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Nigerian Stock Exchange Differs Economic Uncertainty, Rises by N2.1 Trillion Last Week



Nigerian Stock Exchange

There seems to be no stop in sight for the high flying Nigerian stock market as local investors continue to dump huge amounts on stocks despite rising economic uncertainty and weak macro fundamentals.

The Nigerian Stock Exchange market capitalisation rose by a shocking 12.97 percent or N2.101 trillion from N16.207 trillion it settled a week ago to N18.308 trillion last week. The highest in a single week in over 5 years.

Last week, the bourse rose above the 5 percent threshold to trigger the circuit breaker put in place to force decorum in an unusual trading situation like the Exchange is witnessing in recent weeks.

The NSE All-Share Index also gained 12.97 percent or 4021.29 index points from 31,016.17 index point it closed in the previous week to 35,037.46 index points on Friday. Also, the highest appreciation in over half a decade.

The Nigerian Stock Exchange continues to gain across the board — except oil and insurance sectors — despite falling demands, high unemployment rate and weak consumer buying power that is presently hurting sales, profitability and new job creation.

Despite these obvious reasons, investors traded 4.509 billion shares worth N58.733 billion in 47,140 transactions, against a total of 2.067 billion shares valued at N22.636 billion that exchanged hands in 25,187 deals in the previous week.

In terms of volume traded, the financial services industry led the activity table with 3.073 billion shares worth N35.408 billion traded in 25,894 deals. Therefore, contributing 68.15 percent and 60.29 percent to the total equity turnover volume and value, respectively.

This was followed by the conglomerates industry with 437.822 million shares valued at N771.280 million in 1,864 deals

The consumer goods industry came third with a turnover of 373.613 million shares worth N7.816 billion in 7,471 deals.

Zenith Bank Plc, FBN Holding and Transcorp Hotels led by volume with a combined 1.426 billion shares valued at N18.083 billion in 9,537 deals. The three contributed 31.63 percent and 30.79 percent to the total equity turnover volume and value traded, respectively.

The Nigerian Stock Exchange total gain rose to 30.53 percent year-to-date while the total gain in the final quarter represents around half of the gain at 14.76 percent.

Top gainers for the week were Oando Plc, Japaul Oil & Maritime Services Plc, others as shown below.

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

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Nigerian Stock Exchange

List of Stock Brokers in Nigeria



Nigerian Exchange Limited - Investors King

Stockbrokers are financial professionals that execute stock orders on behalf of clients in Nigeria and other countries. Stockbrokers are also known as investment advisors due to the fact that they offer investment advice and issue reports/analyses on securities to clients.

Most stockbrokers in Nigeria work for brokerage companies and handle transactions for both individual and institutional clients for commissions.

Here is the complete list of all active and inactive stockbrokers in Nigeria as of October 14, 2021. Investors should endeavour to check this list as often as possible as the Nigerian Exchange Limited can move an active stockbroker to an inactive list.

Check below for the list of stockbrokers in Nigeria and their status.

List of Stock Brokers in Nigeria

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Nigerian Stock Exchange

NGX Announces Resignation Of Onyema As Board Member



CEO of the Nigerian Stock Exchange (NSE), Mr

Nigerian Exchange Limited (NGX) has announced the resignation of Mr. Oscar N. Onyema, OON, as Non-Executive Director, effective immediately.

Mr. Onyema’s resignation comes on the back of the imminent listing of Nigerian Exchange Group Plc (NGX Group or The Group), where he serves as the Group Managing Director/Chief Executive Officer (GMD/CEO), on the main board of NGX.

Consequent upon this resignation by Mr. Onyema, NGX will uphold Rule 184(2)(a) of the Securities and Exchange Commission Consolidated Rules 2013 which states that “A securities exchange shall have a code of conduct for its council members or board which shall be approved by the Commission, and shall contain amongst others the following provisions, to wit, that the council members or board shall: (a) not be a staff of a quoted company and its subsidiaries.”

Speaking on the development, the Chairman, NGX, Mr. Abubakar Mahmoud, SAN, OON stated, “On behalf of the Board and Management of The Exchange, I extend our heartfelt gratitude to Mr. Onyema for his selfless service to The Exchange. As he transitions into this new phase as the GMD/CEO of a listed company, we reiterate our commitment to act in the best interest of all Issuers to the benefit of all stakeholders in the capital market.”

The Chief Executive Officer, NGX, Mr. Temi Popoola, CFA noted that “NGX owes its solid foundation to the effort of leaders like Mr. Onyema who worked tirelessly to build a capital market infrastructure we can be proud of. During his time as a Non-Executive Director on the Board of NGX, he brought to bear his wealth of experience and the unique institutional knowledge he possesses and we are grateful for that”.

To commemorate the listing of NGX Group on NGX, Mr. Popoola will host the Group Chairman, NGX Group, Otunba Abimbola Ogunbajo and the GMD/CEO, Oscar N. Onyema, OON and other key stakeholders to a virtual Closing Gong Ceremony on Friday, 15 October 2021.

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Nigerian Stock Exchange

Sustained Interest in FBNH Boosts Nigerian Stock Market on Thursday



stock - Investors King

Strong interest in the FBN Holdings Plc shares boosted the Nigerian Exchange Limited (NGX) on Thursday as FBN Holdings accounted for over 66 percent of the total volume traded on the bourse.

Investors exchanged total shares of 908,059,073 valued at N10.970 billion in 5,151 transactions during the trading hours of Thursday, the FBN Holdings accounted for 66.37 percent or 602,768,564 of the total shares traded.

Market capitalisation of all listed stocks rose to N21.432 trillion while the NGX All-Share Index appreciated by 0.19 percent to 41,129.98 index points.

Champion led gainers with 9.71 percent or N0.27 to close at N3.05 a unit. Afriprud followed with 7.81 percent or N0.50 to settle at N6.90 per share. FBN Holdings came third with a 7.31 percent or N0.80 gain to N11.75 per unit after hitting a new 52-week high at N12 per share.

However, FBN Holdings led the most traded stocks with 602,768,564.00 shares valued at N7,111,934,085.65. An unusual daily trading volume that has led to retail traders insinuating insider dealings. See the table below for more details.

Top Gainers 
Symbols Last Close Current Change %Change
CHAMPION N 2.78 N 3.05 0.27 9.71 %
AFRIPRUD N 6.40 N 6.90 0.50 7.81 %
FBNH N 10.95 N 11.75 0.80 7.31 %
UNIVINSURE N 0.21 N 0.22 0.01 4.76 %
CHAMS N 0.23 N 0.24 0.01 4.35 %

Top Losers

Symbols Last Close Current Change %Change
LEARNAFRCA N 1.40 N 1.26 -0.14 -10.00 %
ETI N 7.35 N 6.75 -0.60 -8.16 %
WAPIC N 0.50 N 0.47 -0.03 -6.00 %
LINKASSURE N 0.60 N 0.57 -0.03 -5.00 %
NEM N 2.02 N 1.93 -0.09 -4.46 %

Top Trades

Symbols Volume Value
FBNH 602768564.00 7111934085.65
GTCO 63749288.00 1811033414.35
CHAMPION 37684373.00 114841679.31
UNIVINSURE 21909509.00 4567506.24
UBA 21174295.00 176701388.65

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