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Nigerian Exchange Limited

Global Stock Rout Has Nothing on Nigeria as Stock Investors Gain N1.2 Trillion Last Week

Investors in the Nigerian stock market pocketed a whopping N1.166 trillion last week as sentiment surged across the Exchange

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Stock Bull - Investors King

Nigerian stock market extended its gains last week despite rising global uncertainty and a tremendous plunge in global stocks and market capitalisation of the unregulated cryptocurrency market. Investors in the Nigerian stock market pocketed a whopping N1.166 trillion last week as sentiment surged across the Exchange.

Checks by Investors King revealed that activity level on the Nigerian Exchange Limited (NGX) jumped in the week, with invetsors transacting 1.816 billion shares worth N27.194 billion in 36,286 deals, against a total of 1,598 billion shares valued at N19.603 billion that exchanged hands in 21,494 deals in the previous week.

Breaking down key sectors, the financial services industry led the activity chart with 904.860 million shares valued at N8.498 billion traded in 12,883 deals. Therefore, contributing 49.82% and 31.25% to the total equity turnover volume and value, respectively. The conglomerates Industry followed with 263.830 million shares worth N540.313 million in 1,651 deals.

In the third place, was the consumer goods industry, with a turnover of 238.964 million shares worth N5.816 billion in 7,635 deals.

Transnational Corporation Plc, Guaranty Trust Holding Company Plc and Jaiz Bank Plc were the three most traded stocks in the week under review. The three accounted for 459,179 million shares worth N3.294 billion that were traded in 3,645 deals and contributed 25.28% and 12.11% to the total equity turnover volume and value, respectively.

Market capitalisation of all listed stocks appreciated by N1.166 trillion or 4.25% from N27.460 trillion recorded in the previous week to N28.626 trillion last week. The NGX All-Share index also rose by 4.25% or 2,163.43 index points to 53,098.46 index points, up from 50,935.03 index points.

Similarly, all other indices finished higher with the exception of NGX Insurance, NGX AFR Div Yield, and NGX Sovereign bond indices which depreciated at 1.92%, 2.82%, and 0.02%, while, NGX Asem index closed flat.

Fifty equities appreciated in price during the week, higher than Forty-nine equities in the previous week. Thirty-two equities depreciated in price, Unchanged from Thirtytwo equities in the previous week, while seventy-four equities remained unchanged lower than seventy-five equities recorded in the previous week.

Year to date, the Nigerian Exchange Limited has gained 59.52% despite global stock rout, compared to global stocks that have been on the decline since the beginning of the year. Dow Jones has shed 4,388.40 points, or 

In Europe, the story is not different as STOXX Europe 600 closed at 432.88, a 11.66% decline from its January 1, 2022 opening price. In Tokyo, stock market has lost 9.40%, or 2,754.74 points of its value this year.

China is also not excluded as Shanghai Stock Exchange has dropped 558.58 points, or year to date. See the details of NGX top gainers and losers below.

Stock

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, 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

Otedola’s Geregu Reports 50.5% Decline in Profit to N10.2 Billion in 2022

Profit before tax also dip to N15 billion from N29 billion the year before.

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Geregu Power

Geregu Power Plc reported a profit of N10.2 billion for the financial year ended 31st December 2022.

According to the financial statement seen by Investors King, this amount shows a decline in profit by 50.5% compared to the N20.6 billion recorded in the year 2021.

Revenue also declined in value to N47.6 billion in 2022 from N71 billion in filed in the corresponding year of 2021, this represents a 33% decline for the year. This is as Energy sold and capacity charge declined to N30 billion and N17 billion from N46 billion and N25 billion, respectively.

According to the company, the decline is owing to the nationwide force majeure declared by Shell Petroleum Development Company Limited on the Trans-Forcados pipeline and its consequent effects on the Forcados oil terminal, gas supplies to the plant by Its primary gas supplier ceased from 17th of July 2022.

However, it stated that maintenance works on the pipelines were completed at the end of November 2022 and gas supplies and normal operations have since then resumed.

Also, the cost of sale declined to record N24 billion in 2022 from the N38 billion in 2021. This is as gas supply and transportation as well as plant depreciation value dipped to N22 billion and N2 billion from N33 billion and N4 billion respectively.

Operating profit was N14.8 billion in 2022 from N29.5 billion while the net finance cost was N348 million from negative N11 million in the previous year.

Profit before tax also dip to N15 billion from N29 billion the year before.

Geregu was admitted into the Mainboard of the Nigerian Exchange Limited (NGX) in the last quarter last year by way of listing by Introduction (LBI) with the admittance of 2.5 billion ordinary shares of 50 kobo each at N100 per share on the Exchange, making it the first Genco to be listed on the NGX Main Board, a listing segment for well-established companies with demonstrable records of accomplishments.

Meanwhile, as at the close of market on Thursday, 2nd February, its share price closed at N219.

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Nigerian Exchange Limited

Stock Market Extends Decline as Selloff Continues Following Interest Rate Hike

investors exchanged 119.8 million shares worth N2.689 billion in 3,552 transactions during the trading hours of Wednesday, against 182.3 million shares worth N4.82 billion that were transacted in 3,470 deals on Tuesday.

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Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited (NGX) sheds another N32 billion on Wednesday after posting a N25 billion decline on Tuesday immediately after the Central Bank of Nigeria-led monetary policy committee hiked interest rate by 100 basis points from 16.5% to 17.5%.

Activity level dipped as investors exchanged 119.8 million shares worth N2.689 billion in 3,552 transactions during the trading hours of Wednesday, against 182.3 million shares worth N4.82 billion that were transacted in 3,470 deals on Tuesday.

Sectorial analysis shows the banking sector lost 34 basis points (bps) on a 2.41% decline in the value of UBA and a 0.55% dip in Accessco. Wema bank and Fidelity bank posted 1.52% and 0.60% gains, respectively.

The consumer goods sector appreciated by 34bps as the value of Unilever Nigeria jumped 7% following healthy financial results that show the company grew profit after tax by 110% to almost N1 billion in 2022. Intbrew recorded 5.38% while Honey Flour and Cadbury lost 5.15% and 2.07%, respectively.

The oil and gas sector closed flat, the same as the industrial sector.

The NGX All-Share Index depreciated by 0.02% from 52,612.55 index points closed on Tuesday to settle at 52,599.65 index points.

The market value of listed equities stood at N28.649 trillion, a N32 billion decline from N28.681 trillion it closed on Tuesday. The year-to-date return moderated to 2.63%. See top gainers and losers below.

Top Fiver Gainers

Symbols Last Close Current Change %Change
RTBRISCOE N 0.30 N 0.33 0.03 10.00 %
TRIPPLEG N 0.80 N 0.88 0.08 10.00 %
CHELLARAM N 1.50 N 1.65 0.15 10.00 %
OKOMUOIL N 165.00 N 181.10 16.10 9.76 %
CAVERTON N 0.95 N 1.03 0.08 8.42 %

Top Five Losers

Symbols Last Close Current Change %Change
THOMASWY N 1.45 N 1.31 -0.14 -9.66 %
CORNERST N 0.58 N 0.54 -0.04 -6.90 %
GEREGU N 142.40 N 134.00 -8.40 -5.90 %
HONYFLOUR N 2.33 N 2.21 -0.12 -5.15 %
CWG N 0.94 N 0.90 -0.04 -4.26 %

Top Five Trades

Symbols Volume Value
MBENEFIT 11258018.00 3865258.67
TRANSCORP 8751948.00 10605868.57
GEREGU 8536440.00 1143976583.90
FBNH 7690248.00 89815522.50
GTCO 6712639.00 161997631.90

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Nigerian Exchange Limited

Unilever Nigeria Grows Profit by 310% in Q4, 2022 as Cost of Sales Moderated Significantly

Revenue grew by 14.88% to N23.952 billion from N20.850 billion recorded in Q4 2021

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Unilever Nigeria Plc

Unilever Nigeria, a leading nutrition, hygiene and personal care company, reported stronger-than-expected fourth quarter (Q4) financial results for 2022 as the company made a series of adjustments to key areas.

Revenue grew by 14.88% to N23.952 billion from N20.850 billion recorded in Q4 2021. Cost of sales moderated by 30.51% to N9.652 billion, down from N13.890 billion spent on sales in Q4 2021.

Similarly, gross profit increased by 105.47% from N6.959 billion reported in Q4 2021 to N14.301 billion in the quarter under review.

Impairment loss on trade and intercompany receivables also declined to N3.596 million, a 97.69% decrease when compared to N156.264 million achieved in Q4 2021.

The company disclosed this in its unaudited financial statement released on Tuesday and obtained by Investors King.

Operating profit stood at N8.034 billion in the quarter, up from N2.319 billion posted in the same quarter of 2021.

Profit after tax for the quarter grew by 310% from N1.546 billion to N6.341 billion.

However, a critical analysis of the entire 2022 financial statement shows that despite the strong Q4 result, weak Q1, Q2 and not-so-good Q3 dragged on the company’s overall performance in the year.

Cost of sales rose by 14.12% to N57.238 billion from N50.162 billion in 2021, against the decline recorded in the fourth quarter.

Marketing and administrative expenses grew to N18.282 billion, an increase of 20.90% from N15.121 billion in 2021.

Profit after tax increased by 75.77% to N5.993 billion from N3.409 billion.

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