Nigerian Exchange Limited

Banking Stocks Top Volumes as ASI Appreciates by 1.51% Week-on-Week

The All-Share Index appreciated by 1.51% in the week ending May 26th, 2023 as the Nigerian stock market ended the week in the green.

Published

1 year ago

May 29, 2023

Bukola Rasheed

The All-Share Index appreciated by 1.51% in the week ending May 26th, 2023 as the Nigerian stock market ended the week in the green.

This is in accordance with the data available on the Nigerian Exchange Group’s weekly stock market report.

The benchmark index, ASI, dropped from 52,187.93 points at the end of the previous week to 52,973.88 points this week, while the market capitalization was N28.845 trillion at the end of the week. As a result, the Nigerian stock market has had a positive month-to-date performance of 1.09% and a positive year-to-date gain of 3.36%.

The NGX Industrial Goods and NGX Growth indexes depreciated by 0.70% and 1.33%, respectively, while the NGX ASeM and NGX Sovereign Bond indices were flat. All other indices ended higher.

Investors traded 1.963 billion shares worth N33.899 billion in a total of 30,827 trades this week, compared to 3.029 billion shares worth N33.626 billion that changed hands in a total of 29,505 deals the previous week.

With 1.463 billion shares worth N18.028 billion moved in 15,593 deals, the Financial Services Industry dominated the activity chart in terms of volume, contributing 74.51% and 53.18%, respectively, to the overall stock turnover volume and value. The Conglomerates Industry came in second with 1,590 deals totaling 111.180 million shares for N371.360 million. With 4,641 transactions totaling 106.594 million shares worth N2.544 billion, the consumer goods industry came in third.

Trading volume in the top three stocks, United Bank for Africa Plc, Access Holdings Plc, and Zenith Bank Plc, totaled 800.611 million shares worth N11.751 billion in 7,351 deals, accounting for 40.78% and 34.66%, respectively, of the total equity turnover volume and value.

During the week, Sixty (60) equities appreciated in price during the week higher than forty-four (44) equities in the previous week. Twenty-one (21) equities depreciated in price lower than twenty-seven (27) in the previous week, while seventy-five (75) equities remained unchanged, lower than eighty-five (85) recorded in the previous week.

The Bond market saw a total of 12,837 units valued at N12.608 million traded during the week in 16 deals compared with a total of 126,110 units valued at N130.953 million transacted in previous week in 18 deals.

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Nigerian Exchange Limited

Investors’ Profit Taking Chip Off N187bn From Nigerian Stock Market

Published

9 hours ago

October 3, 2024

Iyanuoluwa Martins

Nigerian Exchange Limited - Investors King

Profit-taking weakened the Nigerian Exchange Limited (NGX) by 0.33 percent on Wednesday as sell-offs persisted in 32 stocks.

As a result of this, the NGX market capitalisation of the stock market lost N187 billion to close at N56.448 trillion from N56.635 trillion.

The All-Share Index (ASI) also shed 0.33 percent or 327 points to close at 98,232.39, against 98,558.79 reported on Monday. The market didn’t trade on Tuesday (October 1) due to the 64th Independence Day celebration.

Investors King analysis of the market activities showed trade turnover settled lower, relative to the previous session, with the value of transactions down by 92.43 percent.

A total of 425.76 million shares valued at N8.45 billion were exchanged by investors in 11,954 deals, in contrast to 1.86 billion shares valued at N111.58 billion were exchanged in 10,583 deals posted previously.

Market breadth also closed negative with 32 losers and 26 gainers.

On the losers’ chart, Ellah Lakes led by 9.93 percent to close at N3.99 per share, while International Breweries led the gainers’ chart by 9.98 percent to close at N4.41 per share.

International Breweries emerged as the highest price gainer of 9.98 percent to close at N4.41, per share.

Meyer followed with a gain of 9.94 percent to close at N8.52, while Veritas Kapital Assurance increased by 9.93 percent to close at N1.66, per share.

Tripple Gee and Company rose by 9.91 percent to close at N4.99, while Deap Capital Management & Trust appreciated by 9.84 percent to close at N1.34, per share.

For the gainers, Ellah Lakes led others on the losers’ chart with 9.93 percent to close at N3.99, per share. Caverton Offshore Support Group followed with a decline of 9.92 percent to close at N2.18, while ABC Transport shed 9.57 percent to close at N1.04, per share.

Livestock Feeds depreciated by 9.03 percent to close at N2.72, while Consolidated Hallmark Holdings dipped by 7.24 percent to close at N1.41, per share.

On indices performance, the NGX Banking Index dropped by two percent and NGX Oil & Gas Index was down by 0.1 percent, while the NGX Consumer Goods Index added 1.1 percent and NGX Insurance Index appreciated by one percent. The NGX Industrial Goods index closed flat.

Nigerian Exchange Limited

Stock Investors Gain N131 Billion on Tuesday

Published

2 weeks ago

September 18, 2024

Samed Olukoya

Nigeria’s equities market opened the holiday-shortened trading week in green as investors bought banking and consumer goods stocks despite record profit taking in insurance, industrial, oil & gas stocks.

“Looking forward, the equities market is expected to retain its buy interest as investors cherry-pick undervalued stocks. However, given the sentiment that rates might have peaked in the fixed income and money markets and investors locking in on current rates, we expect some bearish undertone to persist in the equities market,” according to United Capital research analysts.

The analysts said the bulls “will remain incentivised to persist in bargain hunting, given the tremendous mid-long-term opportunities in the equities market. Fund managers and businesses may begin to entertain mid-long-term (≥6 months) investment objectives, cherry-picking only sound equities with strong fundamentals and ongoing corporate actions. This strategy will maximise market opportunities, thereby optimising portfolio returns”.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation appreciated by 0.23 percent and N131billion from preceding day’s 97,456.62 points and N56.002 trillion respectively to 97,685.63 points and N56.133 trillion.

The market’s year-to-date (YtD) return rose to 30.64 percent.

According to Meristem research analysts, “While we expect subdued participation in the Nigerian equities market this week, we anticipate that buying activity will outweigh profit-taking. Our outlook is hinged on the belief that no major negative catalysts are expected to shift market direction this week. We anticipate that investors will continue selective buying, seeking opportunities across various sectors.

“Additionally, macroeconomic developments and corporate actions from companies could stimulate moderate buying interest in the market. We also do not foresee a significant shift towards the fixed-income market as yields have started to stabilize. However, we acknowledge the potential for profit-taking as short-term investors may look to capitalize on recent gains. Overall, we expect the market to close in the green zone this week,” Meristem analysts said.

Nigerian Exchange Limited

Nigeria’s Equities Market Gains 0.32% Boosted by Nestle, Flourmills, and FBN Holdings

Published

3 weeks ago

September 13, 2024

Investors King

Nigeria’s equities market rose by 0.32 percent or N178billion on Thursday, thanks to Nestle, Flourmills and FBN Holdings that led the league of major advancers on the Lagos Bourse.

FBN Holdings increased from N24 to N26.40, adding N2.40 or 10percent. Caverton rose from N2.10 to N2.31, up by 21kobo or 10percent.

Flour Mills moved from N45.05 to N49.55, up by N4.50 or 9.99percent. RT Briscoe increased from N3.02 to N3.32, down by 30kobo or 9.93 percent, while Nestle rallied from N810 to N890, N80 or 9.88percent.

At the close of trading, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and equities market capitalisation increased from 96,715.04 points and N55.575 trillion respectively to 97,025.17 points and N55.753 trillion.

Access Holdings, FBN Holding, UBA, Caverton and Zenith Bank shares were most trading stocks. In 9,615 deals, investors exchanged 390,546,861 shares valued at N7.974billion.

Ahead of Thursday’s trading, analysts said broader market sentiment will remain balanced, with risk-averse investors maintaining a cautious stance ahead of any major corporate earnings announcements.