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Investors Gain N1.12tn as Nigerian Stock Market Ends Week on Positive Note

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Trading activities in the Nigerian stock market ended the week with a resounding note of optimism as investors amassed gains of N1.12 trillion.

Both the Nigerian Exchange All-Share Index and market capitalization appreciated, gaining 1.97% and 2% to close at 104,421.23 points and N57.16 trillion, respectively.

Despite the two-day bearish trend that resulted in a combined loss of N1.93 billion, the strong financial reports released fueled the market rally in the week.

The resurgence of buying interest, particularly in banking stocks, propelled the market beyond the 104,000 thresholds, reflecting the confidence investors have in the market’s resilience and potential for growth.

However, the sectoral performance displayed a mixed picture for the week, with three out of five sectors experiencing declines.

Banking and insurance indexes closed lower with a decline of 4.52% and 4.07% respectively. This was attributed to price drops in key players like Guaranty Trust Bank, Zenith Bank, Royal Exchange, and NEM Insurance.

Conversely, the Industrial index closed the week in the green zone, recording a 6.36% week-on-week gain, fueled by increased prices and buying interest in Dangote Cement and BUA Cement.

The Consumer Goods Index also ended positively as it gained 1.30% on the back of upward price movements in Meyer Plc and McNichols.

With 3.893 billion shares worth N95.15 billion traded in 69,117 deals, the financial services industry led the activity chart, contributing significantly to the total equity turnover volume and value.

Notably, FBN Holdings Plc, Transnational Corporation Plc, and United Bank for Africa Plc emerged as the most active equities, accounting for a substantial portion of the trading volume and value.

The robust performance of the Nigerian stock market underscores investor confidence and resilience, signaling a promising outlook for the nation’s economy amidst evolving market dynamics.

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

Nigerian Exchange Returns to Red Zone, Equity Investors Lose N67bn

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The Nigerian Exchange plunged back into the red zone on Thursday as equity investors incurred N67 billion in losses.

The downward trend was primarily attributed to widespread sell-offs observed across key sectors, including banking, insurance, and consumer goods.

The All-Share Index closed the trading session with a decline of 0.12 percent to settle at 101,239.10 index points while the market capitalization closed lower at N55.40 trillion.

Despite a brief respite earlier in the week, the market failed to sustain its positive momentum.

Year-to-date returns moderated to 35.39 percent, reflecting the volatile nature of recent trading sessions.

Trading activities remained subdued with a 16.43 percent decrease in traded volume to 252.9 million units.

Similarly, total traded value declined by 24.54 percent to N4.94 billion, accompanied by a 15.83 percent dip in total deals to 7,248.

Market breadth leaned towards negativity, with 22 gainers overshadowed by 28 losers.

The decliners included notable companies like Daar Communications, Wema Bank, and PZ Cussons, which collectively contributed to the bearish sentiment prevalent in the banking, insurance, and consumer goods sectors.

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Nigerian Exchange Limited

Nigeria’s Equities Market Rebounds, Gains N165 Billion Amid Investor Optimism

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Nigeria’s equities market rebounded on Wednesday as gained N165 billion in value amid renewed optimism and strategic re-entry into undervalued stocks.

The recent downturn which plagued the market earlier in the week saw investors holding back amidst uncertainties surrounding fixed-income securities’ interest rates.

However, Wednesday’s rebound reflected a shift in sentiment as investors identified opportunities for lucrative returns in value stocks.

Key players such as BUA Cement and FBN Holdings spearheaded the market’s upward trajectory with notable gains observed across various sectors.

BUA Cement surged by 4.93% from N142.95 to N150 per share while FBN Holdings gained by 9.96% from N26.10 to N28.70 per share.

Despite these gains, Okomu Oil Palm experienced a decline with its share price dropping from N270 to N243, representing a 10% decrease.

The market’s positive performance defied earlier projections of a prolonged bearish trend. Analysts had anticipated a continuation of the subdued market activity due to prevailing uncertainties in the fixed-income segment.

Wednesday’s trading session saw increased activity, with investors exchanging 302,739,517 shares valued at N6.552 billion across 8,611 deals.

Active trading was observed in stocks such as FBN Holdings, Japaul Gold, Transcorp, Veritas, and GTCO.

The surge in the equities market reflects investors’ resilience and their confidence in the long-term prospects of Nigeria’s economy.

It also underscores the dynamic nature of the market, where strategic investments and timely interventions can yield substantial gains even in challenging times.

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Nigerian Exchange Limited

Honeywell Flour Mills, BUA Cement Lead Losers as Nigerian Market Dips N730bn

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The Nigerian equity market continued its downward spiral as Honeywell Flour Mills and BUA Cement emerged as the top losers.

The All-Share Index (ASI) declined by 1.30 percent to settle at 101,060.67 points while the market capitalization plummeted to N55.298 trillion, representing a decline of N730 billion in just two consecutive trading days.

The bearish trend which commenced on Monday persisted as investors grappled with mounting concerns over economic uncertainties and global market dynamics.

Honeywell Flour Mills led losers with a 10 percent decline to close at N3.60 per share. Followed closely by BUA Cement’s 9.98 percent of its share value to settle at N142.95.

PZ Cussons also experienced a notable dip, posting a 9.75 percent loss to close at N27.30 per share.

The persisting sell-offs predominantly affected medium to penny stocks, with only eight equities managing to record gains amidst 43 losses.

Market analysts attributed the performance to a combination of factors, including ongoing global economic uncertainties, currency devaluation concerns, and profit-taking activities by investors.

The decline in trading activity was evident as the total volume and value of trades witnessed significant declines, reflecting a cautious approach by investors amid the prevailing market turbulence.

Despite the challenges, industry experts urge investors to remain vigilant and adopt prudent investment strategies to navigate the unpredictable market terrain, emphasizing the importance of diversification and long-term investment perspectives in mitigating risks and preserving capital in volatile market conditions.

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