The Nigerian Stock Exchange (NSE) triggered a circuit breaker on Thursday for the first time since it was introduced in 2016 after the Exchange gained over 5 percent, the threshold set for a single day.
According to a statement put out by the Exchange, this was the first time the Nigerian Stock Exchange (NSE) circuit breaker had kicked in since it was introduced in 2016. Meaning, this was the first time the Nigerian Stock Exchange has gained over 5 percent in a single day since 2016.
The statement reads, “The Circuit Breaker protocol was triggered by the increase of the NSE ASI from 33,268.36 to 34,959.39. The market reopened at exactly 1:25p.m. with a 10-minute intraday auction session, before resuming continuous trading till the close of the day at 2:30p.m.
“During the halt of trading, no order could be placed until trading resumed. However, existing orders could be withdrawn or canceled but could not be modified. Trading halts did not affect the clearing, settlement, and depository operations for matched trades, as these functioned as normal. Furthermore, all existing orders keyed in prior to the trading halt were re-activated and were matched upon resumption of trading.”
The Nigerian Stock Exchange has gained over N2 trillion or 15 percent in the last two weeks to emerged the largest gainer among 93 global stocks tracked by Bloomberg. The surprising rise in the Exchange despite weak macro fundamentals and the recent social unrest is scary, especially with demand still weak across the board and likely to remain so through the first half of 2021.
While the renewed interest in the Nigerian assets may not be unconnected to the recent monetary adjustments by the central bank, it does not seem sustainable.
Nigerian Stock Market Sheds N12 Billion Amid Profit Taking
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
|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
|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
Stock Market Closes Flat on Tuesday as Activities Drop
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
|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
|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
Nigerian Stock Market Gains N27 Billion on Monday
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
|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
|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
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