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Nigerian Exchange Limited

Activity Improves Slightly at the Nigerian Stock Market on Tuesday

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Stock bull - Investors King

Stock activity level inched slightly higher on Tuesday as investors transacted 421,820,943 shares worth N5.155 billion in 5,992 transactions during the trading hours of Tuesday, against 421,458,180 shares valued at N4.221 billion that exchanged hands in 5,961 transactions on Monday.

Market capitalisation of listed equities rose by N7 billion to N25.464 trillion on Tuesday from N25.457 trillion it closed on Monday. The NGX All-Share Index expanded by 0.03 percent to 47,246.9 index points.

Breaking doing each sector performance, the banking sector dipped by 8 basis points (bps) on 1.96%, 1.67% and 0.96% decline in Unity Bank, Ecobank and Access Bank, respectively. The gainers were Jaiz Bank, Wema Bank, UBA and Fidelity Bank.

Similarly, the consumer goods sector lost 40bps as stocks of Guinness and PZ dipped by 5.34% and 4.29%, respectively. Honey Flour posted a 1.30% gain.

The oil and gas sector however gained 1bp on 7.41% surged in the value of Eterna oil despite Oando shedding 0.96%. Also, the industrial sector gained 2bps on 9.65% and 9.27% improvement in the value of Cutix and Berger, respectively.

A total of 29 stocks closed in the green while 18 stocks lost points. The Exchange year-to-date rose to 10.61%. See the details of top gainers and losers below.

Top Gainers

Symbols Last Close Current Change %Change
NIGERINS N 0.20 N 0.22 0.02 10.00 %
LEARNAFRCA N 2.20 N 2.42 0.22 10.00 %
SCOA N 2.35 N 2.58 0.23 9.79 %
CUTIX N 2.59 N 2.84 0.25 9.65 %
MAYBAKER N 4.56 N 5.00 0.44 9.65 %

Top Losers

Symbols Last Close Current Change %Change
ELLAHLAKES N 4.25 N 3.83 -0.42 -9.88 %
VERITASKAP N 0.25 N 0.23 -0.02 -8.00 %
COURTVILLE N 0.54 N 0.51 -0.03 -5.56 %
GUINNESS N 74.00 N 70.05 -3.95 -5.34 %
NEIMETH N 1.89 N 1.80 -0.09 -4.76 %

Top Trades

Symbols Volume Value
UCAP 66097630.00 889150049.65
TRANSCORP 53531325.00 66282353.38
ZENITHBANK 51634460.00 1392047973.15
FIDELITYBK 44370000.00 137731618.52
ACCESS 26776972.00 277974094.35

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.

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Nigerian Exchange Limited

Nigeria’s Equities Market Gains 0.11%, Adds N62 Billion in Value

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The Nigerian equities market posted a 0.11 percent gain on Tuesday as increased buy-side actions boosted the market’s value by N62 billion.

This positive movement reflects renewed investor confidence and activity in the market.

Leading the charge were stocks like United Capital, UACN, and Cutix. Investors engaged in 8,151 deals, exchanging 368,392,413 shares worth N7.424 billion.

Among the top advancers, United Capital saw a significant rise from N30 to N33, adding N3 or 10 percent.

Cutix also performed well, climbing from N5.08 to N5.58, an increase of 50 kobo or 9.84 percent.

Sunu Assurances and Cornerstone Insurance were other notable gainers, with Sunu Assurances increasing from N1.29 to N1.39, adding 10 kobo or 7.75 percent, and Cornerstone moving from N1.95 to N2.10, up 15 kobo or 7.69 percent.

UACN also saw a substantial gain, rising from N14.15 to N15.20, an addition of N1.05 or 7.42 percent.

The market’s positive return year-to-date (YtD) now stands at 33.84 percent, with a marginal increase of 0.02 percent for the month. So far this week, the market has grown by 0.41 percent.

Key stocks such as Zenith Bank, Access Holdings, GTCO, Jaiz Bank, and UBA were actively traded, indicating strong investor interest.

At the close of trading on the Nigerian Exchange Limited (NGX), the All Share Index (ASI) and equities Market Capitalisation rose from the previous day’s low of 99,966.28 points and N56.608 trillion to 100,075.59 points and N56.670 trillion, respectively.

This uptick in market activity and value reflects growing optimism among investors, buoyed by positive corporate earnings and macroeconomic indicators.

As Nigeria’s market continues to evolve, stakeholders are hopeful for sustained growth and stability in the coming months.

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Nigerian Exchange Limited

NGX All Share Index Climbs to 99,966.28 Points

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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.

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Nigerian Exchange Limited

Nigerian Equities Market Dips by 0.35% in Volatile Trading Week

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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.

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