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NSE Enhances its Fixed Income Securities Market Segment and Revises its Trading Fee

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Nigerian Stock Exchange

In line with its ambition to support Nigeria’s economic growth by providing a liquid, efficient, and multi-asset securities exchange hub, the Nigerian Stock Exchange (“NSE” or “The Exchange”) is pleased to announce, enhancements to its Fixed Income Securities market segment as well as the associated benefits to trade execution via its platform.

As part of its liquidity-enhancing efforts, the Exchange introduced a trading fee moratorium as communicated via a press release dated 11 August 2016 to stimulate activities and liquidity in the fixed income market. Following the end of the 4-year Fixed Income Securities Trading Fee moratorium, the Exchange has now received the regulatory approval of the Securities and Exchange Commission to revise its fee structure. The revised fees will become effective on 5 October 2020. Under this revised fee structure, The Exchange will charge 0.0005% (N5 per million) on debt instruments traded on its platform.

The table below is the revised fee schedule for trading debt instruments on the NSE Fixed Income market.
Fees​ Fee from 5 October 2020
Trading Fees 0.0005% (buy and sell)

The NSE offers a hybrid market for the execution of quote and order-driven transactions providing dealers as well as institutional and retail investors access to increased liquidity in Fixed Income Securities. By leveraging best-in-class market design and infrastructure, the NSE trading venue provides investors an integrated straight-through trading and post-trade process that supports efficient execution without any trade failures across all asset classes including Fixed Income Securities. Investors trading via the NSE platform can also enjoy access to diverse listed debt instruments including Federal Government, State Government, Corporates, Supranational, and Retail Savings Bonds.

The Exchange continues to conduct various training, workshops, and conferences on Fixed Income Securities products to build domestic capacity and enhance financial literacy while encouraging inclusiveness. We remain committed to our corporate goal of providing investors and businesses a reliable, efficient, and an adaptable exchange hub in Africa, to save and to access capital.

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.

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Nigerian Exchange Limited

Market Value of Nigerian Stock Market Drops Below N22 Trillion

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Nigerian Exchange Limited - Investors King

Nigerian stock market dipped further on Monday to push the Exchange total market capitalisation below the N22 trillion mark.

Investors traded 422,180,395 shares valued at N4.470 billion in 5,059 transactions during the trading hours of Monday. While market value of all listed stocks dipped to N21.920 trillion, a decline of N83 billion from N22.003 trillion recorded on Friday.

The Nigerian Exchange All-Share Index depreciated by 0.38 percent to 42,008.6 index points on Monday from 42,167.91 index points it closed on Friday.

Sectorial analysis showed the NGX Banking Index lost 137bps on FIDELITY (-5.60%), UBA (-5.06%), UNITYBANK (-3.92%), ACCESS (-2.25%), STERLINGBANK (-0.68%) and GTCO (-0.62%).

The NGX Consumer Goods Index lost 34bps on UNILEVER (-4.00%), DANGSUGA (-3.13%) and HONYFLOUR (-1.14%). CHAMPION (+7.92%), INTBREW (+2.04%) and PZ (+0.84%) gained points.

The NGX Oil and Gas Index shed 11bps on ETERNA (-4.13%) and The NGX Industrial index shed 58bps on WAPCO (-9.94%).

A total of 10 stocks closed in the green, against 24 that closed in the red. The Exchange year-to-date return dropped to 4.32 percent. See other details below.

Top Five Gainers

Symbols Last Close Current Change %Change
ROYALEX N 0.53 N 0.58 0.05 9.43 %
MEYER N 0.22 N 0.24 0.02 9.09 %
CHIPLC N 0.44 N 0.48 0.04 9.09 %
UPDC N 0.99 N 1.08 0.09 9.09 %
CHAMPION N 2.40 N 2.59 0.19 7.92 %

Top Five Losers

Symbols Last Close Current Change %Change
WAPCO N 24.65 N 22.20 -2.45 -9.94 %
LINKASSURE N 0.56 N 0.51 -0.05 -8.93 %
ABCTRANS N 0.34 N 0.31 -0.03 -8.82 %
VITAFOAM N 21.90 N 20.00 -1.90 -8.68 %
FIDELITYBK N 2.50 N 2.36 -0.14 -5.60 %

Top Five Trades

Symbols Volume Value
FBNH 128865001.00 1505545599.55
STERLNBANK 77771509.00 115783870.97
GTCO 47789236.00 1146024189.75
UCAP 20960206.00 202723399.90
UBA 18593600.00 140000590.00

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Nigerian Exchange Limited

Nigerian Stock Investors Lose N595 Billion Last Week

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stock bear - Investors King

The Nigerian Exchange Limited (NGX) sustained its downward trend last week as investors continue to sell their holdings and hold off for the remaining days of the year to reassess global uncertainty amid Omicron concerns.

Investors traded a total of 1.278 billion shares worth N17.340 billion in 21,052 deals last week, in contrast to a total of 3.435 billion shares valued at N30.915 billion that exchanged hands in 21,109 transactions in the previous week.

During the week, the Financial Services Industry led the activity chart with 984.543 million shares valued at N10.247 billion traded in 11,029 deals. Therefore, contributing 77.01 percent and 59.09 percent to the total equity turnover volume and value respectively.

Consumer Goods Industry followed with 78.724 million shares worth N2.328 billion in 3,137 deals. In third place was The Conglomerates Industry, with a turnover of 48.730 million shares worth N69.840 million in 647 deals.

FBN Holdings Plc, Guaranty Trust Holding Company Plc and Access Bank Plc were the three most traded equities, accounting for 470.731 million shares worth N6.571 billion in 3,887 deals. The three contributed a combined 36.82 percent and 37.90 percent to the total equity turnover volume and value, respectively.

The market value of all listed equities declined by 2.63 percent or N595 billion from N22.598 trillion recorded in the previous week to N22.003 trillion last week. While the NGX All-Share Index depreciated by 2.63 percent 0r 1,140.38 index points to 42,167.91 index points, down from 43,308.29 index points.

Similarly, all other indices finished lower with the exception of NGX Insurance index which appreciated by 2.97 percent, while the NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat.

Eighteen equities appreciated in price during the week, lower than Twenty-nine equities in the previous week. Forty-nine equities depreciated in price, higher than Thirty-six equities in the previous week, while eighty-nine equities remained unchanged lower than ninety-one equities recorded in the previous week. See the top gainers and losers below.

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Dividends

Dangote Cement, MTN lead Top Paying Dividend Companies of the Year

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Dangote Cement - Investors King

In total, Nigerian companies paid about N989 billion as dividends in the first 9 months of the year. Dangote Cement was responsible for N272 billion of that amount, with MTN paying N212.7 billion.

The N989 billion paid in dividends showed a 27% increase from the same period in 2020. A record of dividends paid by Nigerian companies who have been publicly quoted is maintained by Nairalytics, with the companies including 30 of some of the most capitalized companies on the stock exchange who had paid dividends in 2020 and the current year.

Some companies pay dividends from their full-year profits while others pay twice in the year, first out of their full-year profits and secondly from their half-year profits. Some dividends are also paid out of retained earnings, in the event where companies do not publicly declare their profits.

The data collected for the companies showed that Dangote Cement and MTN were the leading dividend payers in the year, with the companies paying N272 billion and N212.7 billion respectively. Dangote Cement shareholders did not record any significant increase in their dividend payments, while MTN shareholders saw a 23% increase in dividend payments. No other companies paid up to N100 billion in dividends during the year.

Zenith Bank paid N94.2 billion in dividends, coming in as the third highest paying company during the year. GTCO and BUA Cement rounded up the top five, paying N79.5 billion and N70 billion in dividends respectively.

Stanbic IBTC paid N54 billion in dividends to come in as sixth, while Access Bank and Nestle paid N30.2 billion and N27.5 billion respectively, making seventh and eighth. Lafarge and Seplat rounded up the top 10 dividend payers, paying N24.7 billion and N23.1 billion respectively.

In total, the top ten companies paid a combined N888.1 billion in dividends.

A growth in dividend payment, especially in a year heavily hit by the coronavirus pandemic shows resilience in the financials of some of Nigeria’s largest companies.

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