Connect with us

Nigerian Exchange Limited

Stock Investors Cashout as NGX Continues to Decline

Investors in the Nigerian Exchange Limited (NGX) lost N127 billion last week as more investors cash out following the interest rate increase by the Central Bank of Nigeria (CBN) last week.

Published

on

stock - Investors King

Investors in the Nigerian Exchange Limited (NGX) lost N127 billion last week as more investors cash out following the interest rate increase by the Central Bank of Nigeria (CBN) last week.

During the week investors exchanged a total of 917.190 million shares worth N14.803 billion in 19,513 deals, in contrast to a total of 504.322 million shares valued at N7.517 billion that exchanged hands in 12,393 deals in the previous week.

The Financial Services Industry led the activity chart with 648.207 million shares valued at N6.258 billion traded in 9,293 deals. Therefore, contributing 70.63% and 42.27% to the total equity turnover volume and value, respectively.

The Consumer Goods Industry followed with 102.605 million shares worth N3.211 billion in 3,016 deals. In third place was the Conglomerates Industry, with a turnover of 36.218 million shares worth N193.474 million in 562 deals.

United Bank For Africa Plc, Guaranty Trust Holding Company Plc and Access Holdings Plc accounted for 355.624 million shares worth N4.120 billion in 3,486 deals, contributing 38.77% and 27.83% to the total equity turnover volume and value, respectively.

The NGX All-Share Index depreciated by 0.45% or 235.20 index points to close the week at 51,979.92 index points, down from 52,215.12 index points recorded in the previous week.

The market value of all equities dipped by the same 0.45% or N127 billion to settle at N28.031 trillion in the week under review from N28.158 trillion.

Similarly, all other indices finished lower with the exception of the NGX Insurance, NGX MERI Growth, NGX Oil/Gas, NGX Growth and NGX Sovereign Bond Indices which appreciated at 1.81%, 1.01%, 3.80%, 0.41% and 0.15% while, the NGX ASeM index closed flat.

Nineteen equities appreciated in price during the week, lower than Twenty in the previous week. Thirty-six equities depreciated in price higher than Thirty-two in the previous week, while one hundred and one equities remained unchanged lower than one hundred and four equities recorded in the previous week.

The Exchange year to date declined to 21.69%. See other details below.

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.

Continue Reading
Comments

Nigerian Exchange Limited

Nigerian Exchange Returns to Red Zone, Equity Investors Lose N67bn

Published

on

stock - Investors King

The Nigerian Exchange plunged back into the red zone on Thursday as equity investors incurred N67 billion in losses.

The downward trend was primarily attributed to widespread sell-offs observed across key sectors, including banking, insurance, and consumer goods.

The All-Share Index closed the trading session with a decline of 0.12 percent to settle at 101,239.10 index points while the market capitalization closed lower at N55.40 trillion.

Despite a brief respite earlier in the week, the market failed to sustain its positive momentum.

Year-to-date returns moderated to 35.39 percent, reflecting the volatile nature of recent trading sessions.

Trading activities remained subdued with a 16.43 percent decrease in traded volume to 252.9 million units.

Similarly, total traded value declined by 24.54 percent to N4.94 billion, accompanied by a 15.83 percent dip in total deals to 7,248.

Market breadth leaned towards negativity, with 22 gainers overshadowed by 28 losers.

The decliners included notable companies like Daar Communications, Wema Bank, and PZ Cussons, which collectively contributed to the bearish sentiment prevalent in the banking, insurance, and consumer goods sectors.

Continue Reading

Nigerian Exchange Limited

Nigeria’s Equities Market Rebounds, Gains N165 Billion Amid Investor Optimism

Published

on

Nigerian Exchange Limited - Investors King

Nigeria’s equities market rebounded on Wednesday as gained N165 billion in value amid renewed optimism and strategic re-entry into undervalued stocks.

The recent downturn which plagued the market earlier in the week saw investors holding back amidst uncertainties surrounding fixed-income securities’ interest rates.

However, Wednesday’s rebound reflected a shift in sentiment as investors identified opportunities for lucrative returns in value stocks.

Key players such as BUA Cement and FBN Holdings spearheaded the market’s upward trajectory with notable gains observed across various sectors.

BUA Cement surged by 4.93% from N142.95 to N150 per share while FBN Holdings gained by 9.96% from N26.10 to N28.70 per share.

Despite these gains, Okomu Oil Palm experienced a decline with its share price dropping from N270 to N243, representing a 10% decrease.

The market’s positive performance defied earlier projections of a prolonged bearish trend. Analysts had anticipated a continuation of the subdued market activity due to prevailing uncertainties in the fixed-income segment.

Wednesday’s trading session saw increased activity, with investors exchanging 302,739,517 shares valued at N6.552 billion across 8,611 deals.

Active trading was observed in stocks such as FBN Holdings, Japaul Gold, Transcorp, Veritas, and GTCO.

The surge in the equities market reflects investors’ resilience and their confidence in the long-term prospects of Nigeria’s economy.

It also underscores the dynamic nature of the market, where strategic investments and timely interventions can yield substantial gains even in challenging times.

Continue Reading

Nigerian Exchange Limited

Honeywell Flour Mills, BUA Cement Lead Losers as Nigerian Market Dips N730bn

Published

on

stock - Investors King

The Nigerian equity market continued its downward spiral as Honeywell Flour Mills and BUA Cement emerged as the top losers.

The All-Share Index (ASI) declined by 1.30 percent to settle at 101,060.67 points while the market capitalization plummeted to N55.298 trillion, representing a decline of N730 billion in just two consecutive trading days.

The bearish trend which commenced on Monday persisted as investors grappled with mounting concerns over economic uncertainties and global market dynamics.

Honeywell Flour Mills led losers with a 10 percent decline to close at N3.60 per share. Followed closely by BUA Cement’s 9.98 percent of its share value to settle at N142.95.

PZ Cussons also experienced a notable dip, posting a 9.75 percent loss to close at N27.30 per share.

The persisting sell-offs predominantly affected medium to penny stocks, with only eight equities managing to record gains amidst 43 losses.

Market analysts attributed the performance to a combination of factors, including ongoing global economic uncertainties, currency devaluation concerns, and profit-taking activities by investors.

The decline in trading activity was evident as the total volume and value of trades witnessed significant declines, reflecting a cautious approach by investors amid the prevailing market turbulence.

Despite the challenges, industry experts urge investors to remain vigilant and adopt prudent investment strategies to navigate the unpredictable market terrain, emphasizing the importance of diversification and long-term investment perspectives in mitigating risks and preserving capital in volatile market conditions.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending