Nigerian Exchange Limited

Nigerian Stock Market Dips as Weak Momentum Drains N39 Billion from Investors

Published

2 months ago

September 25, 2023

The Nigerian stock market experienced a downturn on Friday as the local bourse closed negatively by 0.11% week-on-week, causing investors to lose N39 billion.

This drop in market performance was primarily attributed to weak market momentum.

Both the market capitalization and the Nigerian Exchange Limited All Share Index ended trading lower at N36.847 trillion and 67,324.59 points, respectively, compared to the previous week’s figures of N36.886 trillion and 67,395.74 basis points.

Despite the overall decline, the total turnover of shares showed an increase as 3.911 billion units worth N30.38 billion were traded in 38,536 deals, against a total of 2.933 billion shares valued at N47.45 billion that were exchanged in 44,654 deals.

The Financial Services Industry led in terms of volume traded with 2.774 billion shares valued at N15.24 billion while the Oil and Gas Industry followed with 438.508 million shares worth N5.20 billion, and the ICT Industry ranked third with 294.470 million shares valued at N4.447 billion.

The Insurance sector emerged as the top gainer during the week with a 3.34% increase, followed by Consumer goods (+2.98%), Banking (+0.61%), and Oil & Gas (+0.56%).

In contrast, the Industrial Goods sector saw a 4.80% decline, primarily due to a decrease in Dangote Cement’s share price.

The week saw 48 equities appreciating in value, 40 equities depreciating, and 67 remaining unchanged. Sunu Assurances topped the gainers’ chart with a 32.91% increase in share price, followed by Ellah Lakes Plc (+28.79%) and E-Tranzact International Plc (+28.57%).

Tantalizers led the losers’ table with a 21.05% dip, followed by Guinea Insurance (-20.69%) and McNichols (-13.33%).

Analysts expect mixed sentiments in the market for the coming week, with positive momentum potentially offset by profit-taking activities. The uncertainty is expected to be fueled by half-year earnings reports and continued portfolio reshuffling in preparation for the quarter-end reporting season.

Investors are advised to stay vigilant and adapt to market dynamics as they navigate these challenging times.

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Nigerian Exchange Limited

Nigerian Stock Exchange Bounces Back, Gains N132 Billion in Market Cap

Published

13 hours ago

November 30, 2023

Investors King

The Nigerian Exchange Limited rebounded on Wednesday with the market capitalization surging by N132 billion.

This uptick was propelled by the positive performance of key stocks, including Seplat Energy (+10%), Meyer Plc (+9.79%), Sunu Assurance (+9.56%), Nestle (+9.52%), and Consolidated Hallmark Holdings Plc (+9.24%).

The All-Share Index closed rose by 0.34% to 71,283.34 points, reflecting investors’ optimistic sentiment, particularly in medium and large-cap stocks with solid fundamentals while the market capitalization increased to N39.007 trillion.

Despite a decline in total deals and volume by 19.14% and 32.55% to 6,579 deals and 360.60 million units respectively, the total value for the day increased by 17.64% to N6.61 billion.

Among the gainers, Seplat, Meyer, Sunu Assurance, Nestle Plc, and Consolidated Hallmark Holdings Plc stood out, closing at N2.310, N3.59, N1.49, N1.150, and N1.30 per unit, respectively, after gains ranging from 10% to 9.24%.

The losers’ chart was led by Guinea Insurance, down 10%, followed by Omatek (-9.88%), Abbey Mortgage Bank (-9.68%), Neimeth Pharma (-9.45%), and Tantalizer (-8.62%).

Performance across sectors was predominantly bullish, with the Insurance, Consumer Goods, Oil/Gas, and Industrial Goods indexes recording notable advancements of 1.17%, 0.89%, 6.06%, and 0.01%, respectively.

However, banking stocks emerged as the only laggard for the day, declining by 0.56%.

GT Bank (GTCO) dominated trading activities, emerging as the most traded security in terms of volume and value, with 56.91 million units worth N2.19 billion traded in 261 deals.

This positive momentum signals a renewed fervor in the Nigerian stock market.

Nigerian Exchange Limited

Market Sheds N132 Billion as Union Bank Bows Out from NGX Official List

Published

3 days ago

November 28, 2023

Investors King

The official delisting of Union Bank of Nigeria from the Nigerian Exchange Limited (NGX) on Monday triggered a notable N132 billion loss from the market capitalization.

NGX Regulations Limited, the regulatory arm of the Nigerian Exchange Group, confirmed the delisting in a notice to trading license holders.

Union Bank’s shares were suspended on November 14, leading to the delisting, which resulted in a market cap loss.

On its last day on the NGX Daily Official List, Union Bank had a market cap of N193.65 billion, with shares closing at N6.65 per unit.

Titan Trust Bank Limited, Union Bank’s core investor, had earlier announced plans to acquire minority shareholders’ shares, leading to the delisting.

Despite the delisting impact, the All-Share Index closed positively at the end of Monday’s trading, rising by 0.17% or 123.33 points to 71,353.81.

However, the market cap closed at N39.040 trillion, N132 billion lower than the N39.172 trillion recorded on the previous Friday.

Key performers in the market included AccessCorp, United Bank for Africa, Zenith Bank Plc, and Universal Insurance Plc.

Positive investor sentiments resulted in 32 gainers and 20 losers. Notable gainers included First Bank of Nigeria Holding, John Holt, and Tantalizer, each gaining 10%.

ETranZact led the losers’ chart with a 9.09% dip, and Unity Bank, amidst reported business combination talks with Providus Bank, landed on the losers chart with a 9.24% loss.

The volume of transactions on the NGX slightly increased to 746.67 million units from 582.77 million units traded on Friday.

Banking stocks, including AccessCorp, UBA, and Zenith Bank, were the major drivers of the day’s trend, accounting for volume and value in the market.

Nigerian Exchange Limited

Nigerian Stock Market Records Marginal Decline, MTN and Dangote Sugar Lead Losers

Published

1 week ago

November 23, 2023

Investors King

The Nigerian Exchange Limited witnessed a marginal downturn as market capitalization slipped by N35 billion on Wednesday.

The All-Share Index and Market Capitalization both depreciated by 0.09% to close at 71,003.98 points and N39.047 trillion, respectively.

Despite this dip, market breadth remained positive with 36 gainers and 15 losers.

Major contributors to the decline included MTN Nigeria (-0.63%), Dangote Sugar (-1.64%), Lafarge Africa Plc (-1.34%), United Bank for Africa (-0.24%), and FBN Holdings (-4%).

Gainers were led by RT Briscoe, Daar Communications, and Unity Bank, each posting a 10% gain. Meanwhile, MeCure Industries, Multiverse, and Secure Electronic Technology saw increases of 9.96%, 9.82%, and 9.52%, respectively.

On the downside, C&I Leasing, Prestige Assurance, International Breweries Plc, UPDC Real Estate Investment Trust, and FBN Holdings recorded losses of 7.58%, 7.55%, 5.56%, 4.60%, and 4%, respectively.

Sectoral performance varied, with the Banking and Insurance sectors posting marginal gains of 0.19% and 0.75%.

In contrast, the Consumer Goods and Industrial Goods sectors experienced losses of 0.19% and 0.08%, while the Oil/Gas index remained unchanged.

Market activity showed improvement, with total deals rising by 1.95% to 6,677 trades. The total traded value for the day surged by 128.85% to N7.37 billion, although the total volume declined by 12.81% to 428.44 million units.

Veritaskap led in trading volume, while MTN Nigeria dominated in terms of value, amounting to N2.81 billion.

The fluctuation in market indices underscores the dynamic nature of the Nigerian stock market, influenced by both local and global economic factors.

Investors are carefully navigating these shifts to optimize their portfolios in a constantly evolving market landscape.