Stock Market

Stock Market Extends Decline as GTBank, Zenith, Access Bank Nosedive

Published

4 years ago

July 14, 2020

Samed Olukoya

Nigerian Exchange Limited - Investors King

GTBank, Zenith, Access Bank Drag Stock Market Down

The Nigerian Stock Exchange extended decline on Tuesday as stocks of top listed firms closed in the red.

Investors traded 208.203 million shares valued at N1.059 billion in 4,174 transactions during the trading hours.

The market capitalisation of listed equities declined by N44 billion from N12.624 trillion to N12.580 trillion on Tuesday. While the NSE All-Share Index declined by 0.36 percent to 24,114.59 basis points, down from the 24,200.60 bps recorded on Monday. See details below.

Top Traded Stocks

Symbols	Volume	Value
STERLNBANK	78,917,069	N98,648,210.70
UBA	15,776,635	N96,028,531.00
JAPAULOIL	12,793,243	N3,215,788.55
FBNH	10,933,254	N56,003,847.95
ZENITHBANK	10,644,850	N167,105,218.25

Top Gainers

Symbols	Last Close	Current	Change	%Change
UNILEVER	N12.45	N13.65	1.2	9.64%
BUACEMENT	N41.2	N41.45	0.25	0.61%
JAIZBANK	N0.54	N0.56	0.02	3.70%
TRANSCORP	N0.62	N0.64	0.02	3.23%
NEM	N2.05	N2.06	0.01	0.49%

Top Losers

Symbols	Last Close	Current	Change	%Change
GUARANTY	N22	N21.3	-0.7	-3.18%
ZENITHBANK	N16.2	N15.6	-0.6	-3.70%
GLAXOSMITH	N4.8	N4.35	-0.45	-9.38%
ACCESS	N6.3	N6.1	-0.2	-3.17%
AFRIPRUD	N4.25	N4.07	-0.18	-4.24%

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Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Nigerian Exchange Limited

Stock Investors Gain N131 Billion on Tuesday

Published

8 hours ago

September 18, 2024

Samed Olukoya

Nigeria’s equities market opened the holiday-shortened trading week in green as investors bought banking and consumer goods stocks despite record profit taking in insurance, industrial, oil & gas stocks.

“Looking forward, the equities market is expected to retain its buy interest as investors cherry-pick undervalued stocks. However, given the sentiment that rates might have peaked in the fixed income and money markets and investors locking in on current rates, we expect some bearish undertone to persist in the equities market,” according to United Capital research analysts.

The analysts said the bulls “will remain incentivised to persist in bargain hunting, given the tremendous mid-long-term opportunities in the equities market. Fund managers and businesses may begin to entertain mid-long-term (≥6 months) investment objectives, cherry-picking only sound equities with strong fundamentals and ongoing corporate actions. This strategy will maximise market opportunities, thereby optimising portfolio returns”.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation appreciated by 0.23 percent and N131billion from preceding day’s 97,456.62 points and N56.002 trillion respectively to 97,685.63 points and N56.133 trillion.

The market’s year-to-date (YtD) return rose to 30.64 percent.

According to Meristem research analysts, “While we expect subdued participation in the Nigerian equities market this week, we anticipate that buying activity will outweigh profit-taking. Our outlook is hinged on the belief that no major negative catalysts are expected to shift market direction this week. We anticipate that investors will continue selective buying, seeking opportunities across various sectors.

“Additionally, macroeconomic developments and corporate actions from companies could stimulate moderate buying interest in the market. We also do not foresee a significant shift towards the fixed-income market as yields have started to stabilize. However, we acknowledge the potential for profit-taking as short-term investors may look to capitalize on recent gains. Overall, we expect the market to close in the green zone this week,” Meristem analysts said.

Dividends

Guaranty Trust Holding Company Declares N1 Interim Dividend, Sets October 7 for Payout

Published

6 days ago

September 13, 2024

Investors King

Guaranty Trust Holding Company Plc has announced its plan to pay a sum of N1 per share of 50 kobo as interim dividends, to all registered shareholders on October 7, 2024.

According to a recent statement issued by the company on NGX , “the dividend is subject to withholding tax deduction, and will be paid to shareholders whose names appear in the register as of September 25, 2024.”

In its recently released audited consolidated and separate financial statements for the period ended June 30, the Group reported profit before tax (PBT) of N1.004 trillion, becoming the first Nigerian financial institution to cross the N1 trillion mark in profit.

This represented a 206.6 percent increase over N327.4 billion recorded in the corresponding period that ended June 2023.

The group’s profit for the period was slated at N905.67 billion, a 222 percent increase from 280.52 recorded in the corresponding period that ended June 2023.

“On October 7, 2024, the dividend will be paid electronically to ordinary shareholders whose names appear on the Register of Members as at September 25, 2024, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly to their bank accounts,” the statement said.

Nigerian Exchange Limited

Nigeria’s Equities Market Gains 0.32% Boosted by Nestle, Flourmills, and FBN Holdings

Published

6 days ago

September 13, 2024

Investors King

Nigeria’s equities market rose by 0.32 percent or N178billion on Thursday, thanks to Nestle, Flourmills and FBN Holdings that led the league of major advancers on the Lagos Bourse.

FBN Holdings increased from N24 to N26.40, adding N2.40 or 10percent. Caverton rose from N2.10 to N2.31, up by 21kobo or 10percent.

Flour Mills moved from N45.05 to N49.55, up by N4.50 or 9.99percent. RT Briscoe increased from N3.02 to N3.32, down by 30kobo or 9.93 percent, while Nestle rallied from N810 to N890, N80 or 9.88percent.

At the close of trading, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and equities market capitalisation increased from 96,715.04 points and N55.575 trillion respectively to 97,025.17 points and N55.753 trillion.

Access Holdings, FBN Holding, UBA, Caverton and Zenith Bank shares were most trading stocks. In 9,615 deals, investors exchanged 390,546,861 shares valued at N7.974billion.

Ahead of Thursday’s trading, analysts said broader market sentiment will remain balanced, with risk-averse investors maintaining a cautious stance ahead of any major corporate earnings announcements.