Connect with us

Stock Market

Nigerian Stock Exchange Hits N14trn Market Cap on Rising Optimism

Published

on

Stock - Investors King

Nigerian Stock Exchange Rises to N14trn on Rising Optimism

The Nigerian Stock Exchange rose to N14.039 on Wednesday to sustain its bullish trend since the Central Bank of Nigeria lowered the interest rate by 100 basis points to 11.5 percent.

On Wednesday before Thursday’s independence day holiday, the market capitalisation of listed stocks rose by N116.7 billion to close at N14.039 trillion while the NSE All-Share Index expanded to 26,831.76 percent.

On Friday morning, the NSE All-Share Index gained 0.34 percent to 26,923.15 basis points as investors remained optimistic with the recent adjustment in the nation’s economic policy.

While macro fundamentals remained generally weak, stock traders are looking to take advantage of low stock valuations and the expected surge in economic productivity due to the lower interest rate to up their stock portfolio in the near-term.

Analysts at Cordros Research said “We expect the market might continue to benefit as domestic investors seek alpha-yielding opportunities in the face of increasingly negative real returns in the fixed income market. However, we advise investors to trade in only fundamentally justified stocks as the weak macro environment remains a significant headwind for listed companies.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Continue Reading
Comments

Nigerian Stock Exchange

Nigerian Stock Market Sheds N12 Billion Amid Profit Taking

Published

on

Stock - Investors King

Broad-based profit-taking dragged on the Nigerian Exchange Limited (NGX) on Wednesday even though businesses have started releasing their third-quarter earnings reports.

Trading activities dropped during the trading hours of Wednesday as investors transacted 284,601,047 shares worth N3.203 billion in 5,036 deals, against 353,233,206 shares estimated at N5.569 billion traded in 5,322 transactions on Tuesday.

NGX All-Share Index contracted by 0.06 percent to 41,789.59 index points, down from 41,814.94 index points it closed on Tuesday. Market value of listed equities dipped by N12 billion from N21.821 trillion on Tuesday to N21.809 trillion on Wednesday.

Living Trust led gainers with N0.07 or 9.59 percent to settle at N0.80 a share. Followed by the N0.09 or 9.57 percent increase recorded by AIICO after publishing its third-quarter report on Wednesday. University Press remained among top five gainers for the second consecutive week, posting N0.15 or 0.09 percent gain on Wednesday.

The battle for the control of FBN Holdings continues as it led the most trade equities again with a total traded shares of 75,458,656 shares valued at N898,012,945.70. See other details below.

Top Five Gainers

Symbols Last Close Current Change %Change
LIVINGTRUST N 0.73 N 0.80 0.07 9.59 %
AIICO N 0.94 N 1.03 0.09 9.57 %
UPL N 1.65 N 1.80 0.15 9.09 %
REDSTAREX N 3.20 N 3.40 0.20 6.25 %
TOTAL N 207.60 N 220.00 12.40 5.97 %

Top Five Losers

Symbols Last Close Current Change %Change
GLAXOSMITH N 7.00 N 6.30 -0.70 -10.00 %
TRANSCOHOT N 5.97 N 5.38 -0.59 -9.88 %
FBNH N 12.40 N 11.65 -0.75 -6.05 %
VERITASKAP N 0.23 N 0.22 -0.01 -4.35 %
AFRIPRUD N 6.35 N 6.10 -0.25 -3.94 %

Top Fiver Trades

Symbols Volume Value
FBNH 75458656.00 898012945.70
AIICO 18418170.00 17809728.91
ETI 17320235.00 137321766.75
TRANSCORP 15207489.00 15492407.42
FIDELITYBK 14029439.00 38524667.95

Continue Reading

Nigerian Stock Exchange

Stock Market Closes Flat on Tuesday as Activities Drop

Published

on

Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited (NGX) closed flat on Tuesday after posting a N27 billion gain on Monday.

Investors exchanged 353,233,206 shares estimated at N5.569 billion in 5,322 transactions during the trading hours of Tuesday, against 674,498,620 shares worth N7.591 billion that were traded in 5,432 deals on Monday.

The NGX All-Share Index closed flat at 41,814.94 index points on Tuesday. Similarly, the market value of all listed equities remained unchanged at N21.821 trillion.

FBN Holdings continue to lead the most traded stocks with 73062391 shares worth N906,754,975.05 on Tuesday. This was followed by GTCO Plc’s 25039191 shares valued at N715,262,785.80 following a healthy financial statement released for the third quarter ended September 30, 2021, on Tuesday. GTCO’s profit after tax rose by 4.11 percent to N49.986 billion.

Universal Insurance led gainers with N0.02 or 10 percent gain to close at N0.22 a share. University Plc emerged second with N0.15 or 10 percent increase to settle at N1.65 a unit. See other details below.

Top Five Trades

Symbols Last Close Current Change %Change
UNIVINSURE N 0.20 N 0.22 0.02 10.00 %
UPL N 1.50 N 1.65 0.15 10.00 %
COURTVILLE N 0.41 N 0.45 0.04 9.76 %
ABBEYBDS N 0.86 N 0.94 0.08 9.30 %
INTBREW N 4.85 N 5.30 0.45 9.28 %

Top Fiver Losers

Symbols Last Close Current Change %Change
ABCTRANS N 0.34 N 0.31 -0.03 -8.82 %
FTNCOCOA N 0.48 N 0.45 -0.03 -6.25 %
CUTIX N 6.40 N 6.05 -0.35 -5.47 %
NGXGROUP N 20.60 N 19.65 -0.95 -4.61 %
SOVRENINS N 0.24 N 0.23 -0.01 -4.17 %

Top Five Trades

Symbols Volume Value
FBNH 73062391.00 906754975.05
GTCO 25039191.00 715262785.80
UNIVINSURE 22770945.00 4919056.91
UBA 20331377.00 171208252.90
TRANSCORP 18437370.00 18864207.86

Continue Reading

Nigerian Stock Exchange

Nigerian Stock Market Gains N27 Billion on Monday

Published

on

Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited (NGX) opened the week in green as more stocks extended their gains on Monday.

Market value of all listed stocks rose by N27 billion from N21.794 trillion it closed on Friday to N21.821 trillion on Monday. While the NSE All-Share Index appreciated by 0.12 percent to 41,814.74 index points, up from 41,763.26 index points it closed on Friday.

Investors traded 674,498,620 shares worth N7.591 billion in 5,432 transactions during the trading hours of Monday.

PZ led gainers with N0.55 or 9.32 percent to close at N6.45 per share. This was followed by Mutual Benefits Assurance Plc with N0.02 or 7.14 percent to settle at N0.30 a unit. See other details below.

Top Five Gainers

Symbols Last Close Current Change %Change
PZ N 5.90 N 6.45 0.55 9.32 %
MBENEFIT N 0.28 N 0.30 0.02 7.14 %
UNILEVER N 14.50 N 15.50 1.00 6.90 %
MANSARD N 2.31 N 2.46 0.15 6.49 %
CUTIX N 6.05 N 6.40 0.35 5.79 %

Top Five Losers 

Symbols Last Close Current Change %Change
ABBEYBDS N 0.95 N 0.86 -0.09 -9.47 %
PRESTIGE N 0.47 N 0.43 -0.04 -8.51 %
REGALINS N 0.41 N 0.38 -0.03 -7.32 %
CILEASING N 4.70 N 4.40 -0.30 -6.38 %
NGXGROUP N 22.00 N 20.60 -1.40 -6.36 %

Top Five Trades

Symbols Volume Value
FBNH 350541622.00 4345726068.70
ETI 45642660.00 347799322.85
UNIVINSURE 33914599.00 6782919.80
TRANSCORP 32576994.00 33205137.68
GTCO 21476241.00 614370055.60

Continue Reading




Advertisement
Advertisement
Advertisement

Trending