Nigerian Exchange Limited

Nigerian Stock Market Sheds Another 1.09% Amid Currency Redesign

NGX extended its bearish trend last week after the Central Bank of Nigeria (CBN) announced plans to redesign Naira notes

Published

2 years ago

October 31, 2022

Samed Olukoya

Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited (NGX) extended its bearish trend last week after the Central Bank of Nigeria (CBN) announced plans to redesign Naira notes amid flooding and the persistent increase in prices of food items ahead of the 2023 general elections.

During the week, activity dropped by almost 50%, partly due to the Naira redesign announced by the CBN and a series of other fundamental factors.

Stock investors transacted 598.817 million shares worth N14.234 billion in 15,859 deals during the week, against a total of 938.020 million shares valued at N16.701 billion that exchanged hands in 15,700 transactions in the previous week.

The Financial Services Industry led the activity chart with 398.264 million shares valued at N2.219 billion traded in 8,247 deals. Therefore, contributed 66.51% and 15.59% to the total equity turnover volume and value, respectively.

The Conglomerates Industry followed with 37.514 million shares worth N49.503 million in 393 deals. In third
place was the ICT Industry, with a turnover of 30.708 million shares worth N8.383 billion in 1,218 deals.

Mutual Benefits Assurance Plc, Sterling Bank Plc and Fidelity Bank Plc. were the three most traded equities during the week. The three accounted for a combined 181.347million shares worth N248.920 million that were exchanged in 854 deals and contributed 30.28% and 1.75% to the total equity turnover volume and value respectively.

The market capitalisation depreciated by 1.09% or N264 billion from N24.182 trillion it closed in the previous week to N23.918 trillion.

The NGX All-Share Index also lost 1.09% or 484.09 index points to close at 43,912.64 index points, down from the 44,396.73 index points it settled in the previous week.

Similarly, all other indices finished lower with the exception of NGX-Main Board, NGX Banking, NGX MERI Value and NGX Industrial indices which appreciated by 0.83%, 0.07%, 1.21% and 0.34% respectively, while the NGX ASeM and NGX Growth indices closed flat.

Twenty-nine equities appreciated in price during the week, lower than thirty-three equities in the previous week. Thirty-one equities depreciated in price higher than twenty-nine in the previous week, while ninety-seven equities remained unchanged higher than ninety-five equities recorded in the previous week.

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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

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

Published

1 day 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.

Nigerian Exchange Limited

Investors Lose N112 Billion as Equities Market Declines on Monday

Published

2 days ago

September 10, 2024

Samed Olukoya

The Nigerian equities market opened the week in the red as the Exchange shed N112 billion on Monday.

Investors traded 774,377,516 shares worth N14.65 billion in 10,412 transactions during the trading session.

The market value of listed stocks and the all-share index rose by 0.24 percent to settle at N55.28 trillion and 96,205.85 points, respectively.

Eterna led the gainers with a 10 percent increase, closing the day at N33.00 per share. This was followed by Tantalizers, which also saw a 10 percent rise to N89.50. Oando and FTN Cocoa Processors appreciated by 9.95 percent and 9.93 percent, respectively, closing at N89.50 and N1.66.

On the other hand, Learn Africa led the losers with an 11.18 percent decline, dropping to N4.13 per share.

Julius Berger Nigeria followed, losing 10 percent to close at N153.45. Transcorp Power shed 9.99 percent to settle at N301.70, while McNichols dropped 9.4 percent to close at N1.35.

Further analysis showed that Jaiz Bank was the most traded stock in terms of volume, with investors transacting 247 million shares. Zenith Bank, FBN Holdings, and Guaranty Trust Holding followed with 173 million shares, 41.5 million shares, and 33.9 million shares, respectively.

Last week, the Exchange lost N83 billion as the All-Share Index and market capitalisation dipped by 0.15 percent due to sell-offs in big stocks.

Nigerian Exchange Limited

Transcorp Power Extends Decline, Market Value Dips to N2.26 Trillion

Published

2 days ago

September 10, 2024

Samed Olukoya

Transcorp Power Plc on Monday extended its decline as the company’s directors offloaded their shares to increase liquidity.

The share dipped by 9.99% from N335.2 per share it opened the day to close at N301.7 a share.

Transcorp Power has been trading at about a 22% discount to its highest share price since listing, prompting investors to take profits before further potential market corrections.

The NGX now values Transcorp Power’s outstanding 7.5 billion shares at N2.262 trillion, down from its previous highs.

Market analysts believe this correction was inevitable, given the thin trading activity compared to the company’s substantial market value.

The drop is being viewed as a natural market adjustment, but the scale of the decline has left many investors and market watchers concerned about future movements in Transcorp Power’s stock price.

Despite the decline, Transcorp Power remains viable in the utilities sector, and the current market shake-up may present a buying opportunity for investors looking to capitalize on the lower price.

The company has yet to release an official statement addressing the stock decline, but market participants will be watching closely to see how Transcorp Power navigates this period of volatility.

Investors will also be keen to understand whether the company’s fundamentals can support a rebound in the near future, especially as the broader market faces challenges related to economic uncertainty and profit-taking activities.