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

2 years 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 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

Stock Investors Gain N131 Billion on Tuesday

Published

2 days ago

September 18, 2024

Samed Olukoya

Nigerian Exchange Limited - Investors King

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.

Nigerian Exchange Limited

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

Published

1 week ago

September 13, 2024

Investors King

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.

Nigerian Exchange Limited

Nigerian Exchange Recovers from Early Week Losses, Market Value Hits N55.6 Trillion

Published

1 week ago

September 11, 2024

Samed Olukoya

The Nigerian Exchange Limited (NGX) rebounded on Tuesday after opening the week in the red.

The NGX All-Share Index appreciated by 0.62 percent to 96,802.8 points while the market value of listed equities stood at N55.626 trillion.

Investors traded 406,194,548 shares valued at N13.313 billion in 12,241 transactions during Tuesday’s trading session.

Investors continued to show interest in Oando, which emerged as the most traded equity in both volume and value.

A total of 58,485,705 shares worth N5.521 billion were exchanged, with Oando’s stock appreciating by N6, or 6.7 percent, from N89.5 to N95.5 per share.

The second most traded stock on Tuesday was Access Holdings Plc with 30,379,481 shares valued at N557.65 million transacted.

However, Access Holdings’ shares lost 55 kobo, or 2.96 percent, declining from N18.95 to N18 per share.

The Exchange’s year-to-date (YtD) return improved to 29.46 percent.

SFS REIT led the gainers’ chart, increasing by N14.80, or 9.98 percent, from N148.35 to N163.15 per share. This was followed by Custodian Investment, which gained N1.10, or 8.87 percent, rising from N12.40 to N13.50, while RT Briscoe moved from N2.82 to N3.10 per share.