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Nigerian Exchange Limited

BUA Foods Plc Leads Stock Gainers Last Week, Stocks Market Gained N323 Billion

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The newly listed BUA Foods Plc led gainers last week as stock investors gained N323 billion to extend 2022 profit to 4.07 percent.

During the week, investors exchanged 1.600 billion shares worth N32.716 billion in 22,607 deals during the week, in contrast to a total of 2.027 billion shares valued at N59.014 billion that exchanged hands in 15,750 deals in the previous week.

The Financial Service Industry led the activity chart with 731.264 million shares valued at 6.517 billion traded in 10,822 deals; thus contributing 45.71 percent and 19.92 percent to the total equity turnover volume and value, respectively.

The Conglomerate Industry followed with 403.646 million shares worth N452.909 million in 1,537 deals. In third place was the Consumer Goods Industry, with a turnover of 314.768 million shares worth N17.759 billion in 4,101 deals.

Transnational Corporation of Nigeria Plc, BUA Foods Plc and Jaiz Bank Plc were the three most traded equities, accounting for 775.685 million shares worth N16.625 billion in 2,644 deals. Therefore, contributing 48.49 percent and 50.82 percent to the total equity turnover volume and value, respectively.

The Nigerian Exchange Limited (NGX) All-Share Index gained 1.37 percent to close the week at 44,454.67 index points, up from 43,854.42 index points recorded in the previous week.

Market value of listed equities appreciated by N323 billion from N23.628 trillion achieved in the first week of 2022 to N23.951 trillion last week.

Similarly, all other indices finished higher with the exception of NGX CG, NGX insurance, NGX AFR bank Value, NGX Consumer Goods and NGX Lotus II Indices, which depreciated by 0.79 percent, 1.54 percent, 0.07 percent, 4.35 percent, and 1.34 percent, respectively while the NGX ASem, NGX Growth I and NGX Sovereign bond indices closed flat.

Thirty-three equities appreciated in price during the week, lower than Forty equities in the previous week. Thirty-five equities depreciated in price, higher than Thirty-one equities in the previous week, while Eighty-eight equities remained unchanged lower than Eighty-four equities recorded in the previous week. See top gainers and losers below.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Nigerian Exchange Limited

Investors’ Profit Taking Chip Off N187bn From Nigerian Stock Market

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Profit-taking weakened the Nigerian Exchange Limited (NGX) by 0.33 percent on Wednesday as sell-offs persisted in 32 stocks.

As a result of this, the NGX market capitalisation of the stock market lost N187 billion to close at N56.448 trillion from N56.635 trillion.

The All-Share Index (ASI) also shed 0.33 percent or 327 points to close at 98,232.39, against 98,558.79 reported on Monday. The market didn’t trade on Tuesday (October 1) due to the 64th Independence Day celebration.

Investors King analysis of the market activities showed trade turnover settled lower, relative to the previous session, with the value of transactions down by 92.43 percent.

A total of 425.76 million shares valued at N8.45 billion were exchanged by investors in 11,954 deals, in contrast to 1.86 billion shares valued at N111.58 billion were exchanged in 10,583 deals posted previously.

Market breadth also closed negative with 32 losers and 26 gainers.

On the losers’ chart, Ellah Lakes led by 9.93 percent to close at N3.99 per share, while International Breweries led the gainers’ chart by 9.98 percent to close at N4.41 per share.

International Breweries emerged as the highest price gainer of 9.98 percent to close at N4.41, per share.

Meyer followed with a gain of 9.94 percent to close at N8.52, while Veritas Kapital Assurance increased by 9.93 percent to close at N1.66, per share.

Tripple Gee and Company rose by 9.91 percent to close at N4.99, while Deap Capital Management & Trust appreciated by 9.84 percent to close at N1.34, per share.

For the gainers, Ellah Lakes led others on the losers’ chart with 9.93 percent to close at N3.99, per share. Caverton Offshore Support Group followed with a decline of 9.92 percent to close at N2.18, while ABC Transport shed 9.57 percent to close at N1.04, per share.

Livestock Feeds depreciated by 9.03 percent to close at N2.72, while Consolidated Hallmark Holdings dipped by 7.24 percent to close at N1.41, per share.

On indices performance, the NGX Banking Index dropped by two percent and NGX Oil & Gas Index was down by 0.1  percent, while the NGX Consumer Goods Index added 1.1 percent and NGX Insurance Index appreciated by one percent. The NGX Industrial Goods index closed flat.

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Nigerian Exchange Limited

Stock Investors Gain N131 Billion on Tuesday

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Nigeria’s equities market opened the holiday-shortened trading week in green as investors bought banking and consumer goods stocks despite record profit taking in insurance, industrial, oil & gas stocks.

“Looking forward, the equities market is expected to retain its buy interest as investors cherry-pick undervalued stocks. However, given the sentiment that rates might have peaked in the fixed income and money markets and investors locking in on current rates, we expect some bearish undertone to persist in the equities market,” according to United Capital research analysts.

The analysts said the bulls “will remain incentivised to persist in bargain hunting, given the tremendous mid-long-term opportunities in the equities market. Fund managers and businesses may begin to entertain mid-long-term (≥6 months) investment objectives, cherry-picking only sound equities with strong fundamentals and ongoing corporate actions. This strategy will maximise market opportunities, thereby optimising portfolio returns”.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation appreciated by 0.23 percent and N131billion from preceding day’s 97,456.62 points and N56.002 trillion respectively to 97,685.63 points and N56.133 trillion.

The market’s year-to-date (YtD) return rose to 30.64 percent.

According to Meristem research analysts, “While we expect subdued participation in the Nigerian equities market this week, we anticipate that buying activity will outweigh profit-taking. Our outlook is hinged on the belief that no major negative catalysts are expected to shift market direction this week. We anticipate that investors will continue selective buying, seeking opportunities across various sectors.

“Additionally, macroeconomic developments and corporate actions from companies could stimulate moderate buying interest in the market. We also do not foresee a significant shift towards the fixed-income market as yields have started to stabilize. However, we acknowledge the potential for profit-taking as short-term investors may look to capitalize on recent gains. Overall, we expect the market to close in the green zone this week,” Meristem analysts said.

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Nigerian Exchange Limited

Nigeria’s Equities Market Gains 0.32% Boosted by Nestle, Flourmills, and FBN Holdings

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Nigeria’s equities market rose by 0.32 percent or N178billion on Thursday, thanks to Nestle, Flourmills and FBN Holdings that led the league of major advancers on the Lagos Bourse.

FBN Holdings increased from N24 to N26.40, adding N2.40 or 10percent. Caverton rose from N2.10 to N2.31, up by 21kobo or 10percent.

Flour Mills moved from N45.05 to N49.55, up by N4.50 or 9.99percent. RT Briscoe increased from N3.02 to N3.32, down by 30kobo or 9.93 percent, while Nestle rallied from N810 to N890, N80 or 9.88percent.

At the close of trading, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and equities market capitalisation increased from 96,715.04 points and N55.575 trillion respectively to 97,025.17 points and N55.753 trillion.

Access Holdings, FBN Holding, UBA, Caverton and Zenith Bank shares were most trading stocks. In 9,615 deals, investors exchanged 390,546,861 shares valued at N7.974billion.

Ahead of Thursday’s trading, analysts said broader market sentiment will remain balanced, with risk-averse investors maintaining a cautious stance ahead of any major corporate earnings announcements.

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