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Nigerian Exchange Limited

Jaiz Bank, Access Bank, Others Led Stock Trading on Monday

Nigeria’s stock market opened the week slightly lower as activity moderated on Monday following a positive close last week.



stock - Investors King

Nigeria’s stock market opened the week slightly lower as activity moderated on Monday following a positive close last week.

Investors transacted 232,944,695 shares worth N2.186 billion in 4,425 deals on Monday. Jaiz Bank was the most traded stock with 40,420,867 shares estimated at N36,171,892.05.  This was followed by Access Bank’s 35,805,356 shares valued at N293,556,018.25

Analysis of each sector showed the banking sector appreciated by 25 basis points (bps) on a 4.65% increase in the value of Jaiz Bank, 2.38% gain in Unity Bank, 0.70% improvement in the worth of UBA and 0.65% appreciation of Sterling Bank’s shares. Fidelity Bank lost 0.65%.

Consumer goods lost 51bps as the value of NB dropped by 2.86%, even though Vitafoam and Honey Flour gained 8.37% and 1.10%, respectively.

The oil and gas dipped by 5bps on a 1.22% decline in the worth of Ardova stock. The industrial sector, however, closed flat.

The market value of all listed equities declined by N3 billion from N26.797 trillion it closed on Friday to N26.794 trillion on Monday.

Nigerian Exchange Limited (NGX) All-Share Index lost 0.01% to 49,676.75 index points, down from 49,682.15 index points achieved on Friday.

The Exchange year-to-date return stood at 16.29% as 18 stocks gained points while 9 stocks lost points. See other details below.

Top Five Gainers 

Symbols Last Close Current Change %Change
TRANSEXPR N 0.63 N 0.69 0.06 9.52 %
UPDCREIT N 3.25 N 3.55 0.30 9.23 %
MULTIVERSE N 2.40 N 2.62 0.22 9.17 %
VITAFOAM N 20.30 N 22.00 1.70 8.37 %
COURTVILLE N 0.48 N 0.52 0.04 8.33 %

Top Five Losers 

Symbols Last Close Current Change %Change
CAVERTON N 1.15 N 1.04 -0.11 -9.57 %
JOHNHOLT N 0.89 N 0.81 -0.08 -8.99 %
JAPAULGOLD N 0.34 N 0.31 -0.03 -8.82 %
AIICO N 0.55 N 0.53 -0.02 -3.64 %
NB N 47.15 N 45.80 -1.35 -2.86 %

Top Five Trades

Symbols Volume Value
JAIZBANK 40420867.00 36171892.05
ACCESSCORP 35805356.00 293556018.25
FBNH 23063532.00 251378892.30
MBENEFIT 19935090.00 6059349.50
ZENITHBANK 12450376.00 273664098.55

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq,, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Nigerian Exchange Limited

Nigerian Stock Market Dips as Weak Momentum Drains N39 Billion from Investors



stock bear - Investors King

The Nigerian stock market experienced a downturn on Friday as the local bourse closed negatively by 0.11% week-on-week, causing investors to lose N39 billion.

This drop in market performance was primarily attributed to weak market momentum.

Both the market capitalization and the Nigerian Exchange Limited All Share Index ended trading lower at N36.847 trillion and 67,324.59 points, respectively, compared to the previous week’s figures of N36.886 trillion and 67,395.74 basis points.

Despite the overall decline, the total turnover of shares showed an increase as 3.911 billion units worth N30.38 billion were traded in 38,536 deals, against a total of 2.933 billion shares valued at N47.45 billion that were exchanged in 44,654 deals.

The Financial Services Industry led in terms of volume traded with 2.774 billion shares valued at N15.24 billion while the Oil and Gas Industry followed with 438.508 million shares worth N5.20 billion, and the ICT Industry ranked third with 294.470 million shares valued at N4.447 billion.

The Insurance sector emerged as the top gainer during the week with a 3.34% increase, followed by Consumer goods (+2.98%), Banking (+0.61%), and Oil & Gas (+0.56%).

In contrast, the Industrial Goods sector saw a 4.80% decline, primarily due to a decrease in Dangote Cement’s share price.

The week saw 48 equities appreciating in value, 40 equities depreciating, and 67 remaining unchanged. Sunu Assurances topped the gainers’ chart with a 32.91% increase in share price, followed by Ellah Lakes Plc (+28.79%) and E-Tranzact International Plc (+28.57%).

Tantalizers led the losers’ table with a 21.05% dip, followed by Guinea Insurance (-20.69%) and McNichols (-13.33%).

Analysts expect mixed sentiments in the market for the coming week, with positive momentum potentially offset by profit-taking activities. The uncertainty is expected to be fueled by half-year earnings reports and continued portfolio reshuffling in preparation for the quarter-end reporting season.

Investors are advised to stay vigilant and adapt to market dynamics as they navigate these challenging times.

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Nigerian Exchange Limited

Dr. Yemi Cardoso’s Nomination Boosts Confidence as Stock Investors Gained N264 Billion



Dr. Olayemi Michael Cardoso

The bullish momentum in the Nigerian Exchange Limited continued on Tuesday as investors pocketed N264 billion in profit following Monday’s gains of N263 billion.

Both the market capitalization and the All-Share Index, which gauge the movement of share prices for all listed companies surged by 0.71 percent to N37.413 trillion and 68,359.22 points, respectively.

This optimistic trading trend emerges as investors increasingly show confidence in the local market and the broader economy, fueled in part by the news of Dr. Yemi Cardoso’s nomination as the Governor of the Central Bank of Nigeria.

As Tuesday’s session drew to a close, the volume of shares traded experienced a significant uptick of 31.33 percent to 676.74 million. However, the number of deals declined by 8.35 percent to 7,659 while the total trade value decreased by 33.97 percent to N5.89 billion.

Market sentiments also leaned towards the bullish side, with 36 gainers outpacing the 27 losers.

Among the top-performing stocks that caught the attention of investors were:

  • Berger Paints Plc, which surged by 9.95 percent to conclude the trading day at N11.60.
  • Oando Plc, which recently released its audited results for 2021, saw a 9.92 percent increase, closing at N13.30.
  • BUA Foods, which gained 6.32 percent to close at N196.70.
  • PZ’s shares appreciated by 1.45 percent per unit, ending at N20.
  • GTCO Plc stock increased in value by 0.43 percent, closing at N35.40.

On the flip side, the top losers included:

  • SCOA Plc, witnessing a 10 percent depreciation in its shares, closing at N1.24.
  • Unilever’s shares recorded an 8.28 percent drop, concluding at N13.30.
  • United Bank for Africa Plc, which lost 1.96 percent in share value, closing at N17.50.
  • FBN Holdings Plc, suffering a 1.69 percent decline, closing at N17.40.
  • Accesscorp’s shares depreciated by 0.29 percent, closing trading at N17.40.

The Nigerian Exchange continues to display its resilience and attractiveness to investors, making it an exciting space to watch for potential opportunities and market trends.

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Nigerian Exchange Limited

Nigerian Stock Market Sheds N409 Billion Last Week



stock bear - Investors King

Investors in the Nigerian stock market lost N409 billion last week after weeks of bullish run following President Bola Ahmed Tinubu’s economic restructuring.

During the week, investors traded 2.933 billion shares worth N47.449 billion in 44,654 deals against a total of 2.644 billion shares valued at N45.450 billion that exchanged hands in 44,189 deals in the previous week.

The Financial Services Industry led the activity chart with 1.955 billion shares valued at N26.384 billion that were traded in 21,707 deals. Therefore, contributing 66.67% and 55.61% to the total equity turnover volume and value, respectively.

The Oil and Gas Industry followed with 281.356 million shares worth N5.307 billion that exchanged hands in 4,423 deals. In third place was the Conglomerates Industry, with a turnover of 280.586 million shares worth N1.763 billion in 3,079 deals.

United Bank for Africa Plc, Transnational Corporation Plc and Access Holdings Plc were the three most traded equities in the week. The three accounted for 1.026 billion shares worth N13.649 billion that were transacted in 9,733 deals and contributed 34.98% and 28.77% to the total equity turnover volume and value respectively.

The NGX All-Share Index declined by 1.10% to close the week at 67,395.74 index points from 68,143.34 index points reported in the previous week while market capitalization depreciated by the same 1.10% or N409 billion to close the week at N36.886 trillion.

Similarly, all other indices finished lower with the exception of NGX Insurance, NGX MERI Growth and NGX Growth which appreciated by 0.46%, 0.55% and 4.15% respectively while the NGX ASeM index closed flat.

Thirty-two equities appreciated in price during the week lower than fifty-two equities in the previous week. Fifty-three equities depreciated in price higher than thirty-five in the previous week, while seventy equities remained unchanged, higher than sixtyeight recorded in the previous week.

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