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Nigerian Exchange Limited

Stock Investors Gain N1.45 Trillion Following Otedola Investment Report

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On Friday, the Nigerian Exchange Limited (NGX) closed the week with N1.45 trillion daily gain following the report that billionaire Femi Otedola had invested about N6 billion in Dangote Cement Plc.

The market capitalisation of all listed equities grew from N50.290 trillion on Thursday to N51.7 trillion on Friday.

Also, the NGX All-Shall Index appreciated to 94,538.12 from 91,896.97 recorded on Thursday.

A total of 34 stocks closed in the green against 35 that closed in the red while 46 others remained flat in 15, 255 deals.

BUA Cement and Seplat Energy led gainers with 10% growth to close at N148.50 and N2, 541.00 from their previous prices of N135.00 and N2, 310.00 per share, respectively.

May and Baker, Dangote Cement, and Honeywell Flour Mills followed with 9.99, 9.98%%, and 9.96% gain in share prices.

On the other hand, Lasaco Assurance led decliners with 9.85% off its share price to close at N2.47 from the previous N2.74 per share.

C&I Leasing, Mutual Benefit Assurance, and Nigeria Aviation Handling Company (NAHCO) completed the list of decliners with 9.82%, 9.41%, and 9.38% drop in their share prices.

On the volume index, Veritas Kapita Assurance traded 80.073 million shares valued at N59.6 million in 317 deals followed by Transcorp with 78,742 million shares worth N1.4 billion traded by shareholders in 1,401 deals.

Jaiz Bank traded 35.774 million in 500 deals valued at N129.886 million.

On the value index, Zenith Bank traded equities worth N1.551 billion in 471 deals followed by Transcorp with equities worth N1.519 billion in 1410 deals.

UBA traded stocks worth N1.080 billion in 663 deals.

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.

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Nigerian Exchange Limited

Stock Market Rises by N398 Billion Last Week as Investors Target Key Sectors

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In a holiday-shortened trading week ending on Friday, June 14, Nigeria’s equities market saw a notable increase, rising by 0.71% or N398 billion.

This boost came as investors focused their buying on key sectors such as oil & gas, banking, insurance, and consumer goods.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) increased from the previous week’s 99,221.14 points to 99,925.29 points, while the Market Capitalisation rose from N56.128 trillion to N56.526 trillion.

This surge pushed the year-to-date (YtD) return higher to 33.64%, with a month-to-date (MtD) increase of 0.62%.

Leading the sector gains was the NGX Oil & Gas Index, which jumped by 5.28%, reflecting robust investor interest in the sector.

The NGX Banking Index followed with a 3.63% rise, demonstrating confidence in the financial sector.

Similarly, the NGX Insurance Index climbed by 3.42%, and the NGX Consumer Goods Index saw a 1.05% increase. The NGX Industrial Index also edged up slightly by 0.27%.

This upward movement in the stock market comes amid a backdrop of cautious optimism.

The holiday-shortened trading week provided a condensed period for trading, yet investors were keen to seize opportunities, particularly in sectors that have shown resilience and potential for growth.

Analysts suggest that the targeted investments in these key sectors indicate a strategic approach by investors to balance portfolios and capitalize on sectors poised for growth.

The oil & gas sector, in particular, has been buoyed by fluctuating global oil prices and local policies aimed at boosting production and refining capacity.

The banking sector’s performance reflects ongoing reforms and the potential for increased financial activities as the economy continues to stabilize.

The rise in the stock market is a positive signal for Nigeria’s economic outlook, indicating renewed investor confidence.

However, experts caution that sustained growth will depend on continued economic reforms, political stability, and global market conditions.

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Nigerian Exchange Limited

Equity Market Rebounds by N144bn, Led by Nigerian Breweries and NEM Insurance

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The Nigerian equity market surged by N144 billion on Thursday, largely on the strong performances of key players like Nigerian Breweries and NEM Insurance.

This recovery comes after the market experienced a dip earlier in the week.

The market indices closed with the All Share Index (ASI) rising by 0.2% to settle at 99,832.25 points, while market capitalization increased to N56.47 trillion.

Despite lower trading volumes and values compared to previous sessions, the market saw increased activity in terms of the number of deals, which rose by 20% to 9,686.

Market Activity and Performance

Trading on Thursday resumed following the Democracy Day holiday, with 502.6 million shares exchanged in various deals valued at N8.65 billion.

The bullish trend was evident with 30 gainers outnumbering 18 losers, highlighting the positive sentiment that dominated trading.

Top Gainers and Losers

Nigerian Breweries emerged as a top performer with a significant 10% increase in its share price to close at N31.90. Unity Bank followed closely with a 9.91% gain, closing at N1.22 per share, while NEM Insurance recorded a 9.77% increase, ending the trading session at N9.55 per share.

Conversely, Ecobank Transnational led the losers’ chart with a 9.92% decline, closing at N21.35 per share. Daar Communications and C&I Leasing also experienced losses, shedding 8.77% and 7.14% respectively.

Trading Insights

Zenith Bank emerged as the most traded stock by volume, with 71.2 million shares exchanged, followed by AIICO Insurance with 67.3 million shares and Access Holdings with 58.5 million shares.

The trading activities were spread across various sectors, with notable gains observed in the insurance, banking, pension, and consumer goods industries.

Market Outlook

The rebound in the equity market reflects renewed investor confidence following recent downturns. Analysts anticipate continued volatility amid global economic uncertainties but remain optimistic about the resilience of Nigerian stocks in the long term.

Overall, the market’s recovery by N144 billion underscores the dynamism of Nigeria’s financial landscape and the strategic positioning of key market players like Nigerian Breweries and NEM Insurance in driving positive market sentiment and performance.

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Nigerian Exchange Limited

Nigerian Equity Market Sees N92.32bn Loss Amid Declines in Key Stocks

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The Nigerian equity market experienced a significant downturn on Tuesday, losing N92.32 billion in market value.

This decline was largely driven by drops in the share prices of key companies, including National Salt Company, Thomas Wyatt Nigeria, and May and Baker Nigeria.

The market capitalisation and the All-Share Index (ASI) decreased by 0.16 per cent, closing at N56.36 trillion and 99,630.51 points, respectively. This downturn affected the year-to-date return, which fell from 33.5 per cent to 33.24 per cent.

Despite the overall market decline, market breadth remained positive, with 29 stocks advancing against 19 that declined, across 8,064 deals. This indicates a mixed sentiment among investors, with some stocks seeing substantial gains.

Key Gainers and Losers

Total Nigeria led the list of gainers with a 9.98 percent increase to close at N388.90. Presco followed closely with a 9.97 percent rise to N323.30, and UPDC leveraged a 9.92 percent gain to end the day at N1.33.

Conversely, National Salt Company recorded a significant drop of 9.91 percent to close at N36.80. Thomas Wyatt Nigeria saw a 9.66 percent decrease to N1.59, and May and Baker Nigeria fell by 7.13 percent to close at N5.60.

Trading Volume Leaders

In terms of trading volume, Fidelity Bank led the market with 293.18 million shares exchanged in 340 deals. Nigerian Breweries followed, trading 101.584 million shares in 145 deals, reflecting strong investor interest in these companies.

Market Dynamics

The losses come on the heels of a robust performance on Monday, where the equity market gained N323 billion, buoyed by appreciations in stocks like Flour Mills Nigeria, Total Nigeria, and Access Holding.

The contrasting performance over two consecutive days underscores the volatility in the market.

Investor Sentiment

The decline in the equity market highlights the fluctuating investor sentiment influenced by various macroeconomic factors and corporate performance. Despite the losses, the positive market breadth indicates underlying resilience, as a larger number of stocks posted gains than losses.

Economic Context

The broader economic environment continues to pose challenges, with inflationary pressures and currency devaluation impacting investor confidence. However, strategic moves by companies and expectations of economic reforms provide some optimism for market recovery.

Outlook

Analysts suggest that the market could see further fluctuations in the short term, with investor focus likely to remain on corporate earnings reports and economic policy developments. The ability of companies to navigate the current economic landscape will be crucial in determining future market performance.

As the market adjusts to these dynamics, stakeholders remain hopeful that strategic investments and economic reforms will foster a more stable and growth-oriented environment for the Nigerian equity market.

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