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Nigerian Exchange Limited

AfDB Approves $400,000 Grant for Securities and Exchange Commission of Nigeria to Support Capital Markets Development

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capital market - Investors King

The African Development Bank Group today signed a $400,000 grant agreement with the Securities and Exchange Commission of Nigeria to strengthen securities market regulation and broaden market instruments.

The funds will go towards strengthening the risk-based supervision framework, regulation of derivatives and green bonds, and build capacity for green finance. The grant will be sourced from the Capital Markets Development Trust Fund, a multi-donor fund administered by the Bank.

“This collaboration further underscores our mutual goal to grow our markets and create viable avenues for sustainable economic development for Nigeria and the region,” said Lamido Yuguda, Director General of the Securities and Exchange Commission at the virtual signing ceremony.

The grant is aligned with the priorities of the Bank’s Country Strategy for Nigeria, which envisages measures to stimulate capital market development to unlock financial resources for productive sector investments, infrastructure development and private sector growth.

Lamin Barrow, Senior Director of the Bank’s Nigeria Country Department, noted the urgency of the implementation of the project.

“At a time when countries are striving to build back better from the ravages of the COVID-19 pandemic, improvement of the enabling regulatory and supervision framework will boost domestic resource mobilisation efforts and leverage private sector contributions to achieve a greener, more environmentally sustainable and inclusive post-pandemic recovery,” Barrow said.

Oscar Onyema, Chief Executive Officer of the Nigerian Stock Exchange, thanked the African Development Bank Group and the Securities and Exchange Commission “for this historic event and partnership, to build in-house capacity at SEC, the Nigerian Stock Exchange, issuers and investors in the sustainable finance space, which will help to meet climate finance commitments in Nigeria.”

The project will support the implementation of the SEC’s Nigeria Capital Market Master Plan 2015-2025 and its vision to position Nigeria’s capital market as a competitive and attractive destination for portfolio investments.

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

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Nigerian Exchange Limited

Dangote Sugar, Stanbic, Others Closed in Red as an Anonymous Investor Dumps N29 Billion on Dangote Cement

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Stock Bull - Investors King

Stocks of Dangote Sugar, Stanbic Bank, Ardova, FCMB and others led the Nigerian Exchange Limited (NGX) decline on Thursday despite the bourse extending its this year gains to 7.45 percent.

The market value of all listed stocks gained N248 billion from N24.477 trillion it closed on Wednesday to N24.725 trillion on Thursday. The NGX All-Share Index appreciated by 1.01 percent on Wednesday after posting a 1.73 percent gain on Tuesday to close at 45,890.52 index points.

Activity at the exchange rose to a record-high as investors traded  873,492,331 shares valued at N31.542 billion in 4,342 transactions, more than 300 percent of 252,938,074 shares worth N8.9255 billion that exchanged hands in 4,218 deals on Wednesday.

The increase was a result of jumped in Dangote Cement activity level. Investor or group of investors, likely in insider dealings – expected to be announced soon, transacted  102,917,075 shares of Dangote Cement valued at N28.779 billion. The transaction accounted for 91.24 percent of the total N31.542 billion traded on Thursday.

Breaking down the performance of each sector, the banking industry index appreciated by 36 basis points (bps) on the back of an increase in value of Jaiz Bank (+6.35%), Unity Bank (+6.25%), Sterling Bank (+0.64%), UBA (+0.61%), Access Bank (+0.51%) and Zenith Bank (+0.19%).

Similarly, the industrial index appreciated by 272 basis points (bps) on 5.52 percent gain in Dangote Cement, the most capitalised Nigeria’s listed company. WAPCO lost 0.39 percent points.

The consumer goods sector was weighed upon by a 2.74 percent decline in Dangote Sugar, 1.49 percent decline in the value of Honey Flour and 1.25 percent drop in Champion. However, NNFM, Cadbury and Interbrew posted gains.

Despite the jump in the value of global oil prices to over $90 a barrel this week, the Nigerian oil sector shed 9 bps on a 2.60 percent decline recorded by Ardova. See the details of top gainers and losers below.

Top Gainers

Symbols Last Close Current Change %Change
NNFM N 6.55 N 7.20 0.65 9.92 %
LEARNAFRCA N 1.18 N 1.29 0.11 9.32 %
CADBURY N 8.80 N 9.50 0.70 7.95 %
LINKASSURE N 0.53 N 0.57 0.04 7.55 %
JAIZBANK N 0.63 N 0.67 0.04 6.35 %

Top Losers

Symbols Last Close Current Change %Change
DANGSUGAR N 18.25 N 17.75 -0.50 -2.74 %
STANBIC N 37.00 N 36.00 -1.00 -2.70 %
ARDOVA N 13.45 N 13.10 -0.35 -2.60 %
FCMB N 3.00 N 2.95 -0.05 -1.67 %
HONYFLOUR N 3.35 N 3.30 -0.05 -1.49 %

Top Trades

Symbols Volume Value
CWG 517576289.00 300194247.62
DANGCEM 102917075.00 28779893991.30
FBNH 54041026.00 647958220.70
TRANSCORP 34103184.00 34704157.60
SOVRENINS 20985290.00 4886794.70

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Nigerian Exchange Limited

Stock Investors Gained N526 Billion in Three Days

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stock - Investors King

Investors in the Nigerian Exchange Limited (NGX) have realised a combined N526 billion gain in the last three trading sessions to offset Monday’s decline. The Exchanged, which closed at N23.951 trillion market value on Friday, increased to N24.477 trillion on Wednesday.

On Monday, NGX dipped by N29 billion to N23.922 trillion but quickly rebounded on Tuesday and sustain its expansion on Wednesday on the back of renewed interest in the bourse.

Activity level rose on Wednesday as investors traded 252,938,074 shares worth N8.9255 billion in 4,218 transactions, against 235,233,902 shares worth N1.918 billion that exchanged hands in 4,151 deals on Tuesday.

Breakdown of performance showed the NGX Banking Index appreciated 50bps on the back of improvement in Union Bank of Nigeria (+4.46%), Access Bank (+0.52%) and Zenith Bank (+0.39%). Jaiz Bank (-4.55%), Unity Bank (-2.04%), Wema Bank  (-1.15%) and ETI (-0.56%) lost points.

The NGX Consumer Goods Index shed 2bps on Champion (-1.23%) and Honey Flour (-0.59%).  While the NGX Oil and Gas Index gained 221bps on Seplat (+4.36%) and the NGX Industrial index closed flat.

NGX All-share Index appreciated by 1.73 percent to 45,430.14 index points, up from 44,655.89 index points it closed on Tuesday. While market value rose by N418 billion from N24.059 trillion it settled on Tuesday to N24.477 trillion on Wednesday.

A total of 16 large stocks posted gains, against 17 stocks that closed in the red. The year-to-date return rose to 6.35 percent. See the details of top gainers and losers below.

Top Gainers

Symbols Last Close Current Change %Change
AIRTELAFRI N 1050.50 N 1155.50 105.00 10.00 %
CORNERST N 0.50 N 0.53 0.03 6.00 %
COURTVILLE N 0.38 N 0.40 0.02 5.26 %
UBN N 5.60 N 5.85 0.25 4.46 %
SEPLAT N 690.00 N 720.10 30.10 4.36 %

Top Losers 

Symbols Last Close Current Change %Change
FTNCOCOA N 0.39 N 0.36 -0.03 -7.69 %
CHIPLC N 0.69 N 0.64 -0.05 -7.25 %
REGALINS N 0.45 N 0.42 -0.03 -6.67 %
JAPAULGOLD N 0.42 N 0.40 -0.02 -4.76 %
JAIZBANK N 0.66 N 0.63 -0.03 -4.55 %

Top Trades

Symbols Volume Value
GTCO 25456346.00 649356251.40
DANGCEM 24453030.00 6481353849.00
FBNH 23094320.00 277150098.30
FIDELITYBK 21137645.00 57157543.48
FCMB 12932757.00 38790482.47

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Nigerian Exchange Limited

Nigeria’s Stocks Market Resumes Bullish Run

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Nigerian Exchange Limited - Investors King

Nigeria’s equities market rebounded from Monday’s decline to extend its bullish run for the year by N137 billion on Tuesday.

Investors traded 235,233,902 shares worth N1.918 billion in 4,151 deals during the trading hours of Tuesday, against  214,315,212 shares valued at N2.689 billion that exchanged hands in 4,410 transactions on Monday.

The Nigerian Exchange Limited (NGX) All-Share Index gained 0.58 percent to 44,655.89 index points, up from 44,399.66 index points it settled on Monday. Market value appreciated by N137 billion from N23.922 trillion to N24.059 trillion on Tuesday.

A sectoral breakdown showed that the NGX Banking Index appreciated by 98bps on the back of ETI (+3.45%), Access Bank (+2.11%), Unity Bank(+2.08%), Fidelity Bank (+1.89%), Sterling Bank (+1.29%), and Zenith Bank (+0.78%). Wema Bank and Union Bank closed in the red with -2.25 percent and UBN -0.88 percent, respectively.

The NGX Consumer Goods Index rose by 69bps on 7.35 percent and 0.18 percent gain in Dangote Sugar and Flour Mill, respectively. While the Oil and Gas Index also inched higher by 25 basis points on Eterna and Conoil’s 5.83 percent and 3.05 percent gains.

Berger and BUA Cement bolstered the Industrial Index, the index appreciated by 95bps on 5.84 percent and 2 percent increase from Berger and BUA Cement. WAPCO, however, dragged on the index as it sheds 0.39 percent lost points.

The Exchange year-to-date return rose to 4.54 percent. See top gainers and losers below.

Top Gainers

Symbols Last Close Current Change %Change
SKYAVN N 5.30 N 5.83 0.53 10.00 %
COURTVILLE N 0.35 N 0.38 0.03 8.57 %
FTNCOCOA N 0.36 N 0.39 0.03 8.33 %
DANGSUGAR N 17.00 N 18.25 1.25 7.35 %
BERGER N 7.70 N 8.15 0.45 5.84 %

Top Losers

Symbols Last Close Current Change %Change
NEM N 3.96 N 3.63 -0.33 -8.33 %
SUNUASSUR N 0.34 N 0.32 -0.02 -5.88 %
REGALINS N 0.47 N 0.45 -0.02 -4.26 %
SOVRENINS N 0.25 N 0.24 -0.01 -4.00 %
WAPIC N 0.51 N 0.49 -0.02 -3.92 %

Top Trades

Symbols Volume Value
TRANSCORP 38105416.00 40126119.89
GTCO 18730093.00 476489576.45
JAIZBANK 14987140.00 9819198.86
ETI 14493966.00 126344358.00
FBNH 13419157.00 161060772.90

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