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Honeywell Flour Stock Set a New 52-Week High at N2.47 a Share

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Honeywell Flour Mill Plc extended its bullish run on Tuesday as the company led stock gainers with N0.22 or 9.78 percent gain to set a new 52-week high of N2.47 a share.

The company’s stock opened the day at N2.25 a share and closed at N2.47.

On August 9, 2021, the price of Honeywell Flour Mill was N1.6 a share when 9,020,791.00 shares were traded. The price jumped to N1.87 a unit on August 12 when an unusual transaction volume of 384,071,393.00 shares was recorded in a move that suggested yet to be disclosed insider dealing or dealings.

To put this in perspective, Honeywell Flour Mill investors traded a combined 29,840,068 shares of the company in four days (Monday, Tuesday, Wednesday and Friday) but on Thursday 384,071,393.00 shares of the company were transacted.

Also, it is important to note that before the 384,071,393.00 trading volume, the price of Honeywell Flour Mill has been rising. Suggesting that there were likely underlying factors – from insiders – fueling activities on the company’s stock.

Since then the price of the stock has been rising despite stock investors asking factors responsible for the recent jump in the price of the stock.

Investors King had reported that Honeywell Flour Mill gained 28.13 percent or N0.45 to N2.05 a share last week to top gainers for the week.

The stock has now gained 54.4 percent since August 9, 2021.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, 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 Surges with N512bn Gain Amid Active Trading

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The Nigerian equity rebounded last week as investors pocketed a N512 billion gain on the back of the surge in trading activity.

This surge reflects an active trading environment and positive investor sentiment despite some sectoral declines.

The market capitalization of the Nigerian Exchange Limited rose by 0.87 percent to N56.929 trillion, while the All-Share Index (ASI) climbed 0.86 percent to close at 100,539.40 points.

The rise was driven by a notable increase in the prices of 37 stocks, outpacing the 34 stocks that experienced a price decline over the same period.

In total, investors traded 2.827 billion shares valued at N42.366 billion across 44,277 deals. This marks a slight increase from the previous week’s turnover of 2.765 billion shares worth N85.230 billion in 40,796 deals, indicating a vibrant trading environment.

The Financial Services Industry led the trading volume, contributing 77.08 percent to the overall stock turnover volume and 72.38 percent to the value.

Within this sector, Jaiz Bank Plc, Cutix Plc, and First City Monument Bank Group emerged as the top three equities by volume, accounting for 1.140 billion shares valued at N4.632 billion.

This strong performance underscores the sector’s pivotal role in the market’s recent gains.

The Industrial Goods Industry followed, with 246.921 million shares worth N2.039 billion traded in 2,068 deals, while the Oil and Gas Industry recorded a turnover of 107.218 million shares worth N1.704 billion across 3,128 transactions.

Despite the overall positive performance, several indices saw declines.

The Banking, Insurance, Consumer Goods, Oil and Gas, and NGX Sovereign Bond indices depreciated by 0.05 percent, 4.86 percent, 0.20 percent, 0.10 percent, and 4.35 percent, respectively.

Looking ahead, analysts suggest that the market may face a mildly negative close next week, influenced by cautious trading, especially in the banking sector, amid increased scrutiny.

Also, the Nigerian Stock Exchange has recently delisted the shares of Niger Insurance Plc, Resort Savings and Loans Plc, and RAK Unity Petroleum Plc effective July 18, 2024.

This action, in accordance with Clause 15 of the General Undertaking of the Exchange’s Rule Book, follows the companies’ failure to meet listing standards and reflects a broader effort to ensure market integrity.

Overall, last week’s performance highlights the Nigerian stock market’s resilience and growing investor confidence, even as it navigates sectoral challenges and regulatory changes.

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Nigerian Exchange Limited

NGX Rebounds with N263bn Gain as Small and Mid-Cap Stocks Surge

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The Nigerian Exchange Limited (NGX) recovered on Thursday amid the surge in strong investor demand for small and mid-cap stocks.

The market capitalisation rose by N263 billion to N56.91 trillion.

The All-Share Index climbed by 0.47%, closing at 100,503.21 points, reflecting a solid buying interest across various sectors.

Despite the market’s overall positive performance, trading activity was subdued with a 64.3% decrease in average daily volume to 392.8 million units.

However, the number of deals increased by 3.4% to 9,013, while the traded value declined by 17.3% to N8.33 billion.

Guaranty Trust Holding Company led the volume trades, with 39.75 million shares worth N1.80 billion across 663 deals.

Meanwhile, Airtel Africa dominated in value, with trades worth N2.25 billion in just 34 transactions.

Sector performance was mixed. Gains were recorded in the oil and gas, consumer goods, and industrial goods sectors, rising by 0.19%, 0.07%, and 0.01%, respectively.

Notable stocks included Airtel Africa, Eterna Plc, Oando, and NASCON Allied Industries.

Conversely, the insurance and banking sectors faced losses, declining by 2.35% and 2.28%.

Top gainers of the day were United Capital, Oando, and Africa Prudential, while Linkage Assurance and Veritas Kapital led the decliners.

This rebound highlights investor confidence in Nigeria’s equities market, with opportunities emerging in small and mid-cap stocks.

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Nigerian Exchange Limited

Equities Market Dips 0.04% as Q2 Earnings Hit NGX

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Stock - Investors King

Nigeria’s equities market experienced a slight decline of 0.04% on Wednesday ahead of the second quarter (Q2) financial results.

At the close of trading on the Nigerian Exchange Limited (NGX), the All Share Index (ASI) fell from the previous day’s high of 100,075.59 points to 100,032.32 points.

Similarly, the equities market capitalization decreased from N56.670 trillion to N56.645 trillion.

Jaiz Bank, Cutix, Zenith Bank, Universal Insurance, and FCMB Group were among the most actively traded stocks.

Investors exchanged 1,099,300,929 shares worth N10.076 billion across 8,720 deals.

Several stocks dominated the sell-side, including RT Briscoe, which fell from 70 kobo to 66 kobo, a 5.71% decrease.

FTN Cocoa dropped by 4.44%, while Tantalizer, Neimeth, and Consolidated Hallmark Holdings also saw declines.

The market’s year-to-date (YtD) positive return decreased to 33.78%. While this month has seen a marginal drop of 0.03%, the week still shows an increase of 0.36%.

The dip reflects investor reactions to the ongoing release of corporate earnings for Q2. As companies disclose their financial results, market participants are adjusting their positions accordingly.

As more Q2 financials are released, market volatility is expected. Investors are closely monitoring earnings reports to guide their investment strategies.

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