Nigerian Exchange Limited

Dangote Cement Leads Stock Gainers Following Share Buyback Announcement

Published

2 years ago

December 23, 2020

Dangote Cement, Eternal Plc, Led Gainers on Tuesday

Dangote Cement led gainers with a N14.6 increase to settle at N245 per share following plans to buy back 1.704 billion shares.

The company’s market value rose by 6.34 percent on Tuesday to N4.175 trillion immediately the details of the first tranche of the buyback plans became public.

Investors traded 442.221 million shares valued at N10.288 billion in 4,948 deals during the trading hours of Tuesday.

Also, read Dangote Cement to Buy Back 1.704 Billion Shares

Market value of listed equities closed at N19.805 trillion on Tuesday, while the NSE All-Share Index gained 1.20 percent to 37,893.6 index points.

The year to date return extended further to 40.7 percent on Tuesday, the highest globally going by Bloomberg tracked 93 indexes.

Nigerian investors jumped on Dangote Cement after the leading cement manufacturer announced it would be buying back a total of 1.704 billion shares in tranches starting from December 30, 2020.

Also, the announcement that a new investor is coming onboard of Eterna Plc following an agreement reached between current substantial shareholders and the intending new investor boosted the price of Eterna Plc by 10 percent or 41 kobo to N4.51 per share as investors interpreted the news as new capital inflow given the rebound in crude oil and reopening of the nation’s land borders. See the details of Tuesday’s transactions below.

Top Trades

Symbols	Volume	Value
ZENITHBANK	59,024,334	N1,445,449,067.15
MANSARD	39,268,569	N40,120,959.34
GUARANTY	38,218,079	N1,261,227,603.65
JAPAULGOLD	33,050,313	N13,009,882.79
FBNH	29,929,599	N209,453,565.45

Top Gainers

Symbols	Last Close	Current	Change	%Change
DANGCEM	N230.4	N245	14.6	6.34%
ETERNA	N4.1	N4.51	0.41	10.00%
CADBURY	N8.65	N9	0.35	4.05%
ZENITHBANK	N24.3	N24.5	0.2	0.82%
UBA	N8.2	N8.4	0.2	2.44%

Top Losers

Symbols	Last Close	Current	Change	%Change
CAP	N20	N19.05	-0.95	-4.75%
GUARANTY	N33.5	N33	-0.5	-1.49%
WAPCO	N22.5	N22	-0.5	-2.22%
REDSTAREX	N3.43	N3.1	-0.33	-9.62%
VITAFOAM	N7.25	N7	-0.25	-3.45%

Also, read Substantial Shareholders Plan to Divest from Eterna Plc

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Samed Olukoya

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, 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 Stock Market Rebounds on Tuesday as Investors Pocketed N10 Billion

Published

9 hours ago

March 22, 2023

Samed Olukoya

After a period of bearish trends, the Nigerian Exchange Limited (NGX) rebounded on Tuesday to post a N10 billion gain.

The market capitalisation of all the listed equities grew by 0.03% to close the day at N29.909 trillion while the NGX All-Share Index expanded by the same 0.03% to 54,906.65.

Market sentiments were even as both gainers and losers had 12 equities each on their charts at the close of the day’s trading. However, Linkage Assurance, Wapic, and Champion led the gainers’ table, gaining 9.76 per cent, 7.89 per cent, and 4.26 per cent, respectively.

On the other hand, Ikeja Hotel, Cadbury, and UPL topped the losers’ table with 9.65 per cent, 5.83 per cent, and 4.76 per cent loss, respectively, in their share values.

In terms of the most traded stocks, Zenith Bank led with 11,964,640 shares worth N298.835m exchanged in 255 deals, followed by GTCO with 10,472,370 million shares worth N258.239m traded in 252 deals. MTN Nigeria was the third most traded stock with 421,619 of its shares valued at N98.138m.

The rebound of the Nigerian Exchange Limited signifies a positive outlook for investors. As Nigeria’s economy continues to recover from the pandemic’s effects, the stock market is poised to bounce back, providing lucrative investment opportunities for local and foreign investors alike.

It is important to note that investing in the stock market comes with risks and rewards, and it is advisable to seek professional advice before making investment decisions.

Nigerian Exchange Limited

Investors Divests N69.378 Million from Nigerian Exchange Group in March 2023

Published

2 weeks ago

March 9, 2023

Samed Olukoya

Nigerian Exchange Limited - Investors King

The latest disclosures from the Nigerian Exchange Group have shown that a total of N69,378,297.12 was divested from the listed company by investors in March 2023.

Investors sold a combined 2,666,451 shares after the audited financial statement of the group showed profit plunged from N2.248 billion reported in the 2021 financial year to N698.482 million in the financial year ended December 31, 2022.

A breakdown of the disclosures signed by Obehi Ikhaghe, Ag. Company Secretary done by Investors King showed that the MIRI Strategic Emerging Markets Fund LP, Substantial Shareholder, sold 1,480,000 units of shares at N26.09 per share on 03 March 2023.

Pivot Capital Limited, a company related to a Statutory Audit Committee Member, Mr. Samuel Adejumo, relinquished 71,923 units at N26.40 a unit on 07 March 2023.

Somafam Global Concepts, also related to Mr. Samuel Adejumo, a Statutory Audit Committee Member, disposed of 20,000 units of shares at N26.45 per share on 07 March 2023.

Between March 06 and 07, 2023, MIRI Strategic Emerging Markets Fund LP sold another 1,094,528 units of shares at N25.89 a share.

The Nigerian Exchange Limited reported N7.499 billion in revenue and other income in 2022 while profit before minimum tax and income tax expense declined to N823.089 million from N2.401 billion filed in 2021 financial year.

Therefore, after paying N124.607 million in income tax expense for the 2022 financial year, the company announced N692.482 million in profit after tax.

While the decline has been consistent since the company was listed, aggressive selling by Mr. Samuel Adejumo, a Statutory Audit Committee Member of the company with presumable knowledge of the company’s financial position underscores the deteriorating state of the company.

Nigerian Exchange Limited

Stock Investors Gain N107 Billion on Wednesday as Market Capitalisation Hits N30.398tn

Published

2 weeks ago

March 9, 2023

Samed Olukoya

The Nigerian Exchange Limited (NGX) rebounded from its N1 billion loss of Tuesday to post a N107 billion gain on Monday ahead of the governor elections.

Investors transacted 152.743 million shares worth N3.573 billion in 3,293 transactions during the trading hours Wednesday, with the stock of Courtville emerging as the most traded equity with 34.604 million shares worth N16.609 million exchanging hands.

UBA and GTCo followed with 15.001 million and 15.001 million shares valued at N127.311 million and N335.934 million.

The market value of listed equities grew by N107 billion to N30.398 trillion while NGX All-Share Index expanded by 0.36% to 55,801.14 index points.

The financial sector index appreciated by 6 basis points (bps) with the stock of Union Bank of Nigeria leading the chart with 2.27%. The industrial sector index gained 84bps while consumer goods posted a 6 bps gain and the oil and gas sector lost 90 bps.

A total of 18 stocks gained points while 18 stocks lost points.

Top Five Gainers

Symbols	Last Close	Current	Change	%Change
TRANSEXPR	N 0.81	N 0.89	0.08	9.88 %
CUTIX	N 2.00	N 2.17	0.17	8.50 %
FTNCOCOA	N 0.26	N 0.28	0.02	7.69 %
SOVRENINS	N 0.28	N 0.30	0.02	7.14 %
HONYFLOUR	N 2.19	N 2.33	0.14	6.39 %

Top Five Losers

Symbols	Last Close	Current	Change	%Change
MRS	N 31.05	N 27.95	-3.10	-9.98 %
ABCTRANS	N 0.38	N 0.35	-0.03	-7.89 %
CHAMS	N 0.27	N 0.25	-0.02	-7.41 %
ARDOVA	N 18.55	N 17.40	-1.15	-6.20 %
ROYALEX	N 0.75	N 0.71	-0.04	-5.33 %