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Nigerian Exchange Limited

NGX Closed Slightly Lower Last Week

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Investors at the Nigerian Exchange Limited (NGX) lost N21 billion last week after gaining N371 billion in the previous week.

Investors traded a total turnover of 866.544 million shares worth N12.257 billion in 17,291 deals last week, against a total of 1.610 billion shares valued at N12.586 billion that exchanged hands in 18,622 deals in the previous week.

In terms of volume traded, the Financial Services Industry led the activity chart with 445.324 million shares valued at N3.676 billion traded in 7,560 deals. Therefore, contributing 51.39 percent and 29.99 percent to the total equity turnover volume and value, respectively.

The Consumer Goods Industry followed with 119.649 million shares worth N4.969 billion in 3,424 deals. In the third place was ICT, with a turnover of 87.132 million shares worth N1.938 billion in 924 deals.

Honeywell Flour Mill Plc, Transnational Corporation of Nigeria Plc and Guaranty Trust Holding Company Plc were the three most traded stocks last week. The three accounted for a combined 203.753 million shares worth N 1.964 billion in 2,515 deals and contributed 23.51 percent and 16.02 percent to the total equity turnover volume and value, respectively.

The market value of all listed equities depreciated by 0.10 percent or N21 billion from N20.592 trillion recorded in the previous week to N20.571 trillion last week.

While the NGX All-Share Index dipped by 0.10 percent or 39.26 index points to 39,483.08 index points last week, down from 39,522.34 index points recorded in the previous week.

Honeywell Flour extended its bullish run last week, leading gainers with N0.95 or 46.34 percent to settle at N3 per share. Pharma-Deko Plc followed with N0.53 or 44.54 percent to close at N1.72 a share.

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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

NGX All Share Index Climbs to 99,966.28 Points

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The Nigerian Exchange Limited (NGX) rebounded on Monday as the All Share Index (ASI) rose by 0.30%, closing at 99,966.28 points.

This positive development came after a five-day streak of negative closes, bringing renewed optimism to the market.

Investors saw N168 billion gains with stock market capitalization increasing from the previous low of N56.440 trillion to N56.608 trillion.

Among the standout performers were stocks such as Ikeja Hotel, Cutix, RedStar Express, and Sunu Assurances.

Ikeja Hotel saw its stock price rise from N6.35 to N6.95, adding 60 kobo or 9.45%. Cutix experienced an impressive increase from N4.62 to N5.08, gaining 46 kobo or 9.96%.

RedStar Express moved up from N4.05 to N4.38, an increase of 33 kobo or 8.15%, while Sunu Assurances rose from N1.19 to N1.29, adding 10 kobo or 8.40%.

The market’s positive return year-to-date (YtD) increased to 33.70%, though there has been a slight decrease of 0.09% in the month-to-date performance.

Despite this, the overall sentiment remains optimistic, with investors hoping for continued positive momentum.

GTCO, Access Holdings, FCMB Group, Japaul Gold, and UACN were among the most actively traded stocks.

A total of 362.42 million shares worth N7.367 billion were exchanged in 8,405 deals, showcasing robust trading activity and investor interest.

Market analysts attribute the rebound to renewed investor confidence and positive sentiments surrounding key stocks.

“The significant gains in major stocks like Ikeja Hotel and Cutix have boosted investor morale, leading to a broader market recovery,” said a market analyst.

The Nigerian stock market’s recovery comes amid a challenging economic environment, with investors closely monitoring developments both locally and globally.

The positive performance of the NGX ASI on Monday serves as a beacon of hope for market participants, indicating potential stability and growth in the coming weeks.

As the market continues to respond to economic indicators and corporate earnings reports, investors will be keenly watching for sustained positive trends and opportunities for profitable investments.

The NGX’s performance on Monday sets a promising tone for the rest of the week, with market participants eagerly anticipating further gains and stability in the Nigerian stock market.

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Nigerian Exchange Limited

Nigerian Equities Market Dips by 0.35% in Volatile Trading Week

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Nigerian Exchange Limited - Investors King

In the trading week ended Friday, July 12, Nigeria’s equities market dipped by 0.35% with the Nigerian Exchange Limited (NGX) All Share Index (ASI) and Market Capitalisation decreasing to 99,671.28 points and N56.44 trillion, respectively, from the previous week’s close of 100,022.03 points and N56.58 trillion.

The market saw only one session of positive close, while the rest were negative, resulting in a loss of approximately N140 billion for investors.

This downturn in the equities market comes as a surprise to many who were expecting a more robust performance due to the upcoming second quarter (Q2) results filings and corporate actions anticipated to drive investor interest.

Despite these expectations, the overall sentiment among investors remained tepid, reflecting broader economic uncertainties.

During the review week, buy-side activities favored oil & gas and industrial stocks. However, banking, consumer goods, and insurance sectors saw a significant number of sell-offs.

Banking stocks, in particular, were actively traded due to the ongoing recapitalization exercise, which has created some volatility in the sector.

The elevated interest rates in the fixed income market continued to exert downward pressure on the equities market.

Many investors are opting for fixed income securities over stocks, given the higher yields available, thereby reducing demand for equities and contributing to the market’s decline.

Despite the weekly drop, the year-to-date (YtD) stock market return remains relatively strong at 33.30%.

However, the market’s performance this month has decreased by 0.39%, indicating a cooling off from the more robust gains seen earlier in the year.

The lukewarm attitude of investors towards stocks is partly due to broader macroeconomic concerns, including inflationary pressures and currency fluctuations.

These factors have made investors more cautious, preferring to wait for clearer signals from the Q2 corporate earnings season before making significant investment decisions.

Market analysts suggest that the forthcoming Q2 results and corporate actions could potentially provide the much-needed impetus for a market rebound.

However, they caution that persistent macroeconomic challenges could continue to weigh on investor sentiment.

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Nigerian Exchange Limited

Seplat Energy’s 8.30% Drop Leads Market Decline, NGX Down by N188 Billion

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Nigerian Exchange Limited - Investors King

Nigeria’s equities market declined by 0.33 percent or N188 billion on Thursday following a drop in Seplat Energy Plc’s share price.

This downturn reflects ongoing challenges in stimulating buy-side activity on the Lagos Bourse.

Seplat Energy Plc, a major player in Nigeria’s energy sector, saw its stock price plummet from N3,794.90 to N3,480, a decrease of N314.90 or 8.30 percent.

Other losers included Ikeja Hotel, which shed 65 kobo or 9.29 percent from N7 to N6.35 a share. The Honeywell Flour Mills also dropped 29 kobo or 8.41 percent from N3.45 to N3.16 while Champion Breweries lost 25 kobo or 7.55 percent from N3.31 to N3.06.

At the close of trading, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and Market Capitalisation, which stood at 99,802.06 points and N56.456 trillion respectively on the previous trading day, declined to 99,468.90 points and N56.268 trillion.

Investors exchanged a total of 296,731,688 shares worth N5.447 billion in 7,126 deals.

Fidelity Bank, Linkage Assurance, Access Holdings, Transcorp, and AIICO emerged as the most actively traded stocks during the session.

The stock market’s year-to-date (YtD) return also saw a decline, standing at 33.03 percent. Over the month, the market has decreased by 0.59 percent while this week’s performance showed a 0.55 percent drop.

Market analysts noted that the lack of substantial buy-side activity has been a significant factor in the recent downturn.

The decline in Seplat Energy’s share price underscores the broader challenges facing the Nigerian equities market, particularly in the energy sector.

As investors continue to navigate the complexities of the current market environment, the need for positive economic triggers and robust corporate performance becomes increasingly critical.

Market stakeholders will be closely monitoring developments in the coming weeks to gauge potential recovery signals and adjust their strategies accordingly.

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