Nigerian Exchange Limited
Nigerian Stock Market Records Slight Gain of N8bn on Thursday
The Nigerian stock market recorded a marginal gain of N8 billion on Thursday, February 17, 2023, as the market capitalisation rose slightly to N29.696tn at the close of trading on the Nigerian Exchange Limited (NGX).
The All-share Index also appreciated by 0.02 per cent to close at 54,520.2 points, Investors King reports.
The positive trading session was led by TrippleG, which led 17 gainers including RTBriscoe, Japaul Gold, LivingTrust, VeritaSkap, Honyflour, and Geregu (BLS).
However, the losers’ table was topped by Courtville, followed by CWG, the NGX Group, Wapic, Fidelity Bank, and Transcorp at the end of Thursday’s trading session.
A total of 125,860,855 million shares were traded in 2,670 deals, estimated at N3.602bn. Zenith Bank emerged as the most active stock with 8,441,601 million of its shares worth N214,56m traded in 180 deals.
GTCO’s shares of 19,173,469 million units, priced at N481.722m, exchanged hands in 175 transactions. MTN Nigeria had 318,974 shares valued at N77.379m traded in 151 deals. WAPCO also traded 4,158,679 million shares estimated at 108.96 million in 149 transactions.
The slight gain recorded in the stock market is a reflection of the continuous efforts by the government and private sector to boost the economy through various measures. The stock market remains a viable investment option for individuals and businesses looking to grow their wealth and make profitable returns.
Investors and market analysts have expressed optimism about the future of the Nigerian stock market, as it continues to attract local and foreign investors, with more companies getting listed on the exchange. As such, investors are advised to take advantage of the current positive trading momentum to position themselves for future gains.
Nigerian Exchange Limited
Nigerian Stock Market Dips as Uncertainty Surrounding Nigerian Economy Deepens Amid Cash Crunch
The Nigerian stock exchange extended its decline by another N13 billion last week as a cash crunch amid high-interest rates dragged on economic activity.
The Central Bank of Nigeria (CBN) led monetary policy committee raised interest rates by 50 basis points to 18% despite Nigeria’s cash crisis, high unemployment rate and weak economic activity. The committee hinged its decision on the rising inflation rate and the need to lure foreign investors into the economy given that developed economies were doing the same.
During the week, stock investors exchanged 1.689 billion shares worth N11.066 billion in 14,019 deals, in contrast to a total of 853.745 million shares valued at N11.841 billion that exchanged hands in 18,543 deals in the previous week.
Breaking down key sectors, the healthcare industry led the activity chart with 1.086 billion shares valued at N1.627 billion traded in 267 deals. Therefore, contributed 64.32% and 14.70% to the total equity turnover volume and value, respectively.
The financial services industry followed with 379.556 million shares worth N4.547 billion in 6,711 deals. In third place was the conglomerates industry with a turnover of 89.526 million shares worth N131.231 million in 534 deals.
Neimeth International Pharmaceuticals Plc, Transnational Corporation Plc and United Bank for Africa Plc were the three most traded equities accounting for a combined 1.248 billion shares worth N2.347 billion that exchanged hands in 1,102 deals and contributed 73.89% and 21.21% to the total equity turnover volume and value, respectively.
The market value of listed equities decreased by N13 billion from N29.916 trillion recorded in the previous week to N29.903 trillion last week.
The NGX All-Share Index 0.04% or 22.86 index points to close the week at 54,892.53 index points, down from the 54,915.39 index points it closed in the previous week.
All other indices finished higher with the exception of NGX Main Board, NGX 30, NGX Insurance, NGX MERI Growth, NGX Consumer Goods and NGX Industrial Goods which depreciated by 0.30%, 0.16%, 0.53%, 0.58%, 0.74%, and 0.49% respectively while the NGX ASeM, NGX Oil and Gas, NGX Growth and NGX Sovereign Bond indices closed flat.
Twenty-eight equities appreciated in price during the week higher than nineteen equities in the previous week. Twenty-seven equities depreciated in price lower than forty-seven in the previous week, while one hundred and two equities remained unchanged, higher than ninety-one equities recorded in the previous week.
Nigerian Exchange Limited
Nigerian Stock Exchange Extends Gain on Wednesday, Posts 0.06% Gain
The Nigerian Exchange Limited (NGX) closed in the green on Wednesday after posting a N10 billion gain on Tuesday despite the increase in interest rates to 18% and the uncertainty surrounding the cash crunch.
On Wednesday, stock investors traded 134,150,558 stocks worth N1.330 billion in 2,479 transactions during the trading hours of Wednesday. Transcorp emerged as the most traded stock with 28,122,091 shares valued at N35,922,896.78. This was followed by UBA’s 21,231,993 shares worth N170,415,095.30.
Breaking down each sector’s performance, the bank sector shed 1 basis point with Wema Bank and Zenith bank closing in the red.
Consumer goods lost 12 basis points as Honey Flour and Vitaform post -2.22% and -1.06% decline. As expected, the oil and gas sector closed flat same as the industrial sector.
The exchange year-to-date return extended to 7.19% despite 14 stocks closing in the red against 9 stocks that posted gains.
The market value of listed equities rose to N29.927 trillion, representing an N18 billion gain from the N29.909 trillion it closed on Tuesday.
NGX All-Share Index grew by 0.06% from 54,906.65 index points on Tuesday to 54,936.11 index points on Wednesday. See other details below.
Top Five Gainers
|WAPIC||N 0.41||N 0.42||0.01||2.44 %|
|GTCO||N 24.60||N 25.20||0.60||2.44 %|
|LINKASSURE||N 0.45||N 0.46||0.01||2.22 %|
|LASACO||N 0.98||N 1.00||0.02||2.04 %|
|TRANSCORP||N 1.28||N 1.30||0.02||1.56 %|
Top Five Losers
|NCR||N 2.89||N 2.61||-0.28||-9.69 %|
|FTNCOCOA||N 0.29||N 0.27||-0.02||-6.90 %|
|JAPAULGOLD||N 0.30||N 0.28||-0.02||-6.67 %|
|CUTIX||N 2.22||N 2.11||-0.11||-4.95 %|
|CHIPLC||N 0.65||N 0.62||-0.03||-4.62 %|
Top Five Trades
Nigerian Exchange Limited
Nigerian Stock Market Rebounds on Tuesday as Investors Pocketed N10 Billion
After a period of bearish trends, the Nigerian Exchange Limited (NGX) rebounded on Tuesday to post a N10 billion gain.
The market capitalisation of all the listed equities grew by 0.03% to close the day at N29.909 trillion while the NGX All-Share Index expanded by the same 0.03% to 54,906.65.
Market sentiments were even as both gainers and losers had 12 equities each on their charts at the close of the day’s trading. However, Linkage Assurance, Wapic, and Champion led the gainers’ table, gaining 9.76 per cent, 7.89 per cent, and 4.26 per cent, respectively.
On the other hand, Ikeja Hotel, Cadbury, and UPL topped the losers’ table with 9.65 per cent, 5.83 per cent, and 4.76 per cent loss, respectively, in their share values.
In terms of the most traded stocks, Zenith Bank led with 11,964,640 shares worth N298.835m exchanged in 255 deals, followed by GTCO with 10,472,370 million shares worth N258.239m traded in 252 deals. MTN Nigeria was the third most traded stock with 421,619 of its shares valued at N98.138m.
The rebound of the Nigerian Exchange Limited signifies a positive outlook for investors. As Nigeria’s economy continues to recover from the pandemic’s effects, the stock market is poised to bounce back, providing lucrative investment opportunities for local and foreign investors alike.
It is important to note that investing in the stock market comes with risks and rewards, and it is advisable to seek professional advice before making investment decisions.
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