 per cent to close at N4.38, while Thomas Wyatt Nigeria advanced by 9.71 per cent to close at N1.92 per cent.

    On the other side, Tantalizers led the losers’ table by 6.25 per cent to close at 60k, NGX Group trailed by N5.81 per cent to close at N23.50 per share.

    Wema Bank lost 5.63 per cent to close at N7.55, RT Briscoe decreased by N4.46 per cent to close at N3, while FCMB declined by 3.59 per cent to close at N9.40 per share.

    Analysis of the market activities showed that trade turnover settled higher, compared to the previous session, with the value of transactions which increased by 64.10 per cent.

    A total of 744.5 million shares valued at N16.48 billion were exchanged in 9,700 deals, compared with 418.39 million shares valued at N10.04 billion traded in 9,021 deals posted previously.

    Meanwhile, Japaul Gold led the activity chart in volume with 100.93 million, while Julius Berger led in value of deals worth N4.55 billion.

  • NGX: Trading in shares of Oando Plc suspended

    NGX: Trading in shares of Oando Plc suspended

    The Nigerian Exchange Regulation Limited (NGX RegCo), the regulatory arm of the NGX, on Thursday, suspended tradings in the shares of Oando Plc.

    This is contained in a notice signed by the Head, Issuer Regulation Department, Mr Godstime Iwenekhai, and sent to trading licence holders.

    Iwenekhai stated that Oando failed to submit its audited financial statements for the year ended, Dec. 31, 2023.

    He cited provisions of Rule 3.1 for filing of accounts and treatment of Default Filling Rules.

    The provisions state: ‘If an issuer fails to file the relevant accounts by the expiration of the Cure Period, the Exchange will (a) send to the issuer a Second Filing Deficiency Notification within two business days after the end of the Cure Period.

    ‘(b) suspend trading in the issuer’s securities, and (c) notify the Securities and Exchange Commission (SEC) and the Market within 24 hours of the suspension.’

    Recall that in a corporate notice filed with the NGX earlier, Oando blamed the delay on the acquisition of Nigerian Agip Oil Company, which was completed on Aug. 22.

    Also, the Johannesburg Stock Exchange suspended trading in Oando shares in March due to its inability to meet the extended deadline to publish its 2022 audited year-end results.

    Oando, listed both on the NGX and JSE, also failed to meet the deadline to publish its interim results for 2023 as at the time of JSE suspension, which was, however, lifted in June.

    In its unaudited results for 2023, Oando rebounded from a N78.71 billion loss in 2022, to record N74.7 billion profit in 2023.

    The group saw its turnover increased by 71 per cent to N3.4 trillion at the financial year ended, Dec.31, 2023, compared to N1.9 trillion recorded in 2022.

  • NGX reverses gain, investors lose N148bn to selloffs

    NGX reverses gain, investors lose N148bn to selloffs

    The stock market reversed its gain on Wednesday, losing N148 billion or 0.25 per cent amid selling pressure in several key stocks.

    The decline was primarily driven by selloffs in Aradel Holdings, Zenith Bank, FBN Holdings, Access Corporation, and Fidelity Bank, among others.

    As a result, the market capitalisation, which opened at N59.707 trillion, dropped by N148 billion to close at N59.559 trillion.

    Similarly, the All-Share Index declined by 0.25 per cent, shedding 249.4 points to close at 98,291.53, compared to 98,540.93 recorded on Tuesday.

    Consequently, the Year-To-Date (YTD) return fell to 31.45 per cent.

    However, market breadth remained flat, with 23 gainers and 23 losers on the Exchange.

    Custodian & Allied Plc led the losers chart by N1.15 to close at N11.65, Okomu Oil trailed by N24.90 to close at N338.10 per share.

    Consolidated Hallmark Plc lost 10k to close at N1.41, Aradel dropped N48 to close at N820, while McNichols shed 7k to close at N1.35 per share.

    On the gainers’ chart, Deap Capital Management and Trust Plc led by 12k to close at N1.32, UACN followed by N1.95 to close at N21.65 per share.

    Dangote Sugar gained N3.10 to close at N35.10, Champion appreciated by 33k to close at N3.75, while Daar Communications added 5k to close at 59k per share.

    Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down 66.46 per cent.

    A total of 257.55  million shares valued at N9 billion were exchanged in 7,776 deals, against 286.04 million shares valued at N26.82 billion traded by investors in 9,650 deals previously.

    Fidelity Bank led the activity chart in volume with 38.21 million, while Aradel Holdings led in value of deals worth N3.15 billion.

  • Stock market sustains gain with N197bn

    Stock market sustains gain with N197bn

    The Nigerian stock market extended its positive momentum on Tuesday, posting a 0.33 per cent gain. This gain added N197 billion to investors’ portfolios.

    The market capitalisation, which opened at N59.510 trillion, closed higher at N59.707 trillion.

    Similarly, the All-Share Index (ASI) rose by 0.33 per cent, advancing by 326 points to close at 98,540.93, compared to 98,215.13 recorded on Monday.

    As a result, the Year-To-Date (YTD) return increased to 31.79 per cent.

    The market’s upward movement was driven by gains in key equities, including Guaranty Trust Holding Company (GTCO), Access Corporation and Oando Plc.

    However, the Market breadth closed negative with 28 losers and 15 gainers.

    On the losers’ side, Caverton led 27 other declined stocks by 10 per cent to close at N2.34 per share, while Champion led 14 other advanced stocks to close at N3.42 per share.

    Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 36.07 per cent.

    A total of 286.04 million shares valued at N26.82 billion were exchanged in 9,650 deals,compared with 304.97 million shares valued at N19.71 billion traded in 8,083 deals posted previously.

    Meanwhile, Access Corporation led the activity log in volume with 45.95 million shares, while Seplat led the chart in value with deals worth N1.18 billion.