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Nigerian Exchange Limited

Nigerian Stock Market Shed N283 Billion in August 2022

Nigeria Exchange Limited (NGX) closed lower in August despite earnings and dividends announcement from listed companies

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At the end of August 2022, Nigeria Exchange Limited (NGX) closed lower despite earnings and dividends announcement from listed companies. 

This loss follows the uncertainty in the global economy, the prevailing economic challenges facing the country, the deteriorated insecurity and the citizens’ low purchasing power. 

Similarly, the uncertainty surrounding the general election in 2023 is taking a toll on the equity market. The fact that a large number of investors are shying away from the equity market because of the uncertainty that could accompany the election contributed to the negative performance of the stock market in August. 

Investors lost a total of N283 Billion which represents 1.07 percent of the market value in August. 

The overall market capitalisation of all the listed companies closed on August 31st, 2022 at N26.880 trillion as against N27.163 trillion when it opened on the 1st of August, 2022. 

The equity market faced several turbulences which include an inflation rate of 19.64 percent in July 2022 and the scarcity of foreign exchange which led to apathy from foreign investors. All these fundamental factors impacted negatively on the NGX. 

A closer analysis shows that the NGX Industrial Index suffered the highest decline in August, dropping by 13.8 percent while the Oil and gas Index depreciated by 4.3 per cent.

On the contrary, the NGX banking index added 2.4 per cent in August while the NGX Insurance Index increased by 7.9 percent. 

Reacting to this mixed development, an analyst at PAC Holdings, Wole Adeyeye, said some investors migrated from the stock market to fixed-income market in a move to take advantage of high yields, which was triggered by the recent hike in policy rate. 

He stated further that “ foreign investors avoided the Nigerian stock market due to the upcoming general elections, weak local currency and insecurity in the country.” 

While this trend may likely continue for a couple of months because of the attractiveness of the fixed income market which is expected to remain relatively high and the uncertainty surrounding the economy which has created a degree of fear for investors, the long-term outlook of the equity market looks positive. 

Besides, the equity market still maintains a positive performance in its Year-To-Date (YTD) scorecard as the market is up by 17.17%.

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Nigerian Exchange Limited

Stock Investors Lose N241 Billion Last Week

Investors in the Nigerian Exchange Limited (NGX) lost N241 billion last week as market uncertainty continues across the length and breadth of the market.

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Investors in the Nigerian Exchange Limited (NGX) lost N241 billion last week as market uncertainty continues across the length and breadth of the market.

Investors transacted 562.856 million shares worth N9.438 billion in 16,013 deals during the week, against a total of 719.398 million shares valued at N8.004 billion that exchanged hands in 17,444 deals in the previous week.

Breaking down each sector’s performance, the financial services industry led the activity chart with 381.958 million shares valued at N4.551 billion traded in 8,627 deals. Therefore, contributed 67.86% and 48.21% to the total equity turnover volume and value, respectively.

The ICT industry followed with 59.345 million shares worth N2.480 billion in 1,272 deals. In third place was the services industry, with a turnover of 32.212 million shares worth N95.807 million in 607 deals.

Zenith Bank Plc, NGX Group Plc and Guaranty Trust Holding Company Plc were the three most traded equities during the week. The three accounted for 183.929 million shares worth N3.499 billion in 3,628 deals and contributed a combined 32.68% and 37.07% to the total equity turnover volume and value, respectively.

The NGX All-Share index declined by 0.91% or 448.80 index points to 49,026.62 index points, down from 49,475.42 index points recorded in the previous week.

Market capitalization depreciated by N241 billion from N26.686 trillion recorded in the previous week to N26.445 trillion last week.

Similarly, all other indices finished lower with the exception of NGX Premium, NGX Banking, NGX Pension, NGX AFR Bank Value and NGX MERI Value which appreciated by 0.13%, 2.27%, 0.05%, 0.08% and 1.84% while The NGX ASeM, NGX Growth and NGX SOVBND indices closed flat.

Seventeen equities appreciated in price during the week, higher than thirteen equities in the previous week. Forty-two equities depreciated in price higher than Thirty-nine in the previous week, while ninety-seven equities remained unchanged lower than one-hundred and four equities recorded in the previous week.

The year-to-date return moderated to 14.77%. See the details of top gainers and losers below.

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Nigerian Exchange Limited

FBN Holdings, Other Stocks Lift NGX Market Value by N2 Billion on Tuesday

First Bank of Nigeria, Fidelity Bank, Zenith Bank, Linkage Assurance among others lifted the market value of the Nigerian Exchange Limited (NGX) by N2 billion on Tuesday. 

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Nigerian Exchange Limited - Investors King

FBN Holdings, Fidelity Bank, Zenith Bank, Linkage Assurance among others lifted the market value of the Nigerian Exchange Limited (NGX) by N2 billion on Tuesday. 

Trading session on the NGX on Tuesday 20th, 2022 witnessed some sell-off, especially in the blue-chip stocks. However, despite the sell-off, investors gained N2 billion in value as market capitalisation went up to N26.670 trillion. 

NGX All-Share Index (ASI) rose by 5.10 points, representing a growth of 0.01 percent to close at 49,445.31 points. 

Investors King analysis shows that the gains recorded in First Bank, Fidelity bank, Zenith Bank, Linkage Assurance, Briscoe Nigeria and six others were responsible for the marginal gain recorded on the Exchange today. 

R.T. Briscoe Nigeria led gainers with 10 percent to close at 33 kobo per share. First Bank of Nigeria Holdings followed with a gain of 5.00 percent to close at N10.50, while Linkage Assurance rose by 4.35 percent to call it a day at 48 kobo a share.

Also, Regency Alliance Insurance went up by 4.00 percent to close at 26 kobo. Mutual Benefits Assurance appreciated by 3.70 percent to settle at 28 kobo a unit.

Among gainers were Fidelity Bank and Jaiz Bank, the two added 2.05 percent and 1.20 kobo to close at N3.48 kobo and 84 kobo, respective.

Other stocks that appreciated on Tuesday include TransNational Corporation which appreciated by 95 percent to close at N1.06 kobo. Capital Hotel gained 29 percent to close at N3.41 kobo. Zenith Bank also garnered 25 percent to close at N19.80 kobo.

However on the losers side, TotalEnergies Marketing Nigeria led the pack by 9.98 percent to close at N211.10. Learn Africa followed with a decline of 9.71 per cent to close at N1.86, while Honeywell Flour Mills shed 8.13 percent to close at N2.26, per share. 

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Nigerian Exchange Limited

Red Star, Beta Glass, Others Top Losers as Stock Investors Lose N119 Billion Last Week

The Nigerian stock market closed in the red last week despite posting a 0.70% gain in the previous week.

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Nigerian Stock Exchange

The Nigerian stock market closed in the red last week despite posting a 0.70% gain in the previous week.

Investors exchanged a total of 719.398 million shares worth N8.004 billion in 17,444 deals, against a total of 949.819 million shares valued at N9.329 billion that exchanged hands in 18,525 deals in the previous week.

Breaking down activity in key sectors, the Financial Services Industry led the activity chart with 411.407 million shares valued at N3.943 billion traded in 9,471 deals. Therefore, contributing 57.19% and 49.26% to the total equity turnover volume and value respectively.

The ICT Industry followed with 177.815 million shares worth N955.781 million in 1,573 deals. The third place was the Conglomerates Industry, with a turnover of 36.577 million shares worth N2.332 billion in 2,425 deals.

Courteville Business Solutions Plc, Zenith Bank Plc and Access Holdings Plc were the three most traded equities and accounted for 278.293 million shares worth N1.984 billion that exchanged hands in 3,038 deals. The three contributed a combined 38.68% and 24.78% to the total equity turnover volume and value respectively.

The Nigerian Exchange Limited (NGX) All-Share Index depreciated by -219.70 index points, or 0.44% to 49,475.42, down from 49,475.42 index points recorded in the previous week. The market value of all listed equities declined by N119 billion from N26.805 trillion it closed in the previous week to N26.686 trillion last week.

Similarly, all other indices finished lower while the NGX ASeM and NGX Growth indices closed flat.

Thirteen equities appreciated in price during the week, lower than twenty-two equities in the previous week. Thirty-nine equities depreciated in price higher than Thirty-six in the previous week, while one-hundred and four equities remained unchanged higher than ninety-eight equities recorded in the previous week.

The Exchange year-to-date return to 15.82%. See details of top gainers and losers below.

Top 10

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