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Nigerian Exchange Limited

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

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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

C & I Leasing, Others Top Losers’ Chart Despite NGX Closing in Green

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C & I Leasing, Prestige Assurance and other stocks closed in the red on Tuesday despite the Nigerian Exchange Limited (NGX) closing in the green.

The market value of listed stocks grew by N6 billion to N24.755 trillion, slightly up from N24.749 trillion it closed on Monday. While the NGX All-Share Index gained 0.02 percent to settle at 45,939.51 index points.

Investors exchanged 247,694,304 shares worth N3.577 billion in 4,242 deals during the trading hours of Tuesday, against 278,605,710 shares valued at N2.887 billion transacted in 4,447 deals on Monday.

Breaking doing each sector, the NGX banking index gained 52bps on ETI (+9.94%), Wema Bank (+1.19%). UBN (+0.85%), and UBA (+0.62%). However, Access Bank, Zenith Bank and Sterling Bank shed 1.03%, 0.78% and -0.62% lost points.

Similarly, the NGX consumer goods index appreciated by 8bps on the back of 8.05 percent gain in Champion and 1.54 percent improvement in Honey Flour. The oil and gas index also appreciated as Seplat gained 1.28 percent.

The industrial index lost 3bps on a 0.39 percent decline in WAPCO. See top gainers and losers below.

Top Gainers 

Symbols Last Close Current Change %Change
COURTVILLE N 0.50 N 0.55 0.05 10.00 %
ETI N 9.05 N 9.95 0.90 9.94 %
ACADEMY N 0.72 N 0.79 0.07 9.72 %
CHAMPION N 2.36 N 2.55 0.19 8.05 %
REGALINS N 0.38 N 0.40 0.02 5.26 %

Top Losers 

Symbols Last Close Current Change %Change
CILEASING N 4.20 N 3.78 -0.42 -10.00 %
PRESTIGE N 0.51 N 0.46 -0.05 -9.80 %
CORNERST N 0.53 N 0.51 -0.02 -3.77 %
MBENEFIT N 0.27 N 0.26 -0.01 -3.70 %
UPDC N 1.16 N 1.12 -0.04 -3.45 %

Top Trades

Symbols Volume Value
GTCO 24519109.00 625346343.70
COURTVILLE 21425555.00 11764033.01
TRANSCORP 20439908.00 21648542.88
ZENITHBANK 17318113.00 440520098.70
CHAMS 16555538.00 3330924.87

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Nigerian Exchange Limited

NGX Dips Slightly on Monday, Sheds 0.06 Percent

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The Nigerian Exchange Limited (NGX) All-Share Index fell slightly on Monday after appreciating by 7.59 percent year to date.

Investors exchanged 278,605,710 shares valued at N2.887 billion in 4,447 transactions during the trading hours of Monday, while the market value of listed equities dipped by N12 billion to N24.749 trillion. NGX All-Share Index depreciated by 0.06 percent or 29.08 index points to 45,928.27 index points.

The sectoral breakdown showed the NGX banking index lost 45 basis points (bps) on declines in Unity Bank (-2.00%), UBA (-1.22%) and Zenith Bank (-0.78%). Sterling Bank (+1.90%) and Fidelity Bank (+1.13%) gained points.

Also, the NGX consumer goods index shed 23 bps on FTNCOCOA (-7.69%), NB (-1.46%), Unilever (-1.14%) and Champion (-0.42%). Honey Flour (+1.56%), Guinness (+0.71%) and Flour Mill (+0.18%) gained points. NGX industrial index dipped by 1bps on Cutix (-4.00%).

The NGX Oil and Gas Index, however, gained 167bps on SEPLAT (+3.30%).  The year-to-date return moderated to 7.52 percent as only 15 stocks recorded gain against 26 that closed in the red. See top gainers and losers below.

Top Gainers

Symbols Last Close Current Change %Change
LIVINGTRUST N 1.04 N 1.14 0.10 9.62 %
NNFM N 7.90 N 8.65 0.75 9.49 %
ACADEMY N 0.66 N 0.72 0.06 9.09 %
COURTVILLE N 0.46 N 0.50 0.04 8.70 %
ABCTRANS N 0.34 N 0.36 0.02 5.88 %

Top Losers

Symbols Last Close Current Change %Change
REGALINS N 0.42 N 0.38 -0.04 -9.52 %
FTNCOCOA N 0.39 N 0.36 -0.03 -7.69 %
NEM N 3.70 N 3.50 -0.20 -5.41 %
SOVRENINS N 0.24 N 0.23 -0.01 -4.17 %
CUTIX N 2.50 N 2.40 -0.10 -4.00 %

Top Trades

Symbols Volume Value
CHAMS 40546364.00 8114620.41
UBA 35114612.00 284738155.75
COURTVILLE 33325899.00 16547038.86
STERLNBANK 18779050.00 30102731.70
ACCESS 17068152.00 166412767.70

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Nigerian Exchange Limited

Stock Investors Gained N810 Billion Last Week

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The Nigerian Exchange Limited (NGX) extended its gain for the third straight week in 2022 as sentiment rose across the Exchange. Investors gained N810 billion last week following N323 billion profit recorded in the previous week.

Investors transacted 1.858 billion shares worth N47.486 billion in 20,861 deals during the week, in contrast to a total of 1.600 billion shares valued at N32.716 billion that exchanged hands in 22,607 deals in the previous week.

The Financial Service Industry led the activity chart with 815.363 million shares valued at N7.066 billion traded in 10,736 deals. Therefore, contributing 43.89 percent and 14.88 percent to the total equity turnover volume and value, respectively. The ICT Industry followed with 596.575 million shares worth N845.020 million in 1,028 deals.

In third place was the Conglomerates Industry, with a turnover of 161.347 million shares worth N191.189 million in 983 deals.

Computer Warehouse Group Plc, Transnational Corporation of Nigeria Plc and FBN Holdings Plc were the three most traded equities. Together accounted for 810.748 million shares worth N2.080 billion that were exchanged in 1,499 deals and contributed 43.65 percent and 4.38 percent to the total equity turnover volume and value, respectively.

The market value of listed equities grew by 3.38 percent or N810 billion from N23.951 trillion in the previous week to N24.761 trillion last week. The NGX All-Share Index expanded by 1,502.68 index points or 3.38 percent to 45,957.35 index points, up from 44,454.67 index points filed in the previous week.

Similarly, all other indices finished higher with the exception of NGX insurance index, which depreciated by 0.27 percent, while the NGX ASem, and NGX Sovereign bond indices closed flat.

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

The Exchange year-to-date return stood at 7.59 percent, up from N4.01 percent achieved in the previous week. See other details below.

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