Connect with us

Nigerian Exchange Limited

Stock Investors Gained N646 Billion Last Week

Published

on

stock bull - Investors King

Investors in the Nigerian stock market gained N646 billion last week on the back of renewed interest in the Nigerian Exchange Limited (NGX).

During the week, investors exchanged 1.471 billion shares worth N20.941 billion in 20,410 deals against a total of 1.428 billion shares valued at N12.373 billion that exchanged hands in 23,987 transactions in the previous week.

In terms of volume traded, the Financial Services Industry led the activity chart with 996.555 million shares valued at N10.279 billion traded in 10,565 deals. Therefore, it contributed 67.74 percent and 49.09 percent to the total equity turnover volume and value, respectively.

The Conglomerates Industry followed with 203.251 million shares worth N1.204 billion in 834 deals. In third place was Consumer Goods Industry, with a turnover of 105.410 million shares worth N3.217 billion in 2,789 deals.

FBN Holdings Plc, Sterling Bank Plc and UACN Plc were the three most traded equities for the week. The three accounted for 519.011 million shares worth N4.057 billion in 1,787 deals, contributing 35.28 percent and 19.37 percent to the total equity turnover volume and value, respectively.

The NGX All-Share Index appreciated by 2.95 percent or 1,238.51 index points from 42,014.50 index points recorded in the previous week to 43,253.01 index points last week.

Market value of listed equities gained N646 billion from N21.926 trillion achieved in the previous week to N22.572 trillion last week.

Similarly, all other indices finished higher with the exception of NGX Banking, NGX Insurance, NGX-AFR Bank Value, NGX AFR Div Yield, NGX MERI Growth, NGX Oil/Gas and NGX Industrial Goods indices which depreciated by 1.13 percent, 2.25 percent, 1.83 percent, 0.44 percent, 0.80 percent, 0.69 percent and 0.01 percent, respectively. While the NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat.

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

The market year-to-date return moderated to 7.41 percent.

stock gainers

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.

Continue Reading
Comments

Nigerian Exchange Limited

NGX All Share Index Climbs to 99,966.28 Points

Published

on

Nigerian Exchange Limited - Investors King

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.

Continue Reading

Nigerian Exchange Limited

Nigerian Equities Market Dips by 0.35% in Volatile Trading Week

Published

on

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.

Continue Reading

Nigerian Exchange Limited

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

Published

on

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.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending