TheNewsGuru

Tag: NSE

  • NSE records 0.07% marginal growth

    The Nigerian equity market on Friday closed on a positive note with a marginal gain of 0.07 per cent.

    The All-Share Index (ASI) gained 17.82 points, representing a growth of 0.07 per cent to close at 25, 340.02 against 25,322.20 achieved on Thursday.

    Similarly, the market capitalisation gained N6 billion, representing a growth of 0.07 per cent to close at N8.769rillion in contrast to N8.763 trillion posted on Thursday.

    The upturn was largely boosted by value appreciation recorded in some medium and large capitalised stocks, which includes Access Bank, UBN, Zenith Bank , NASCON Seplat , Oando and GT Bank.

    A breakdown of the price movement chart showed that Seplat recorded the highest gain to lead the gainers’ chart to close at N375 per share.

    Beta Glass garnered N1.57 to close at N33 .07, while Zenith Bank improved by 44k to close at N15.45 per share

    Access Bank rose by 33k to close at N6.94 and Air Service N0.24k to close at N2.74 per share.

    On the other hand, Nigeria Breweries topped the losers’ chart, dropping by N3.73 to close at N125 and Ecobank Transnational Incorporated lost 20k to close at N9.80.

    UAC Property dipped 9k to close at N1.89 and Live stock 3k to close at 72k, FBN Holdings N0.03k to close at N3.13 k.

    Also, the volume of shares transacted increased by 40.84 per cent with a total of 201.73 million shares worth N2.59 billion achieved in 2,604 deals.

    This was against the 143.23 million shares valued at N1.55 billion traded in 2,551 deals on Thursday.

    UBN was investors delight accounting for 51.63 million shares worth N252.63 million.

    Fidelity Bank followed with 32.87 million shares valued at N27 .98 million, while Access Bank exchanged 18.73 million shares worth N129.60 million.

    Zenith International Bank accounted for 13.76 million shares valued at N207.23 million and Diamond Bank sold 10.70 million shares worth N9.32 million.

     

    NAN

  • Nestlé Nigeria, Breweries, top losers list on NSE

    Major highly capitalised stocks on Friday posted price depreciation forcing the market indicators to close negatively.

    TheNewsGuru.com reports that Nestlé Nigeria recorded the highest price loss to lead the laggards’ table with a loss of N19. 99 to close at N680 per share.

    Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd., said that investors were selling Nestlé to reposition in low cap stocks that were likely to pay dividend.

    Omordion attributed the development to the company’s dwindling earnings due to foreign exchange instability and other harsh economic policies.

    Nigerian Breweries trailed with a loss of N1.43 to close at N133.11 and UACN shed 79k to close at N15.20 and Guaranty Trust Bank shed 58k to close at N23.02 and Cadbury depreciated by 25k to close at N9.20 per share.

    Consequently, the All-Share Index shed 133.70 points or 0.52 per cent to close at 25,802.54 against 25,936.24 recorded on Thursday.

    Also, the market capitalisation which opened at N8.938 trillion lost N45 billion or 0.52 per cent to close at N8.892 trillion.

    On the other hand, Guinness led the gainers’ table increasing by N2.97 to close at N66.50 per share.

    ETI followed with a gain of 15k to close at N10.30 and Union Bank of Nigeria garnered 6k to close at N5 per share.

    United Capital increased by 5k to close at N3.55, while NPF Microfinance Bank also gained 5k to close at N1.13 per share.

    Also, the volume of shares traded closed lower as investors bought and sold 144.63 million shares valued at N1.22 billion exchanged in 2,350 deals, a decrease of 59.21 per cent.

    NAN reports that this was in contrast with 354.56 million shares worth N1.72 billion transacted in 2,760 deals on Thursday.

    FBN Holdings was the most active, accounting for 34.26 million shares worth N120.20 million.

    Staco Insurance sold 20 million shares valued at N10 million, while GT Bank traded 18.19 million shares worth N423.25 million.

    Diamond Bank accounted for 13.98 million shares valued at N12.57 million and Fidelity Bank sold 9.01 million shares worth N8.02 million

     

    NAN

  • NSE moves 237.79m shares worth N2.19bn

    The Nigerian Stock Exchange, NSE on Friday moved a total of 237.79 million shares valued at N2.19 billion transacted in 2,725 deals in a positive trading.

    TheNewsGuru.com reports that this was in contrast with a turnover of 146.49 million shares worth N1.19 billion achieved in 2,725 deals on Thursday.

    Champion Breweries drove the activity chart with 83.79 million shares valued at N194.41 million.

    It was followed by Zenith Bank, which sold 52.47 million shares worth N826. 58 million and Diamond Bank sold 13.69 million shares valued at N13.63 million.

    UAC Property accounted for 11.73 million shares worth N40.56 million, while investors staked N15.45 million on 11.55 million shares.

    Also, the market indicators sustained an upward trend with the All-Share Index increasing by 38.27 points or 0.15 per cent to close at 26,328.22, against 26,289.95 recorded on Thursday.

    In the same vein, the market capitalisation which opened at N9.045 trillion inched N13 billion to close at N9.058 trillion.

    Total Nigeria led the gainers’ table, gaining N13.96 to close at N298.96 per share.

    Nestle came second with a gain of N10 to close at N750 and 7UP Bottling gained N5.70 to close at N108 per share.

    Zenith Bank appreciated by 50k to close at N16 and Stanbic IBTC added 48k to close at N17.48 per share.

    Conversely, Guinness Nigeria led the losers’ chart, dropping by N1.65 to close at N649 per share, following investors’ reaction to its half year result for the period ended Dec.31, 2016 released to the market.

    Mobil Oil trailed with a loss of 66k to close at N264.50 and Nigerian Breweries shed 47k to close at N142.03 per share.

    NASCON dropped 40k to close at N7.83 and Access Bank declined by 22k to close at N6.73 per share.

     

    NAN

  • Market capitalisation rises by N17bn in positive trading on NSE

    Activities on the Nigerian Stock Exchange (NSE), on Thursday sustained a positive posture with the market capitalisation increasing by N17 billion.

    TheNewGuru.com reports that the market capitalisation which opened at N9.028 trillion appreciated by N17 billion or 0.19 per cent to close at N9.045 trillion, due to gains by some blue chips.

    Similarly, the All-Share Index inched 49.50 points or 0.19 per cent to close at 26, 289.95 compared to 26,240.45 recorded on Wednesday.

    Forte Oil recorded the highest gain to lead the gainers’ table, appreciating by N6.68 to close at N71.88 per share.

    7UP also trailed with a gain of 90k to close at N101.40, while Guaranty Trust Bank chalked up 61k to close at N24. 50 per share.

    Cadbury Nigeria garnered 41k to close at N9.44 and NASCON gained 39k to close at N8.23 per share.

    Mobil led the laggards’ table with a loss of N13.78 to close at N265 per share while Nestle lost N10 to close at N740 and MRS dipped N4.21 to close at N39. 03 per share.

    Guinness dropped N3.50 to close at N3.50 to close at N66.55 and Total shed N2 to close at N285 per share.

    The volume of shares transacted closed lower with a turnover of 146.49 million shares worth N1.19 billion against 190.01 million shares valued at N2.43 billion sold in 2,896 deals on Wednesday.

    AIICO Insurance was the toast of investors, accounting for 30.15 million shares worth N18.09 million.

    Access Bank traded 15.03 million shares valued at N104.88 million and FBN Holdings sold 12.38 million shares worth N43.91 million.

    Diamond Bank exchanged 10.63 million shares valued at N11.01 million and FCMB Group traded 8.39 million shares worth N11.12 million.

     

    NAN

  • Mobil, Forte Oil, others lead activities on NSE

    Major petroleum stocks on Wednesday, topped activities on the Nigerian Stock Exchange (NSE) with Mobil Oil leading the gainers’ chart.

    TheNewsGuru.com reports that Mobil garnered N3 to close at N279 per share.

    Forte Oil followed with a gain of N1.20 to close at N65.20 and Nestle Nigeria gained N1 to close at N750 per share.

    Lafarge Wapco appreciated by 40k to close at N40.40 and NASCON added 37k to close at N7.84 per share.

    As a result, the market capitalisation which opened at N9.020 trillion improved by N8 billion or 0.09 per cent to close at N9.028 trillion.

    Also, the All-Share Index rose by 22.91 points or 0.09 per cent to close at 26,240.45 against 26,217.54 recorded on Tuesday.

    Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd.,said that the market would continue to experience mixed performance with the Monetary Policy Committee (MPC) retention of interest rate at 14 per cent.

    Omordion further said that the decision to retain interest rate 14 per cent would redirect flow of funds in the financial market with investors and traders searching for quick returns and safe haven.

    He also said that the market would continue with oscillating trend till corporate earnings start hitting the market.

    On the hand, Guinness topped the losers’ chart, dropping by 95k to close at N70.05 per share.

    UAC Property Development trailed with a loss of 14k to close at N2.88, while NAHCO shed 12k to close at N2.60 per share.

    Africa Prudential Registar lost 7k to close at N3.12, while Honey Well Floor Mills dropped by 6k to close at N1.15 per share.

    Transcorp drove the activity chart, trading 23.66 million shares worth N18.91 million.

    Presco accounted for 23.42 million shares valued at N1.03 billion and Fidelity Bank traded 20.07 million shares, worth N18.08 million.

    FCMB Group exchanged 14.28 million shares, valued at N18.90 million while Zenith Bank sold 12.03 million shares, worth N185.77 million.

    The investors bought and sold 190.01 million shares, valued at N2.43 billion achieved in 2,896 deals.

    This is in contrast with 187.70 million shares worth N10.43 billion transacted in 3,055 deals.

     

    NAN

  • NSE market capitalisation appreciates by 0.08%

    Transactions on the floor of the Nigerian Stock Exchange, NSE on Friday closed on a positive trend with both market indices recording marginal growth, appreciating by 0.08 per cent.

    This coming after three consecutive days of negative trading.

    The market capitalisation increased by N7 billion to close at N9.022 trillion against N9.015 trillion recorded on Thursday.

    Mobil led the gainers’ table, growing by N12 to close at N276 per share, 7UP followed with a gain of N5.08 to close at N106.73 and Guinness garnered N2.95 to close at N67 per share.

    NASCON gained 30k to close at N7.55, while Stanbic IBTC improved by 28k to close at N16.10 per share.

    Conversely, Total recorded the highest loss to lead the losers’ chart, dropping by N13.97 to close at N261 per share.

    Nestle trailed with a loss of N7 to close at N745, while Seplat shed N5 to close at N365 per share.

    Forte Oil dipped 50k to close at N66.50 and ETI dropped 10k to close at N10 per share.

    Access Bank was investors delight with a total of 31.91 million shares worth N223.35 million.

    United Capital came second with an exchange of 24.99 million shares valued at N81.85 million, while Oando traded 21.11 million shares worth N95.22 million.

    FBN Holdings sold 17.41 million shares valued at N62.21 million, while Fidelity Bank accounted for 14.32 million shares worth N13.03 million.

    The volume of shares traded appreciated by 3.42 per cent as investors bought and sold 203.19 million shares valued at N2.02 billion.

    This was against the 196.47 million shares worth N2.61 million shares exchanged in 2,804 deals on Thursday.

     

    NAN

  • NSE working with MTN to ensure listing – Onyema

    The Chief Executive Officer of Nigerian Stock Exchange (NSE), Oscar Onyema has said NSE is working closely with MTN to ensure its listing on the nation’s bourse.

    Onyema made this known on Thursday, on the sidelines of the NSE 2016 market recap and outlook for 2017 in Lagos.

    Onyema said that the NSE team was working closely with MTN Nigeria, to encourage them to list.

    Onyema however declined to state if the company would list this year, saying issuers decide when to list.

    “I believe that they are very sincere when they said that they will list in 2017.

    “We are working with them but listing and when to list depends on the issuer, but we will work closely with them to encourage them to list,” Onyema said.

    He said that the exchange would witness a lot of new listings in 2017, noting that Med-View Airline would be listed this January, while Jaiz Bank had been given approval to list.

    Recall that MTN Nigeria in June 2016 said that it would list its shares on the NSE in 2017.

    Analysts say the decision was part of agreement the company reached with the Federal Government as a condition for slashing the fine imposed on it by the Nigerian Communications Commission (NCC) from 5.2 billion dollars to N330 billion.

    The fine was imposed when the Nigerian subsidiary, MTN Nigeria, was found to have breached the ‘know-your-customer’ rules, set by the NCC.

    The South African firm in a statement says it has appointed Stanbic IBTC Capital Ltd, Standard Bank of South Africa Ltd. and Standard Advisory London (collectively “Stanbic”) and Citigroup Global Markets Ltd., (“Citi”) as its joint transaction advisors and joint global coordinators.

    On the delisting of companies from NSE, he explained that the market was “free entry, free exit’’.

    Onyema, however, said that the exchange would continue to create a market space for issuers to list and stay in the market.

    According to him, NSE will continue to make the market attractive for issuers to come and raise and stay too.

    He said that the exchange would do a comprehensive review of market makers programme to make them more efficient in the market.

    Speaking on the suspended Code of Corporate Governance (CCG) of the Reporting Council (FRC), Onyema said that the code should be reviewed to be in line with other existing codes in the country.

    Onyema said that the suspended CCG would not affect investors’ confidence in the market.

    He explained that the code needed more work to be consistent and to address the concern of all stakeholders.

    The shareholders, before the suspension of the controversial code, kicked against its stance that says only accountants will be qualified to audit committee members of quoted companies.

     

    NAN

  • NSE market capitalisation dips by N42bn

    Activities on the Nigerian Stock Exchange (NSE) on Wednesday maintained a negative slide with the market indices dropping further by 0.46 per cent following continuous profit taking by investors.

    The market capitalisation, for the second trading day, lost N42 billion or 0.46 per cent to close at N9.116 trillion compared with N9.158 trillion recorded on Tuesday.

    Similarly, the All-Share Index shed 121.85 points or 0.46 per cent to close at 26,495.04, against 26,616.89 achieved on Tuesday.

    An analysis of the price movement table showed that Guaranty Trust Bank led the laggards’ chart, shedding N1.10 to close at N22.90 per share.

    Lafarge Africa came second with a loss of 95k to close at N40 and Forte Oil was down by 62k to close at N83.60 per share.

    Ashaka Cement dipped 59k to close at N11.43, while Ecobank Transnational Incorporated declined by 23k to close at N9.54 per share.

    The volume of shares traded closed lower with an exchange of 602.05 million shares valued at N1.20 billion transacted in 2,150 deals.

    This was against the 3.37 billion shares worth N3.76 billion traded in 2,033 deals on Tuesday.

    Unity Kapital maintained its leadership as the most traded in volume terms with a total of 435.96 million shares worth N335.69 million.

    Omoluabi Savings and Loans followed with 104.00 million shares valued at N83.30 million, while UBA accounted for 9.23 million shares worth N41.67 million.

    United Capital sold 6.71 million shares valued at N19.43 million and GT Bank traded 5.21 million shares worth N120.62 million.

    Conversely, Flour Mills Nigeria led the gainers’ table growing by 49k to close at N18.49 per share.

    Zenith Bank followed with a gain of 19k to close at N14.55 and UAC Property rose by 13k to close at N2.88 per share.

    Vitafoam increased by 12k to close at N2.54 and Africa Prudential Registrars garnered 9k to close at N3 per share.

     

     

    NAN

  • NSE: Forte Oil emerges worst performing stock in 2016, drops by 74.42%

    NSE: Forte Oil emerges worst performing stock in 2016, drops by 74.42%

    Forte Oil Plc. has emerged the worst performing stock in 2016 in percentage terms having dropped by 74.42 per cent.

    Statistics obtained from the Nigerian Stock Exchange (NSE) for the period showed the stock which in 2016 was worth N330 depreciated by 74.42 per cent to close trading at N84.43 per share.

    Skye Bank followed with a loss of 68.35 per cent to close at 50k compared with N1.58 it opened for the year.

    Caverton shed 63.56 per cent to close at 90k against N2.47, while Diamond Bank lost 61.74 per cent to close at 88k in contrast with the year’s opening price of N2.30 per share.

    Sterling Bank dipped 58.47 per cent to close at 70k against N1.83 and Lafarge Africa which opened for 2016 at N96.80 decreased by 57.70 per cent to close at N40.95 per share among others.

    Commenting, Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd., attributed Forte Oil loss to weak earnings and AMCON related deal.

    Omordion said that Skye Bank performance was due to lack of market confidence in its stocks since the change of management by the Central Bank of Nigeria (CBN) and huge loss position posted in 2015 financial year.

    He added that Caverton’s weak earnings and narrow business model affected the company’s price movement, noting that dwindling earnings on increasing non-performing loan affected Diamond Bank shares.

    “Sterling Bank is market forces, while Lafarge Africa is increasing negative position of the company,’’ he said.

    Conversely, Dangote Flour was the best performing stock in percentage terms during the review period having improved by 276.11 per cent to close at N4.25 per share against opening price of N1.13.

    UBA Capital trailed with a growth of 108.40 per cent to close at N2.73 compared with N1.31 and Total which opened at N147.01 rose by 103.39 per cent to close at N299 per share.

    Seplat increased by 87.19 per cent to close 2016 at N379. 99 against the opening price of N203 and Mobil Oil inched 74.38 per cent having closed the year at N279 per share against N160 opening price.

    Seplat improved by 87. 19 per cent to close at N379.99 against N203 it opened for in the year and Mobil rose by 74.38 per cent to close 2016 at N279 per share compared with opening price of N160.

     

    NAN

  • NSE sustains market growth, appreciates by 0.34%

    The Nigerian equity market ended for the year on Friday on a positive note, with indices appreciating by a growth of 0.34 per cent.

    The market capitalisation for the third consecutive day maintained an upward trend, growing by N31 billion or 0.34 per cent to close at N9.246 trillion against N9.215 trillion achieved on Thursday.

    Also, the All-Share Index which opened at 26,782.93 rose by 91.69 points or 0.31 per cent to close at 26,874.62.

    An analysis of the price movement table showed that Nigerian Breweries led the gainers’ table with N5.99 to close at N147.99 per share.

    Guinness Nigeria came second with a gain of N3.05 to close at N83.05, while UACN gained 40k to close at N16.81 per share.

    University Press gained 18k to close at N4.24, while Oando improved by 15k to close at N4.70 per share.

    Conversely, Mobil Oil recorded the highest loss to lead the losers’ table, dropping by N11 to close at N279 per share.

    Forte Oil trailed with a loss of N9.11 to close at N84.43 and Beta Glass dipped N1.51 to close at N30.32 per share.

    Cadbury Nigeria was down by 54k to close at N10.29, while Portland Paint shed 18k to close at N1.80 per share.

    Omoluabi Savings and Loans was the toast of investors with an exchange of 50.50 million shares worth N44.40 million.

    It was trailed by GT Bank having accounted for 33.94 million shares valued at N838.33 million and Access Bank sold 8.81 million shares worth N50.91 million.

    Zenith Bank accounted for 8.45 million shares worth N125.52 million, while United Capital transacted 6.67 million shares valued at N18.64 million.

    In all, investors staked N1.59 billion on 156.96 million shares traded in 1,714 deals.

    This was against a turnover of 117.22 million shares valued at N877.63 million achieved in 2,392 deals on Thursday.