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Nigerian Stock Exchange Hits N15 Trillion Market Value, Investors Gain N600bn in Five Hours

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Stock Investors Gain N600 Billion in Five Hours as Nigerian Stock Exchange Hits N15 Trillion Market Cap

The Nigerian Stock Exchange gained N600 billion in the early hours of Tuesday to hit N15.002 trillion market capitalisation as more investors jumped on Nigerian stocks amid the projected increase in economic productivity.

The Nigerian Stock Exchange market capitalisation rose by N600 billion from N14.402 trillion it closed on Monday to N15.002 trillion within five hours of the stock market opening.

Nigerian Stock Exchange Index, All-Share Index, gained 4.16 percent from 27,554.49 basis points it closed on Monday to 28,701.24 basis points on Tuesday.

Similarly, activities on the Exchange rose to a record as investors traded 506.119 million shares valued at N6.971 billion in 5,309 deals within five hours.

Dangote Cement led top gainers with N14.2 or 9.86 percent to close at N158.2 per unit share at 1 am Nigerian time. This was followed by MTN Nigeria’s N5 or 3.70 percent to settle at N140 a unit share. Bringing MTN Nigeria’s total gains since April 2020 to around N1 trillion.

Nigerian Breweries, Stanbic and Zenith Bank followed with N3.5 or 7.17 percent, N2 or 4.94 percent and N1.7 or 8.95 percent to close at N52.3, N42.5 and N20.7, respectively. See the details below.

Top Trader Stocks

Symbols Volume Value
ZENITHBANK 106,478,622 N2,168,771,058.00
UBA 76,707,005 N513,815,872.90
FBNH 65,868,269 N397,804,516.15
GUARANTY 29,640,933 N897,985,596.05
WAPCO 29,294,336 N495,768,555.75

Top Gainers

Symbols Last Close Current Change %Change
DANGCEM N144 N158.2 14.2 9.86%
MTNN N135 N140 5 3.70%
NB N48.8 N52.3 3.5 7.17%
STANBIC N40.5 N42.5 2 4.94%
ZENITHBANK N19 N20.7 1.7 8.95%

Top Losers

Symbols Last Close Current Change %Change
BERGER N6.5 N6.1 -0.4 -6.15%
CUSTODIAN N5.35 N5.2 -0.15 -2.80%
NPFMCRFBK N1.37 N1.25 -0.12 -8.76%
NEIMETH N1.95 N1.85 -0.1 -5.13%
AFRIPRUD N5.2 N5.15 -0.05 -0.96%

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Nigerian Exchange Limited

Nigerian Equities Market Sheds N103 Billion in Three-Day Trading of Last Week

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stock bear - Investors King

In a brief yet impactful trading week marked by Eid-el-Kabir celebrations, Nigeria’s equities market closed in the red as the market shed a total of N103 billion in market capitalization.

Investors navigated through a condensed trading schedule that spanned just three days, with profit-taking activities predominantly affecting key sectors despite selective bargain hunting in others.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) closed the week at 99,743.05 points, reflecting a decline from the previous week’s high of 99,925.29 points.

Similarly, market capitalization dipped to N56.423 trillion, down from N56.526 trillion recorded in the preceding trading period.

Throughout the truncated trading sessions, the market experienced two days of negative closes, contrasting with one day of flat performance.

Analysts attributed the decline primarily to profit-taking activities across critical sectors such as insurance and banking, which overshadowed gains observed in oil & gas, consumer goods, and industrial stocks.

The NGX Oil & Gas Index saw a marginal decrease of 0.21 percent, while the NGX Banking Index dipped by 0.04 percent.

The NGX Insurance Index recorded the steepest decline, falling by 1.41 percent during the week.

On the other hand, the NGX Consumer Goods Index rose by 0.29 percent, and the NGX Industrial Index saw a modest increase of 0.10 percent.

Despite the downturn in market performance for the week, the year-to-date (YtD) return moderated to 33.39 percent, indicating a resilient overall performance in 2024.

Month-to-date (MtD), the market managed a slight uptick of 0.43 percent, underscoring the mixed sentiment and cautious trading observed among investors.

Market analysts and stakeholders emphasized the impact of profit-taking in driving the market’s decline and suggested that the upcoming weeks could see renewed activity depending on economic indicators and investor sentiment.

As Nigeria’s equities market continues to navigate various economic dynamics, stakeholders remain optimistic about potential recovery and growth opportunities amid evolving market conditions.

The holiday-shortened trading week underscored the volatility and resilience of Nigeria’s equities market, highlighting both challenges and opportunities for investors in the coming sessions.

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Nigerian Exchange Limited

FBN Holdings, Fidelity Bank Lead Trades as Nigerian Stock Market Closes Flat

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For the first time in weeks, Nigeria‚Äôs equities market closed flat on Thursday as investors adopted a cautious approach, taking a “wait-and-see” stance.

Despite active trading in major stocks such as FBN Holdings, Fidelity Bank, Transcorp, Access Holdings, and AIICO, the market showed no significant movement.

On Thursday, investors exchanged 1,299,961,984 shares worth N25.326 billion in 8,364 deals on the Exchange.

However, the trading activity did not translate into a market shift.

The NGX All-Share Index (ASI) and Market Capitalisation, which stood at 99,842.19 points and N56.478 trillion on the preceding trading day, closed Thursday at 99,842.94 points and N56.479 trillion, respectively.

This static closure occurred despite notable performances from stocks like Champion Breweries and Chams, which rallied.

Conversely, Transcorp Hotels Plc, NEM Insurance, and Fidelity Bank topped the list of laggards.

“We anticipate a mixed trading session with potential buy-side pressure in key names that could steer the market to a green close,” stated analysts from Lagos-based Vetiva Research in their post-trading note. “Investors are expected to monitor movements in high-performing stocks as well.”

Related developments highlighted the challenges facing investors. Rising diesel prices have surged by 66%, hitting the Northeast hardest.

The Naira remains weak at the official market despite rising external reserves, and prime office tenants face dilemmas with dollar-rents surging 200% in Naira value.

The flat close on Thursday underscores the cautious sentiment prevailing among investors in Nigeria’s equities market.

The market’s performance continues to reflect broader economic uncertainties and investor strategies focusing on stability and risk management.

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Nigerian Exchange Limited

Foreign Equity Trading in Nigeria Jumps 437%, Reaches N334 Billion in Early 2024

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Nigerian Exchange Limited - Investors King

Nigeria’s stock market has seen a remarkable surge in foreign investor activity, with equity trading by foreign investors skyrocketing 437% in the first four months of 2024.

This growth has pushed the total value of foreign equity trades to N334.01 billion, a significant increase from N62.18 billion during the same period in 2023.

Data from the Nigeria Exchange Limited (NGX) reveals that between January and April 2024, Nigerian stock investors exchanged equities valued at N1.894 trillion, a sharp rise from N721.44 billion recorded in the corresponding period of the previous year.

Foreign investors accounted for 17.63% of this total, while domestic investors dominated the market with 82.37%, trading N1.560 trillion worth of equities.

The increased foreign participation peaked in April 2024, with foreign investors trading N120.83 billion worth of stocks, representing 34.90% of the total value traded that month.

This surge highlights a growing confidence in Nigeria’s equity market despite broader economic challenges and a competitive fixed income market.

Analysts attribute this spike in foreign equity trading to various factors, including attractive stock valuations and improved regulatory frameworks.

“We expect continued interest in fundamentally sound stocks,” noted analysts at Comercio Partners, highlighting the positive market return of 33.64% by mid-June 2024.

Despite the attractiveness of fixed-income yields, particularly with Treasury bill rates reaching as high as 23.3% for one-year T-bills, participants remain drawn to equities, seeking growth in undervalued stocks.

Meristem research analysts predict a mixed performance in the equities market, driven by positive momentum and cautious trading.

The influx of foreign capital comes as a positive sign for Nigeria’s economic outlook, reflecting investor confidence in the nation’s regulatory and market reforms.

The NGX has been proactive in boosting market accessibility, recently launching a USSD platform to provide real-time stock market information, a move aimed at enhancing financial inclusion and market participation.

Prominent stockbroking firms have also played a crucial role in this trading boom.

CardinalStone Securities Limited led the market by trading stocks worth N197.535 billion, followed by Stanbic IBTC Stockbrokers Limited and United Capital Securities Limited.

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