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Nigerian Exchange Limited

The Nigerian Exchange Sets to Embark on New Strategy to Build on Gains of Demutualization

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Nigerian Exchange Limited - Investors King

As part of the continuous activities by the NGX to improve business operations and processes, the board of the Exchange has approved the implementation of a new strategy aimed at digital transformation, strategic partnerships and customer-centric solutions.

The objective of the strategy is to ensure that the bourse becomes a “LEADER” organization with a focus on deepening the capital market, diversifying products and services, ensuring retail participation and delighting stakeholders across the board as contained in the report by the NGX.

Retrospectively, in 2021, Nigerian Exchange Limited experienced growth in trading figures with the NGX All Share Index returning 6.1% and turnover in the fixed income market increasing by 158% while fixed income figures rose by 12.81 during the year. In the same year, BUA Cement Plc performed the first-ever end-to-end digital transfer of N115,000,000.

In order to effectively consolidate these results, the Board of the Exchange has approved the restructuring of the bourse to efficiently implement its new strategy. As part of the restructuring, the Board has equally approved a change in the organizational structure with the attendant workforce restructuring of the workforce to better position the bourse to deliver competitive value in today’s dynamic technology-driven global capital market which will kick start on March 1, 2022.

By implication, the Exchange will transition from an operational structure of four Divisions, namely, Listings Business, Trading Business, Business Support Services, and Technology Services, to a refreshed operational structure of three Divisions namely: Capital Markets, Digital Technology, and Business Support Services.

In the closing remark, the new strategy is expected to contribute positively to the economy and as well efficiently serve the investors.

What to Expect from the new Strategy

  • The new improvement by the NGX will definitely bring about efficiency of operation and less human error during day to day operational process
  • The NGX is a leading integrated market infrastructure in Africa  and as it moves to the implementation of demutualization this will further increase the NGX competiveness as their market share will tend to grow as foreign investors will be attracted to invest.
  • As for the investor, this will further allow them to participate in the financial gains of the company, make profits through capital gains, and earn more money through dividend

 

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Nigerian Exchange Limited

Nigerian Stock Exchange Bounces Back, Gains N132 Billion in Market Cap

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Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited rebounded on Wednesday with the market capitalization surging by N132 billion.

This uptick was propelled by the positive performance of key stocks, including Seplat Energy (+10%), Meyer Plc (+9.79%), Sunu Assurance (+9.56%), Nestle (+9.52%), and Consolidated Hallmark Holdings Plc (+9.24%).

The All-Share Index closed rose by 0.34% to 71,283.34 points, reflecting investors’ optimistic sentiment, particularly in medium and large-cap stocks with solid fundamentals while the market capitalization increased to N39.007 trillion.

Despite a decline in total deals and volume by 19.14% and 32.55% to 6,579 deals and 360.60 million units respectively, the total value for the day increased by 17.64% to N6.61 billion.

Among the gainers, Seplat, Meyer, Sunu Assurance, Nestle Plc, and Consolidated Hallmark Holdings Plc stood out, closing at N2.310, N3.59, N1.49, N1.150, and N1.30 per unit, respectively, after gains ranging from 10% to 9.24%.

The losers’ chart was led by Guinea Insurance, down 10%, followed by Omatek (-9.88%), Abbey Mortgage Bank (-9.68%), Neimeth Pharma (-9.45%), and Tantalizer (-8.62%).

Performance across sectors was predominantly bullish, with the Insurance, Consumer Goods, Oil/Gas, and Industrial Goods indexes recording notable advancements of 1.17%, 0.89%, 6.06%, and 0.01%, respectively.

However, banking stocks emerged as the only laggard for the day, declining by 0.56%.

GT Bank (GTCO) dominated trading activities, emerging as the most traded security in terms of volume and value, with 56.91 million units worth N2.19 billion traded in 261 deals.

This positive momentum signals a renewed fervor in the Nigerian stock market.

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Nigerian Exchange Limited

Market Sheds N132 Billion as Union Bank Bows Out from NGX Official List

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Union bank - Investors King

The official delisting of Union Bank of Nigeria from the Nigerian Exchange Limited (NGX) on Monday triggered a notable N132 billion loss from the market capitalization.

NGX Regulations Limited, the regulatory arm of the Nigerian Exchange Group, confirmed the delisting in a notice to trading license holders.

Union Bank’s shares were suspended on November 14, leading to the delisting, which resulted in a market cap loss.

On its last day on the NGX Daily Official List, Union Bank had a market cap of N193.65 billion, with shares closing at N6.65 per unit.

Titan Trust Bank Limited, Union Bank’s core investor, had earlier announced plans to acquire minority shareholders’ shares, leading to the delisting.

Despite the delisting impact, the All-Share Index closed positively at the end of Monday’s trading, rising by 0.17% or 123.33 points to 71,353.81.

However, the market cap closed at N39.040 trillion, N132 billion lower than the N39.172 trillion recorded on the previous Friday.

Key performers in the market included AccessCorp, United Bank for Africa, Zenith Bank Plc, and Universal Insurance Plc.

Positive investor sentiments resulted in 32 gainers and 20 losers. Notable gainers included First Bank of Nigeria Holding, John Holt, and Tantalizer, each gaining 10%.

ETranZact led the losers’ chart with a 9.09% dip, and Unity Bank, amidst reported business combination talks with Providus Bank, landed on the losers chart with a 9.24% loss.

The volume of transactions on the NGX slightly increased to 746.67 million units from 582.77 million units traded on Friday.

Banking stocks, including AccessCorp, UBA, and Zenith Bank, were the major drivers of the day’s trend, accounting for volume and value in the market.

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Nigerian Exchange Limited

Nigerian Stock Market Records Marginal Decline, MTN and Dangote Sugar Lead Losers

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stock bear - Investors King

The Nigerian Exchange Limited witnessed a marginal downturn as market capitalization slipped by N35 billion on Wednesday.

The All-Share Index and Market Capitalization both depreciated by 0.09% to close at 71,003.98 points and N39.047 trillion, respectively.

Despite this dip, market breadth remained positive with 36 gainers and 15 losers.

Major contributors to the decline included MTN Nigeria (-0.63%), Dangote Sugar (-1.64%), Lafarge Africa Plc (-1.34%), United Bank for Africa (-0.24%), and FBN Holdings (-4%).

Gainers were led by RT Briscoe, Daar Communications, and Unity Bank, each posting a 10% gain. Meanwhile, MeCure Industries, Multiverse, and Secure Electronic Technology saw increases of 9.96%, 9.82%, and 9.52%, respectively.

On the downside, C&I Leasing, Prestige Assurance, International Breweries Plc, UPDC Real Estate Investment Trust, and FBN Holdings recorded losses of 7.58%, 7.55%, 5.56%, 4.60%, and 4%, respectively.

Sectoral performance varied, with the Banking and Insurance sectors posting marginal gains of 0.19% and 0.75%.

In contrast, the Consumer Goods and Industrial Goods sectors experienced losses of 0.19% and 0.08%, while the Oil/Gas index remained unchanged.

Market activity showed improvement, with total deals rising by 1.95% to 6,677 trades. The total traded value for the day surged by 128.85% to N7.37 billion, although the total volume declined by 12.81% to 428.44 million units.

Veritaskap led in trading volume, while MTN Nigeria dominated in terms of value, amounting to N2.81 billion.

The fluctuation in market indices underscores the dynamic nature of the Nigerian stock market, influenced by both local and global economic factors.

Investors are carefully navigating these shifts to optimize their portfolios in a constantly evolving market landscape.

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