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Investors Lose N1bn as All-Share Index Dips Slightly to 102,106.31 Points

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In the latest trading session on the Nigerian Exchange, investors faced a minor setback as the All-Share Index (ASI) experienced a slight dip, resulting in a loss of N1 billion in market value.

The ASI depreciated by 0.002 percent to settle at 102,106.31 points at the close of trading.

Trading activities reflected a subdued atmosphere as market participants exercised caution amid prevailing economic conditions and global uncertainties.

The decline in market capitalization was notable, falling to N55.87 trillion by the session’s end.

Volume of trade observed a significant slowdown, with 341.92 million units exchanging hands compared to the previous session’s 494.19 million units.

Similarly, the value of traded units witnessed a decline of 15.68 percent, amounting to N6.41 billion.

The number of trades also saw a notable decrease, totaling 9,665 deals, down by 17.82 percent from the previous trading day, extending the trend of declining trading activity.

Market breadth, which measures the sentiment of investors, remained negative with 19 gainers and 36 losers.

Among the gainers, Meyer Plc led the pack with a 10 percent increase in share price, closing at N5.72. Tripple G and Juli Plc followed suit with appreciations of 9.84 percent and 9.09 percent, respectively.

Conversely, AIICO Plc recorded the most significant decline among losers, with its shares depreciating by 9.92 percent to close at N1.18. Cadbury Nigeria Plc and Guinea Insurance Plc also experienced notable dips in their share prices, falling by 9.50 percent and 8.93 percent, respectively.

Overall, Transcorp Plc, Guaranty Trust Holding Company Plc, and FBN Holdings emerged as the volume and value drivers, shaping the day’s market trend.

Investors continue to monitor market dynamics closely amid evolving economic conditions and regulatory developments.

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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Bonds

Federal Government Falls Short: Raises N1.5tn at February Bond Auction

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The Federal Government’s February bond auction fell short of its target as it raised N1.5 trillion instead of the planned N2.5 trillion.

The Debt Management Office (DMO) announced this shortfall in a press release on Tuesday. The auction included bonds maturing in 2031 and 2034, with a combined offering of N2.5 trillion.

Despite the lower-than-expected outcome, the DMO highlighted significant investor interest with total bids reaching N1.9 trillion, the highest recorded in any single FGN Securities Auction.

The 2031 bond received allotments totaling N873.53 billion, while the 2034 bond saw allotments amounting to N621.38 billion, making for a total allotment of N1.495 trillion.

The government’s decision to raise funds through bonds reflects its ongoing efforts to meet financing needs and attract both local and foreign investors.

However, the shortfall indicates a potential mismatch between the government’s funding requirements and investor appetite.

While the auction outcome signifies continued investor confidence in Nigerian securities, it also underscores the importance of closely monitoring government borrowing and fiscal management strategies to ensure sustainable debt levels and investor trust in the market.

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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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