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Nigerian Exchange Limited

Stocks Close Lower on Ahead of Christmas



Nigerian Exchange Limited - Investors King

Nigerian equities market closed in the red on Wednesday ahead of the Christmas holidays as 14 stocks lost points. Investors traded 224,026,702 shares worth N2.658 billion in 2,677 transactions during the trading hours of Wednesday.

Market value of all listed equities dropped to N22.050 trillion while the Nigerian Exchange Limited (NGX) depreciated by 0.34 percent to 42,244.22 index points.

Sectorial analysis showed the NGX Banking Index lost 100bps on UBN (-5.15%), UBA (-1.26%), WEMABANK (-1.25%) and ZENITHBANK (-1.01%). UNIYTYBANK (+2.22%) and FIDELITY (+0.39%) gained points.

The NGX Industrial index shed 21bps on WAPCO (-3.75%). CUTIX (+10.00%) was a gainer in that sector today.  However, the NGX Consumer Goods Index gained 58bps on NESTLE (+1.43%). INTBREW (-2.06%) was a loser in that space today. The NGX Oil and Gas Index lost 75bps on OANDO (-3.96%).

Top Five Gainers

Symbols Last Close Current Change %Change
MAYBAKER N 4.10 N 4.51 0.41 10.00 %
CUTIX N 2.40 N 2.64 0.24 10.00 %
UPDC N 1.16 N 1.25 0.09 7.76 %
CHIPLC N 0.59 N 0.62 0.03 5.08 %
CHAMS N 0.20 N 0.21 0.01 5.00 %

Top Five Losers

Symbols Last Close Current Change %Change
ROYALEX N 0.75 N 0.70 -0.05 -6.67 %
LASACO N 1.10 N 1.03 -0.07 -6.36 %
UBN N 4.85 N 4.60 -0.25 -5.15 %
FCMB N 3.00 N 2.87 -0.13 -4.33 %
OANDO N 4.55 N 4.37 -0.18 -3.96 %

Top Five Trades

Symbols Volume Value
UACN 77367451.00 696465127.15
MBENEFIT 15040350.00 4326136.50
SOVRENINS 12150005.00 3005001.25
VERITASKAP 9633012.00 2023012.52
ACCESS 8983532.00 80903596.70

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq,, Investorplace, and many more. He has over two decades of experience in global financial markets.

Nigerian Exchange Limited

Investors Lose N720bn in Midweek Sell-Offs



Nigerian Exchange Limited - Investors King

Investors at the Nigerian Exchange Group lost N720 billion on Wednesday, the third consecutive day of bearish activity on the exchange.

The Exchange has now lost a combined N1.54 trillion in the last three days.

On Wednesday, the All-Share Index plummeted by 1.31% to 99,302.37 points while market capitalization dropped to N54.32 trillion. This downward spiral brought the year-to-date returns to 32.80%.

Market breadth remained negative with only five gainers compared to 52 decliners.

Notable gainers included PZ Cussons, Juli Plc, and Axa Mansard, while FCMB Group, Lafarge Africa, and Nigerian Breweries led the decliners with losses of 10% each.

Bearish sentiments spread across various sectors, particularly Banking, Insurance, and Consumer Goods, experiencing declines of 6.90%, 3.72%, and 1.20%, respectively.

The negative trend was fueled by sell-offs in prominent stocks like Sterling Financial Holdings, Wema Bank, and AccessCorp.

Despite improved trading volume and total deals, which rose by 41.28% and 15.40% respectively, the total traded value fell by 4.80% to N5.83 billion.

Transcorp Plc emerged as the most traded security by volume, while Zenith Bank led in traded value at N1 billion, indicating mixed sentiments among investors amidst market uncertainties.

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Nigerian Exchange Limited

FBN Holdings, Multiverse, MTN Nigeria Lead Losers on Nigerian Exchange



Stock - Investors King

FBN Holdings, Multiverse, and MTN Nigeria emerged as the top losers on the Nigerian Exchange Limited (NGX) on Tuesday as market capitalisation dipped by N773 billion.

FBN Holdings, one of the most capitalized financial firms, declined by 10% to close at N30.60 per share.

This drop comes after the company had recently risen to prominence in the financial sector.

Multiverse, an active player in the industrial goods sector, also shed 10% to settle at N15.30 per share while MTN Nigeria saw its shares dip by 9.94% to N222.90 per share.

The downward trend in these key stocks contributed to the overall bearish performance of the Nigerian Exchange as the All-Share Index dipped by 1.39% and market capitalisation moderated to N55.04 trillion.

Market sentiment remained negative, with 27 losers outweighing 10 gainers, indicating widespread sell-offs across various sectors. Africa Prudential Plc, Omatek, and Juli Plc were among the few gainers.

Despite the challenges faced by these companies, market analysts remain cautiously optimistic about the prospects of the Nigerian Exchange.

They emphasize the importance of monitoring market dynamics and making informed investment decisions amidst the prevailing volatility.

As the Nigerian Exchange navigates through turbulent waters, investors are advised to exercise prudence and diligence in their investment strategies to mitigate risks and capitalize on potential opportunities that may arise in the market.

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Nigerian Exchange Limited

Nestle, Eterna, Fidson Drag Nigerian Exchange Down, Wiping Out N51bn



stock bear - Investors King

The Nigerian Exchange (NGX) opened the week in the red as Nestle Plc, Eterna, and Fidson Healthcare Plc closed lower to wipe out a combined N51 billion from the market capitalization.

Nestle Plc shed 10 percent to close at N990 per share while Eterna and Fidson Healthcare Plc plummeted by 9.97 percent and 9.82 percent to settle at N15.80 and N15.15 per share, respectively.

At the close of trading, the All-Share Index (ASI) dipped by 0.09 per cent to 101,995.53 points and the NGX market capitalization fell to N55.81 trillion.

This downturn reflects investors’ concerns about the stability of these key companies amidst broader economic uncertainties.

Analysts had anticipated a bearish sentiment as investors sought guidance from economic policymakers and corporate earnings reports.

With the NGX struggling to find solid footing, investors remain cautious about their portfolio allocations, especially with rising fixed-income yields and impending monetary policy decisions.

The trading session saw a marginal increase in transaction volume, rising by 1.14 percent to 294.32 million units.

However, the value of transactions surged by 12 per cent to N6.72 billion, indicating intensified trading activity despite the overall market decline.

Also, the number of deals rose by 29 percent to 9,957, showcasing heightened market participation.

While the banking sector recorded a modest 1.35 percent gain, driven by increased interest in FBN Holdings, JaizBank, and Sterling Financial Holdings Plc, other sectors faced challenges.

The consumer goods and oil/gas sectors experienced notable declines, contributing to the overall negative sentiment.

As market participants await corporate earnings reports and the outcome of the Monetary Policy Committee meeting, the NGX remains susceptible to volatility, highlighting the need for cautious investment strategies in the current economic landscape.

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