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Nigerian Exchange Limited

Nigerian Stock Market Rebounds with N25.72bn Gain, Led by Insurance Stocks

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The Nigerian Exchange Limited (NGX) rebounded on Tuesday from the previous day’s losses with a gain of N25.72 billion.

This rebound was primarily driven by significant appreciation in the shares of Cornerstone Insurance, Jaiz Bank, Wapic Insurance, and 19 other stocks.

The market capitalisation rose by 0.05 percent to close at N56.61 trillion, while the All Share Index (ASI) increased to 100,067.77 points.

Insurance stocks were at the forefront of this recovery. Cornerstone Insurance led the gainers’ chart with a 10 percent increase to settle at N2.09 per share.

Jaiz Bank followed closely with a 9.95 percent rise to N2.21, and Wapic Insurance saw a 9.59 percent boost, ending the day at N0.80 per share.

Despite the overall positive trend, the market witnessed bearish activity, with 22 stocks recording gains and 24 stocks registering losses.

Leading the losers’ chart were RT Briscoe, which suffered a 9.86 percent decline to close at N0.64, Cutix Plc with a 6.82 percent drop to N4.01, and C & I Leasing Plc, which fell by 6.25 percent to N3.00.

In terms of trading volume, Universal Insurance recorded the highest activity with 61.52 million traded shares. AIICO Insurance followed with 31.72 million shares, and United Bank for Africa (UBA) saw 25.85 million shares traded.

Sectoral performance was mixed, with three out of the five tracked indices closing in the red. The NGX Consumer Goods index fell by 0.34 percent, NGX Oil/Gas by 0.03 percent, and NGX Industrial Goods by 0.01 percent.

However, the NGX Banking index posted a 0.79 percent increase, driven by share price gains in major banks such as AccessCorp, Zenith, UBA, and GTCO. Additionally, the NGX Insurance index recorded a 1.99 percent gain.

Market activity was robust, with the total volume and value of trades rising by 33.11 percent and 10.86 percent, respectively, amounting to 365.64 trades worth N4.12 billion.

However, the total number of deals decreased by 14.31 percent, totaling 8,665 trades.

This recovery follows a bearish start to the week and month on Monday, where the NGX-ASI fell by 0.4 percent to 100,020.83 points due to sell pressure on major stocks such as Zenith Bank, UBA, and Nigerian Breweries.

The positive performance of insurance and banking stocks played a crucial role in reversing the market’s fortunes.

Investors remain hopeful that this upward trend will continue, bolstered by strong performances in these sectors.

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

NGX Rebounds with N263bn Gain as Small and Mid-Cap Stocks Surge

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The Nigerian Exchange Limited (NGX) recovered on Thursday amid the surge in strong investor demand for small and mid-cap stocks.

The market capitalisation rose by N263 billion to N56.91 trillion.

The All-Share Index climbed by 0.47%, closing at 100,503.21 points, reflecting a solid buying interest across various sectors.

Despite the market’s overall positive performance, trading activity was subdued with a 64.3% decrease in average daily volume to 392.8 million units.

However, the number of deals increased by 3.4% to 9,013, while the traded value declined by 17.3% to N8.33 billion.

Guaranty Trust Holding Company led the volume trades, with 39.75 million shares worth N1.80 billion across 663 deals.

Meanwhile, Airtel Africa dominated in value, with trades worth N2.25 billion in just 34 transactions.

Sector performance was mixed. Gains were recorded in the oil and gas, consumer goods, and industrial goods sectors, rising by 0.19%, 0.07%, and 0.01%, respectively.

Notable stocks included Airtel Africa, Eterna Plc, Oando, and NASCON Allied Industries.

Conversely, the insurance and banking sectors faced losses, declining by 2.35% and 2.28%.

Top gainers of the day were United Capital, Oando, and Africa Prudential, while Linkage Assurance and Veritas Kapital led the decliners.

This rebound highlights investor confidence in Nigeria’s equities market, with opportunities emerging in small and mid-cap stocks.

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Nigerian Exchange Limited

Equities Market Dips 0.04% as Q2 Earnings Hit NGX

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Nigeria’s equities market experienced a slight decline of 0.04% on Wednesday ahead of the second quarter (Q2) financial results.

At the close of trading on the Nigerian Exchange Limited (NGX), the All Share Index (ASI) fell from the previous day’s high of 100,075.59 points to 100,032.32 points.

Similarly, the equities market capitalization decreased from N56.670 trillion to N56.645 trillion.

Jaiz Bank, Cutix, Zenith Bank, Universal Insurance, and FCMB Group were among the most actively traded stocks.

Investors exchanged 1,099,300,929 shares worth N10.076 billion across 8,720 deals.

Several stocks dominated the sell-side, including RT Briscoe, which fell from 70 kobo to 66 kobo, a 5.71% decrease.

FTN Cocoa dropped by 4.44%, while Tantalizer, Neimeth, and Consolidated Hallmark Holdings also saw declines.

The market’s year-to-date (YtD) positive return decreased to 33.78%. While this month has seen a marginal drop of 0.03%, the week still shows an increase of 0.36%.

The dip reflects investor reactions to the ongoing release of corporate earnings for Q2. As companies disclose their financial results, market participants are adjusting their positions accordingly.

As more Q2 financials are released, market volatility is expected. Investors are closely monitoring earnings reports to guide their investment strategies.

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Nigerian Exchange Limited

Nigeria’s Equities Market Gains 0.11%, Adds N62 Billion in Value

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The Nigerian equities market posted a 0.11 percent gain on Tuesday as increased buy-side actions boosted the market’s value by N62 billion.

This positive movement reflects renewed investor confidence and activity in the market.

Leading the charge were stocks like United Capital, UACN, and Cutix. Investors engaged in 8,151 deals, exchanging 368,392,413 shares worth N7.424 billion.

Among the top advancers, United Capital saw a significant rise from N30 to N33, adding N3 or 10 percent.

Cutix also performed well, climbing from N5.08 to N5.58, an increase of 50 kobo or 9.84 percent.

Sunu Assurances and Cornerstone Insurance were other notable gainers, with Sunu Assurances increasing from N1.29 to N1.39, adding 10 kobo or 7.75 percent, and Cornerstone moving from N1.95 to N2.10, up 15 kobo or 7.69 percent.

UACN also saw a substantial gain, rising from N14.15 to N15.20, an addition of N1.05 or 7.42 percent.

The market’s positive return year-to-date (YtD) now stands at 33.84 percent, with a marginal increase of 0.02 percent for the month. So far this week, the market has grown by 0.41 percent.

Key stocks such as Zenith Bank, Access Holdings, GTCO, Jaiz Bank, and UBA were actively traded, indicating strong investor interest.

At the close of trading on the Nigerian Exchange Limited (NGX), the All Share Index (ASI) and equities Market Capitalisation rose from the previous day’s low of 99,966.28 points and N56.608 trillion to 100,075.59 points and N56.670 trillion, respectively.

This uptick in market activity and value reflects growing optimism among investors, buoyed by positive corporate earnings and macroeconomic indicators.

As Nigeria’s market continues to evolve, stakeholders are hopeful for sustained growth and stability in the coming months.

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