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Nigerian Exchange Limited

Nigerian Stocks Fall by N391 Billion After Dangote Cement Sell-Off

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Stock - Investors King

Nigerian stocks went down by 1.77 percent (or N391.3 billion) on Thursday, as a negative investor sentiment cleared out all the gains brought in at the last trading session, setting up the market for a negative return this week.

Dangote Cement, which is the country’s biggest company in terms of market value, let go of about 10 percent (the highest daily downward movement allowed by the exchange) as huge amounts of the firm’s shares were put up for sale. Pressure on NGX Group and Unity Bank to sell also fueled the loss.

NEM Insurance announced a plan to reconstruct shares, which will see every two of the underwriter’s shares turned into one, in a bid to cut its outstanding shares into half. The company said this has gotten the approval of its shareholders.

Analysts at Lagos-based investment bank, United Capital said in a note that while there is belief that room exists for a short-term rebound in future trading sessions, it still maintains a month-long bullish perspective on the equities market as sell pressures come back later in the month.

The all-share index went down by 749.94 basis points to sit at 41,685.22. In a similar vein, market capitalization went down to N21.76 trillion. Year to date, the index has gone up by 3.51 percent.

In the gaining chart, SAHCO came top as it traded an increase of 9.66 percent to close at N4.88. Oando also came in the top five, as it gained 8.33 percent to close at N4.93. WAPIC went up by 8.51 percent to close at N0.51. Mutual Benefits also saw a jump, moving up 8.33 percent to close at N0.26. Consolidated Hallmark then closed out the top five, rising 8.16 percent and closing at N0.53.

On the opposite side, Dangote Cement led all the losers as it fell by 10 percent to close at N252. UACN also went down by 10 percent to close its trade at N9, as Neimeth lost 6.86 percent as it closed at N1.63. May & Baker saw a 6.46 percent loss, closing at N4.20 and Pharma Deko completed the worst losers, as it went down 5.21 percent to close at N2.

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Nigerian Exchange Limited

CBO Capital Partners Ltd Divests N80.112 Million from Ellah Lakes Plc

CBO Capital, an investment advisory, and project development firm based in Lagos, sold 20,333,000 Ellah Lakes shares worth N80,112,020.

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Ellah Lakes

CBO Capital, an investment advisory, and project development firm based in Lagos, sold 20,333,000 Ellah Lakes shares worth N80,112,020.

The management of Ellah Lakes disclosed in a statement signed by Olumoroti Alli (OAKE Legal), Company Secretary.

CBO Capital sold 10,000,000 shares at N3.58 per share on 8 August. On August 9th, the company sold another 333,000 shares at N3.93 per share and 10,000,000 shares at N4.30 per share.

See other details of the transactions below.

CBO Partner

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Nigerian Exchange Limited

NAHCO, FCMB, Others Gain as NGX Closed in Red

Stocks of NAHCO, FCMB, Ikeja Hotel and others closed in the red on Thursday as the Nigerian Exchange Limited (NGX) extended its decline.

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Nigerian Exchange Limited - Investors King

Stocks of NAHCO, FCMB, Ikeja Hotel and others closed in the red on Thursday as the Nigerian Exchange Limited (NGX) extended its decline.

Investors exchanged 133,591,047 shares worth N2.438 billion in 4,292 deals during the trading hours of Thursday. UBA was the most traded stock with an estimated 20,453,288 shares valued at N143,647,202 exchanging hands. Chams holding company followed with 8,978,109 shares worth N2,772,466.88.

A critical look into each sector, the banking sector lost 62 basis points (bps) as stocks of Jaiz Bank, UBA and Sterling Bank lost 5.56%, 2.78 and 2%, respectively. Wema Bank and Fidelity Bank appreciated by 6.87% and 1.66%.

The consumer goods sector declined by 3bps on 0.95% depreciation in Intbrew despite Honey Flour gaining 1.52%.

Oil and gas and industrial sectors however closed in the green. Oil and gas appreciated by 6bps on the back of a 2.80% increase in the value of Eterna.

The industrial sector gained 10bps on a 2.74% gain in Cutix and 1.29% in the worth of Wapco.

The NGX All-Share Index depreciated by 0.12% to 50,014.6 index points while the market value of listed equities was N26.976 trillion.

The Exchange year-to-date return moderated to 17.09% as a total of 21 stocks gained against 15 stocks that lost points. See other details of top gainers and losers below.

Top Gainers 

Symbols Last Close Current Change %Change
NAHCO N 5.30 N 5.83 0.53 10.00 %
FCMB N 3.05 N 3.35 0.30 9.84 %
IKEJAHOTEL N 1.06 N 1.16 0.10 9.43 %
MULTIVERSE N 2.06 N 2.25 0.19 9.22 %
COURTVILLE N 0.47 N 0.51 0.04 8.51 %

Top Losers 

Symbols Last Close Current Change %Change
ABCTRANS N 0.30 N 0.28 -0.02 -6.67 %
JAIZBANK N 0.90 N 0.85 -0.05 -5.56 %
STANBIC N 29.00 N 28.05 -0.95 -3.28 %
CAVERTON N 1.05 N 1.02 -0.03 -2.86 %
UBA N 7.20 N 7.00 -0.20 -2.78 %

Top Trades

Symbols Volume Value
UBA 20453288.00 143647202.00
CHAMS 8978109.00 2772466.88
ACCESSCORP 8165564.00 72687379.70
JAPAULGOLD 7346278.00 2859880.92
JAIZBANK 7103653.00 6240492.39

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Nigerian Exchange Limited

Stock Investors Pockets N195 Billion Last Week

Nigeria’s stock investors gained N195 billion last week despite the drop in activity level at the Nigerian Exchange Limited (NGX).

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Stock - Investors King

Nigeria’s stock investors gained N195 billion last week despite the drop in activity level at the Nigerian Exchange Limited (NGX).

Investors traded 705.636 million shares worth N12.850 billion in 22,124 deals during the week under review, in contrast to a total of 1.546 billion shares valued at N16.289 billion that exchanged hands in 23,873 deals in the previous week.

Breaking down key sectors, the Financial Services Industry led the activity chart with 442.525 million shares valued at N4.345 billion traded in 9,995 deals. Therefore, contributing 62.71% and 33.81% to the total equity turnover volume and value, respectively.

The Consumer Goods Industry followed with 82.126 million shares worth N2.176 billion in 3,875 deals. In third place was the Conglomerates Industry, with a turnover of 51.083 million shares worth N242.084 million in 694 deals.

Guaranty Trust Holding Company Plc, Zenith Bank Plc and FBN Holdings Plc were the three most traded equities last week. The three accounted for a combined 173.852 million shares worth N3.073 billion that were traded in 4,324 deals during the week. The three contributed 24.64% and 23.91% to the total equity turnover volume and value, respectively.

The NGX All-Share Index appreciated by 0.70%, or 352.08 index points from 50,370.25 index points it closed in the previous week to 50,722.33 index points last week.

The market capitalisation gained N195 billion to N27.358 trillion last week, up from N27.358 trillion it settled in the previous week.

Similarly, all other indices finished higher with the exception of The NGX-Main Board, NGX NGX Insurance, NGX Industrial Goods and NGX Sovereign Bond Indices which depreciated by 1.16%, 0.37%, 5.76% and 0.07% while, The NGX ASeM index closed flat.

Forty- one equities appreciated in price during the week, higher than eleven in the previous week. Twenty-two equities depreciated in price lower than fifty-three in the previous week, while ninety three equities remained unchanged higher than ninety-two equities recorded in the previous week.

The year-to-date gain tick slightly higher to 18.74%. See other details below.

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