Nigerian Exchange Limited

Stock Market Declined Marginally on Tuesday

The stock market in Africa’s largest economy Nigeria declined slightly on Tuesday after opening the week with a N56 billion gain on Monday.

Published

1 year ago

July 20, 2022

Samed Olukoya

The stock market in Africa’s largest economy Nigeria declined slightly on Tuesday after opening the week with a N56 billion gain on Monday.

Investors transacted 205,641,440 shares valued at N2.787 billion in 4,127 transactions during the Tuesday trading hours, against 116,280,764 shares estimated at N3.465 billion that exchanged hands in 4,525 deals on Monday. Again, the United Bank for Africa was the most traded equity for the second consecutive trading session.

A critical analysis of each sector showed the banking index dipped by 41bps on the back of declines in the value of Union Bank of Nigeria, Unity Bank and Fidelity Bank. UBA, the most traded equity in the last two days, appreciated by 0.67% and FCMB grew by 0.66%.

The consumer goods index declined as Unilever lost 3.23% and Intbrew declined by 1.72% in value. Even though Dangote Sugar gained 0.63%, the index still shed 13bps.

However, the oil and gas index appreciated by 75bps on a 5.01% gain in Oando. Similarly, the industrial index improved by 19bps on a 2.51% gain in the value of Wapco.

The market value of listed equities depreciated by N6 billion from N28.214 trillion on Monday to N28.208 trillion on Tuesday.

While the Nigerian Exchange Limited (NGX) All-Share Index dipped by 0.02% to 52,308.88 index points, down from 52,319.94 index points recorded on Monday.

The Exchange year-to-date gain moderated to 22.46% as a total of 16 stocks gained and another 16 closed in the red. See the details of top gainers and losers below.

Top Gainers

Symbols	Last Close	Current	Change	%Change
RTBRISCOE	N 0.40	N 0.44	0.04	10.00 %
GLAXOSMITH	N 6.10	N 6.65	0.55	9.02 %
CORNERST	N 0.62	N 0.66	0.04	6.45 %
COURTVILLE	N 0.47	N 0.50	0.03	6.38 %
FTNCOCOA	N 0.33	N 0.35	0.02	6.06 %

Top Losers

Symbols	Last Close	Current	Change	%Change
MULTIVERSE	N 1.79	N 1.62	-0.17	-9.50 %
JAPAULGOLD	N 0.27	N 0.25	-0.02	-7.41 %
ACADEMY	N 2.00	N 1.86	-0.14	-7.00 %
CAVERTON	N 1.37	N 1.28	-0.09	-6.57 %
UPDC	N 1.24	N 1.19	-0.05	-4.03 %

Top Trades

Symbols	Volume	Value
UBA	74276211.00	556835187.35
ACCESSCORP	16092459.00	146445007.40
AIICO	14099336.00	8895458.85
FBNH	12817692.00	140498405.35
GTCO	8883266.00	190491703.20

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Samed Olukoya

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

Nigerian Exchange Rebounds with N166bn Gain, Led by Key Banking and Tech Stocks

Published

4 hours ago

December 6, 2023

Investors King

The Nigerian Exchange Limited bounced back on Tuesday as investors gained N166 billion after a brief stint in the red earlier in the week.

The market’s resilience was marked by a 0.43% rise in both market capitalization and the All-Share Index to close at N38.989 trillion and 71,250.17, respectively.

The resurgence was spearheaded by robust performances in the stocks of AccessCorp, United Bank for Africa, Zenith Bank Plc, FBNHoldings, and MTN Nigeria, showcasing the influential role of key banking and technology sectors in shaping market dynamics.

The day’s trading saw a significant uptick in transaction volume, surging by 20.93% to 433.57 million, valued at over N11.11 billion.

This indicated a robust 56.53% increase in trade value compared to the previous day. A total of 122 stocks were active in 7,016 deals, underlining the depth of market engagement.

Noteworthy gainers contributing to the positive trend included Secure Electronic Technology Plc, Multiverse, Sunu Assurance, FBNH, and Thomas Wyatt, posting gains of 10.00%, 9.95%, and 9.92%, respectively.

On the flip side, Abbey Mortgage Bank Plc led the decliners with a 9.88% depreciation.

The day’s market dynamics were notably influenced by key value drivers.

The Nigeria Infrastructure Debt Fund, managed by Chapel Hill Denham, made waves as it announced a special distribution to unit holders, contributing to its active trading volume of 20,517,592 units valued at N2.22 billion.

Airtel Africa, MTN Nigeria, UBA, and UAC Nigeria also played pivotal roles, contributing significantly to the total volume traded for the day.

This robust rebound underscores the dynamic nature of the Nigerian stock market, reflecting the interplay of various sectors in shaping its trajectory.

Nigerian Exchange Limited

Nigerian Stock Market Loses N259 Billion Amidst Medium-Cap Company Declines

Published

1 day ago

December 5, 2023

Investors King

In a day marked by losses in the equities of several medium-cap companies, the Nigerian Exchange Limited lost N259 billion in market capitalization.

BUA Cement led the loser’s chart with a 10% decline in share value to close at N93.60 per unit from N104 it settled the previous session.

Other impacted stocks contributing to the market downturn included Dangote Sugar (-0.43%), Lafarge (-0.17%), Oando Plc (-2.12%), Fidson (-3.53%), NGX Group (-0.68%), Zenith Bank (-0.43%), and United Bank for Africa (-0.23%).

The overall market capitalization and All-Share Index saw a 0.66% decrease to N38.823 trillion and 70,946.83, respectively as the year-to-date returns dipped to 38.43%.

Despite the overall decline, positive market sentiments persisted, resulting in 33 gainers and 26 losers.

The top gainer was the paper company, Thomas Wyatt, gaining 10% and closing at N2.75 per unit.

First Bank of Nigeria Holdings and Daar Communications also made significant gains, closing at N24.35 per unit (up 9.93%) and N0.34 (up 9.68%), respectively.

On the losing side, BUA Cement’s 10% decline was followed by McNichols, down 9.33%, and Computer Warehouse Group, which lost 7.50%.

The real estate firm, UPDC, also dipped by 7.14%, closing at N1.17.

Volume drivers for the day included Universal Insurance, Transnational Corporation, Airtel Africa, and GTCO.

Three out of five sectors tracked closed in the red zone, with the Insurance, Oil/Gas, and Industrial Goods indexes recording losses while Banking and Consumer Goods sectors saw slight advances.

Cowry Asset Management Limited researchers anticipate a dynamic week for investors as they navigate potential profit-taking and corrections amid global events, fixed-income yields, and Central Bank of Nigeria policies.

Nigerian Exchange Limited

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

Published

6 days ago

November 30, 2023

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.