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Nigerian Exchange Limited

Stock Market Sustains Gain as Investors Pocketed N1.668 Billion Last Week

The Exchange year-to-date return jumped by 172.36% from the 4.16% it closed in the previous week to 11.33% last week

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stock bull - Investors King

The Nigerian stock market extended gains last week after posting a N292 billion gain in the previous week as more investors jumped on oversold stocks with strong fundamentals.

During the week, activity rose with a total of 711.618 million shares worth N15.338 billion traded in 16,662 deals, against a total of 694.376 million shares valued at N8.667 billion that exchanged hands in 15,418 deals in the previous.

The financial services industry led the activity chart with 461.230 million shares valued at N3.697 billion traded in 7,653 deals. Therefore, contributed 64.81% and 24.10% to the total equity turnover volume and value, respectively.

The Conglomerates Industry followed with 99.881 million shares worth N139.213 million in 582 deals. In third
place was the ICT Industry, with a turnover of 37.953 million shares worth N7.577 billion in 1,050 deals.

Transnational Corporation Plc, AIICO Insurance Plc and Zenith Bank Plc were the three most traded equities during the week. The three accounted for 194.600 million shares worth N1.191 billion in 1,974 deals and contributed 27.35% and 7.76% to the total equity turnover volume and value, respectively.

The Nigerian Exchange Limited (NGX) All-Share Index appreciated by 6.88% or 3,061.61 index points to close at 47,554.34 index points last week, up from 44,492.73 index points recorded in the previous week.

Market value of all listed equities improved by N1.668 billion from N24.234 trillion posted in the previous week to N25.902 trillion last week.

Similarly, all other indices finished higher with the exception of NGX Oil & Gas and NGX Sovereign Bond, which depreciated by 1.29% and 0.32% respectively, while the NGX ASeM and NGX Growth indices closed flat.

Forty-nine equities appreciated in price during the week, higher than thirty-one equities in the previous week. Nineteen equities depreciated in price lower than thirty-three in the previous week, while eighty-nine equities remained unchanged, lower than ninety-three equities recorded in the previous week.

The Exchange year-to-date return jumped by 172.36% from the 4.16% it closed in the previous week to 11.33% last week, Investors King research has shown. See the details of the top gainers and losers below.

 

 

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

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Nigerian Exchange Limited

Stock Market Extends Decline as Selloff Continues Following Interest Rate Hike

investors exchanged 119.8 million shares worth N2.689 billion in 3,552 transactions during the trading hours of Wednesday, against 182.3 million shares worth N4.82 billion that were transacted in 3,470 deals on Tuesday.

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Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited (NGX) sheds another N32 billion on Wednesday after posting a N25 billion decline on Tuesday immediately after the Central Bank of Nigeria-led monetary policy committee hiked interest rate by 100 basis points from 16.5% to 17.5%.

Activity level dipped as investors exchanged 119.8 million shares worth N2.689 billion in 3,552 transactions during the trading hours of Wednesday, against 182.3 million shares worth N4.82 billion that were transacted in 3,470 deals on Tuesday.

Sectorial analysis shows the banking sector lost 34 basis points (bps) on a 2.41% decline in the value of UBA and a 0.55% dip in Accessco. Wema bank and Fidelity bank posted 1.52% and 0.60% gains, respectively.

The consumer goods sector appreciated by 34bps as the value of Unilever Nigeria jumped 7% following healthy financial results that show the company grew profit after tax by 110% to almost N1 billion in 2022. Intbrew recorded 5.38% while Honey Flour and Cadbury lost 5.15% and 2.07%, respectively.

The oil and gas sector closed flat, the same as the industrial sector.

The NGX All-Share Index depreciated by 0.02% from 52,612.55 index points closed on Tuesday to settle at 52,599.65 index points.

The market value of listed equities stood at N28.649 trillion, a N32 billion decline from N28.681 trillion it closed on Tuesday. The year-to-date return moderated to 2.63%. See top gainers and losers below.

Top Fiver Gainers

Symbols Last Close Current Change %Change
RTBRISCOE N 0.30 N 0.33 0.03 10.00 %
TRIPPLEG N 0.80 N 0.88 0.08 10.00 %
CHELLARAM N 1.50 N 1.65 0.15 10.00 %
OKOMUOIL N 165.00 N 181.10 16.10 9.76 %
CAVERTON N 0.95 N 1.03 0.08 8.42 %

Top Five Losers

Symbols Last Close Current Change %Change
THOMASWY N 1.45 N 1.31 -0.14 -9.66 %
CORNERST N 0.58 N 0.54 -0.04 -6.90 %
GEREGU N 142.40 N 134.00 -8.40 -5.90 %
HONYFLOUR N 2.33 N 2.21 -0.12 -5.15 %
CWG N 0.94 N 0.90 -0.04 -4.26 %

Top Five Trades

Symbols Volume Value
MBENEFIT 11258018.00 3865258.67
TRANSCORP 8751948.00 10605868.57
GEREGU 8536440.00 1143976583.90
FBNH 7690248.00 89815522.50
GTCO 6712639.00 161997631.90

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Nigerian Exchange Limited

Unilever Nigeria Grows Profit by 310% in Q4, 2022 as Cost of Sales Moderated Significantly

Revenue grew by 14.88% to N23.952 billion from N20.850 billion recorded in Q4 2021

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Unilever Nigeria Plc

Unilever Nigeria, a leading nutrition, hygiene and personal care company, reported stronger-than-expected fourth quarter (Q4) financial results for 2022 as the company made a series of adjustments to key areas.

Revenue grew by 14.88% to N23.952 billion from N20.850 billion recorded in Q4 2021. Cost of sales moderated by 30.51% to N9.652 billion, down from N13.890 billion spent on sales in Q4 2021.

Similarly, gross profit increased by 105.47% from N6.959 billion reported in Q4 2021 to N14.301 billion in the quarter under review.

Impairment loss on trade and intercompany receivables also declined to N3.596 million, a 97.69% decrease when compared to N156.264 million achieved in Q4 2021.

The company disclosed this in its unaudited financial statement released on Tuesday and obtained by Investors King.

Operating profit stood at N8.034 billion in the quarter, up from N2.319 billion posted in the same quarter of 2021.

Profit after tax for the quarter grew by 310% from N1.546 billion to N6.341 billion.

However, a critical analysis of the entire 2022 financial statement shows that despite the strong Q4 result, weak Q1, Q2 and not-so-good Q3 dragged on the company’s overall performance in the year.

Cost of sales rose by 14.12% to N57.238 billion from N50.162 billion in 2021, against the decline recorded in the fourth quarter.

Marketing and administrative expenses grew to N18.282 billion, an increase of 20.90% from N15.121 billion in 2021.

Profit after tax increased by 75.77% to N5.993 billion from N3.409 billion.

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Nigerian Exchange Limited

MTN to Allot Incentive Shares to Qualified Shareholders

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MTN Nigeria - Investors King

MTN Nigeria has announced the execution of its incentive shares to qualified shareholders following its January 2022 sales.

In January 2022, MTN Nigeria sold 575 million ordinary shares held by MTN International (Mauritius) Limited to Nigerians with one ordinary share for every twenty ordinary shares purchased term. However, due to the surge in demand, the telecommunications company ended up allotting 661.3 million shares to investors.

In a statement signed by Uto Ukpanah, the Company Secretary, MTN Nigeria Communications, the incentive was capped at 250 ordinary shares.

He noted that eligible shareholders must hold a portion or all of the shares allotted to them from the offer as of 31 January, 2023 (the qualification date) subject to holding a minimum of 20 ordinary shares.

According to him, shareholders must have their names appear in the company’s register of members on the qualification date.

“Qualified shareholders will have their incentive shares credited to their CSCS accounts after the qualification date and obtaining the requisite regulatory approvals,” the document sighted on NGX said.

The offer saw 114,938 new CSCS accounts opened for representing new market participants, with roughly 76 per cent of successful applicants via digital platforms being women and 85 per cent below the age of 40.

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