The Nigerian Exchange Limited (NGX) All-Share Index fell slightly on Monday after appreciating by 7.59 percent year to date.

Investors exchanged 278,605,710 shares valued at N2.887 billion in 4,447 transactions during the trading hours of Monday, while the market value of listed equities dipped by N12 billion to N24.749 trillion. NGX All-Share Index depreciated by 0.06 percent or 29.08 index points to 45,928.27 index points.

The sectoral breakdown showed the NGX banking index lost 45 basis points (bps) on declines in Unity Bank (-2.00%), UBA (-1.22%) and Zenith Bank (-0.78%). Sterling Bank (+1.90%) and Fidelity Bank (+1.13%) gained points.

Also, the NGX consumer goods index shed 23 bps on FTNCOCOA (-7.69%), NB (-1.46%), Unilever (-1.14%) and Champion (-0.42%). Honey Flour (+1.56%), Guinness (+0.71%) and Flour Mill (+0.18%) gained points. NGX industrial index dipped by 1bps on Cutix (-4.00%).

The NGX Oil and Gas Index, however, gained 167bps on SEPLAT (+3.30%).  The year-to-date return moderated to 7.52 percent as only 15 stocks recorded gain against 26 that closed in the red. See top gainers and losers below.

Top Gainers

Top Losers

Top Trades

The Nigerian Exchange Limited (NGX) extended its gain for the third straight week in 2022 as sentiment rose across the Exchange. Investors gained N810 billion last week following N323 billion profit recorded in the previous week.

Investors transacted 1.858 billion shares worth N47.486 billion in 20,861 deals during the week, in contrast to a total of 1.600 billion shares valued at N32.716 billion that exchanged hands in 22,607 deals in the previous week.

The Financial Service Industry led the activity chart with 815.363 million shares valued at N7.066 billion traded in 10,736 deals. Therefore, contributing 43.89 percent and 14.88 percent to the total equity turnover volume and value, respectively. The ICT Industry followed with 596.575 million shares worth N845.020 million in 1,028 deals.

In third place was the Conglomerates Industry, with a turnover of 161.347 million shares worth N191.189 million in 983 deals.

Computer Warehouse Group Plc, Transnational Corporation of Nigeria Plc and FBN Holdings Plc were the three most traded equities. Together accounted for 810.748 million shares worth N2.080 billion that were exchanged in 1,499 deals and contributed 43.65 percent and 4.38 percent to the total equity turnover volume and value, respectively.

The market value of listed equities grew by 3.38 percent or N810 billion from N23.951 trillion in the previous week to N24.761 trillion last week. The NGX All-Share Index expanded by 1,502.68 index points or 3.38 percent to 45,957.35 index points, up from 44,454.67 index points filed in the previous week.

Similarly, all other indices finished higher with the exception of NGX insurance index, which depreciated by 0.27 percent, while the NGX ASem, and NGX Sovereign bond indices closed flat.

Forty-seven equities appreciated in price during the week, higher than Thirty-three equities in the previous week. Twenty-three equities depreciated in price, lower than Thirtyfive equities in the previous week, while Eighty-six equities remained unchanged lower than Eighty-eight equities recorded in the previous week.

The Exchange year-to-date return stood at 7.59 percent, up from N4.01 percent achieved in the previous week. See other details below.

The Debt Management Office(DMO) in Nigeria has disclosed that bonds issuance of N214.05 billion ended with an oversubscription of N139 billion in January 2022.

It explained that the auction, which closed on January 19, has a settlement date of January 22, 2022.

This was stated in the Federal Government Bond result issued on Wednesday. 

Two tranches of bonds worth N75 billion each were presented by the Debt Management Office.

The first was a reopened 10-year bond at 12.50 percent with a maturity date of January 22, 2026 while the other was a newly-issued 20-year bond at 13.00 percent with a maturity date of January 21, 2042.

“The amount allotted culminated in N81.72 billion and N88.92 billion for the first and second bond offers.

“The bids received for the 10-year bond ranged from 10.80 percent to 13.25 percent, while the 20-year bond ranged from 11 percent to 14.50 percent,” the result said.

The auction also has a maturity period of 4 years and 20 years.

The DMO added that the auction closed with 160 successful bids out of the 254 bids it got. 

It further stated that, “successful bids for the 12.50% FGN JAN 2026 & 13.00% FGN JAN 2042 were allotted at the Marginal Rates of 11.50% and 13.00%, respectively.

“However, the original coupon rates of 12.5000% for the 12.5000% FGN JAN 2026 will be maintained, while the coupon rate for the 13.00% FGN JAN 2042 (New Issue), is set at 13.00%.”

The bonds have no default risk as interest and principal will be paid promptly. Also, the interest gotten from the securities are tax exempt.

The federal government bond is seen as a risk-free debt instrument and the safest of all investments in the domestic debt market as it is fully backed up by the government.

Purchasing FG bonds implies that you are lending to the government for a period of time and returns will be obtained after the stipulated time.