Connect with us

Nigerian Exchange Limited

Stock Investors Jump on Bank Stocks as Airtel Shed N507.350 Billion on Thursday

Published

on

Airtel Financial Results - Investors King

The Nigerian stock market recorded its first decline in 2023 on Thursday as Airtel Africa, the most capitalised company on the Nigerian Exchange Limited (NGX) lost 8.26% or N507.350 billion in market value.

Airtel Africa opened the day at N1635 a share with a N6.145 trillion market value but quickly dropped to N1500 a unit after a total of 198,659 shares were traded. This brings Airtel Africa’s market value to N5.637 trillion.

Activity level declined on Thursday as investors transacted a total of 138.716 million shares worth N1.828 billion, against a total of 265,725,890 shares worth N13.529 billion that exchanged hands in 4,156 deals on Wednesday.

A sectorial analysis showed that three of the four sectors closed in the green with the banking index rising by 88 basis points (bps) on the back of a 2.27% improvement in the value of Ecobank, a 1.87% gain in Zenith Bank and a 1.82% in Unity Bank.

Sterling Bank, UBA and Fidelity Bank closed in the red.

Similarly, the consumer goods index appreciated by 133 bps despite the negative close of Intbrew and Champion. The index was sustained by a 9.95% gain in Honey Flour, 4.21% in NB, 2.05% in Bua Foods and 0.41% in Cadbury.

Oil and Gas expanded by 9 basis points as Eterna closed higher at 2.56% while the industrial index closed flat.

NGX All-Share Index declined by 1.53% to 50,868.52 index points. The market capitalisation of all the listed stocks declined from N28.136 trillion it settled on Wednesday to close at N27.707 trillion on Thursday. See other details below.

Top Five Gainers

Symbols Last Close Current Change %Change
JOHNHOLT N 0.80 N 0.88 0.08 10.00 %
HONYFLOUR N 2.21 N 2.43 0.22 9.95 %
CWG N 0.92 N 1.01 0.09 9.78 %
UACN N 10.25 N 10.75 0.50 4.88 %
NB N 45.10 N 47.00 1.90 4.21 %

Top Five Losers 

Symbols Last Close Current Change %Change
PRESTIGE N 0.46 N 0.42 -0.04 -8.70 %
AIRTELAFRI N 1635.00 N 1500.00 -135.00 -8.26 %
UPL N 1.90 N 1.76 -0.14 -7.37 %
NPFMCRFBK N 1.69 N 1.57 -0.12 -7.10 %
ROYALEX N 1.10 N 1.03 -0.07 -6.36 %

Top Five Trades

Symbols Volume Value
STERLNBANK 29154292.00 41014111.47
GTCO 19945746.00 477768332.10
ACCESSCORP 11347840.00 99855158.75
FBNH 10993699.00 120967017.40
ZENITHBANK 6245860.00 152138255.60

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

NGX Rebounds with N263bn Gain as Small and Mid-Cap Stocks Surge

Published

on

stock - Investors King

The Nigerian Exchange Limited (NGX) recovered on Thursday amid the surge in strong investor demand for small and mid-cap stocks.

The market capitalisation rose by N263 billion to N56.91 trillion.

The All-Share Index climbed by 0.47%, closing at 100,503.21 points, reflecting a solid buying interest across various sectors.

Despite the market’s overall positive performance, trading activity was subdued with a 64.3% decrease in average daily volume to 392.8 million units.

However, the number of deals increased by 3.4% to 9,013, while the traded value declined by 17.3% to N8.33 billion.

Guaranty Trust Holding Company led the volume trades, with 39.75 million shares worth N1.80 billion across 663 deals.

Meanwhile, Airtel Africa dominated in value, with trades worth N2.25 billion in just 34 transactions.

Sector performance was mixed. Gains were recorded in the oil and gas, consumer goods, and industrial goods sectors, rising by 0.19%, 0.07%, and 0.01%, respectively.

Notable stocks included Airtel Africa, Eterna Plc, Oando, and NASCON Allied Industries.

Conversely, the insurance and banking sectors faced losses, declining by 2.35% and 2.28%.

Top gainers of the day were United Capital, Oando, and Africa Prudential, while Linkage Assurance and Veritas Kapital led the decliners.

This rebound highlights investor confidence in Nigeria’s equities market, with opportunities emerging in small and mid-cap stocks.

Continue Reading

Nigerian Exchange Limited

Equities Market Dips 0.04% as Q2 Earnings Hit NGX

Published

on

Stock - Investors King

Nigeria’s equities market experienced a slight decline of 0.04% on Wednesday ahead of the second quarter (Q2) financial results.

At the close of trading on the Nigerian Exchange Limited (NGX), the All Share Index (ASI) fell from the previous day’s high of 100,075.59 points to 100,032.32 points.

Similarly, the equities market capitalization decreased from N56.670 trillion to N56.645 trillion.

Jaiz Bank, Cutix, Zenith Bank, Universal Insurance, and FCMB Group were among the most actively traded stocks.

Investors exchanged 1,099,300,929 shares worth N10.076 billion across 8,720 deals.

Several stocks dominated the sell-side, including RT Briscoe, which fell from 70 kobo to 66 kobo, a 5.71% decrease.

FTN Cocoa dropped by 4.44%, while Tantalizer, Neimeth, and Consolidated Hallmark Holdings also saw declines.

The market’s year-to-date (YtD) positive return decreased to 33.78%. While this month has seen a marginal drop of 0.03%, the week still shows an increase of 0.36%.

The dip reflects investor reactions to the ongoing release of corporate earnings for Q2. As companies disclose their financial results, market participants are adjusting their positions accordingly.

As more Q2 financials are released, market volatility is expected. Investors are closely monitoring earnings reports to guide their investment strategies.

Continue Reading

Nigerian Exchange Limited

Nigeria’s Equities Market Gains 0.11%, Adds N62 Billion in Value

Published

on

stock - Investors King

The Nigerian equities market posted a 0.11 percent gain on Tuesday as increased buy-side actions boosted the market’s value by N62 billion.

This positive movement reflects renewed investor confidence and activity in the market.

Leading the charge were stocks like United Capital, UACN, and Cutix. Investors engaged in 8,151 deals, exchanging 368,392,413 shares worth N7.424 billion.

Among the top advancers, United Capital saw a significant rise from N30 to N33, adding N3 or 10 percent.

Cutix also performed well, climbing from N5.08 to N5.58, an increase of 50 kobo or 9.84 percent.

Sunu Assurances and Cornerstone Insurance were other notable gainers, with Sunu Assurances increasing from N1.29 to N1.39, adding 10 kobo or 7.75 percent, and Cornerstone moving from N1.95 to N2.10, up 15 kobo or 7.69 percent.

UACN also saw a substantial gain, rising from N14.15 to N15.20, an addition of N1.05 or 7.42 percent.

The market’s positive return year-to-date (YtD) now stands at 33.84 percent, with a marginal increase of 0.02 percent for the month. So far this week, the market has grown by 0.41 percent.

Key stocks such as Zenith Bank, Access Holdings, GTCO, Jaiz Bank, and UBA were actively traded, indicating strong investor interest.

At the close of trading on the Nigerian Exchange Limited (NGX), the All Share Index (ASI) and equities Market Capitalisation rose from the previous day’s low of 99,966.28 points and N56.608 trillion to 100,075.59 points and N56.670 trillion, respectively.

This uptick in market activity and value reflects growing optimism among investors, buoyed by positive corporate earnings and macroeconomic indicators.

As Nigeria’s market continues to evolve, stakeholders are hopeful for sustained growth and stability in the coming months.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending