Nigerian Exchange Limited

Zenith Bank, UBA Lead Active Trades Amid Stock Market Slump

Published

1 month ago

August 6, 2024

Despite the gradual reopening of businesses across Nigeria as protests ease in Africa’s most populous nation, the equities market opened the new week on a negative note.

Shares of major financial institutions, including Zenith Bank and United Bank for Africa (UBA), were actively traded on the Lagos Bourse, but this activity was not enough to stave off a decline in the market.

On Monday, investors transacted 324,019,567 shares worth N6.217 billion in 9,738 deals.

However, these trades could not prevent the Nigerian Exchange Limited (NGX) All-Share Index and equities market capitalization from depreciating by 0.17 percent.

The NGX All-Share Index fell to 97,582.41 points from the previous trading day’s 97,745.73 points, while the market capitalization dropped to N55.404 trillion from N55.497 trillion.

Zenith Bank and UBA were among the top performers in terms of volume, reflecting investor interest and confidence in these financial giants.

However, the overall market sentiment remained cautious, reflecting the broader economic uncertainties and the lingering effects of the recent protests.

May & Baker experienced the most significant decrease, with its share price falling from N7.04 to N6.50, a loss of 54 kobo or 7.67 percent.

Chams followed closely, dropping from N2.20 to N1.98, a decline of 22 kobo or 10 percent. University Press also saw a significant decrease, with its share price declining from N2.42 to N2.18, losing 24 kobo or 9.92 percent.

The recent protests, which disrupted business activities across the country, have undoubtedly impacted investor sentiment.

Despite the easing of tensions and the gradual reopening of businesses, the market remains volatile.

Investors are still cautious, weighing the potential risks and rewards in an uncertain economic environment.

Analysts suggest that the current market downturn is reflective of broader economic challenges, including inflation, currency volatility, and regulatory uncertainties.

The Central Bank of Nigeria’s recent decision to unify the country’s foreign exchange market has also introduced new dynamics, influencing investor behavior and market performance.

As businesses continue to reopen and normalcy gradually returns, market watchers are hopeful that stability will soon be restored.

However, the immediate outlook remains cautious, with investors closely monitoring economic indicators and corporate earnings reports.

In the coming days, the performance of the equities market will largely depend on how quickly the economy recovers from the recent disruptions and how effectively companies can navigate the current challenges.

For now, active trades in financial institutions like Zenith Bank and UBA signal that there is still significant investor interest, albeit tempered by a cautious approach.

Market Summary

NGX All-Share Index: 97,582.41 points (-0.17%)
Market Capitalization: N55.404 trillion
Total Deals: 9,738
Total Shares Traded: 324,019,567
Total Value Traded: N6.217 billion

Top Losers

May & Baker: N6.50 (-7.67%)
Chams: N1.98 (-10%)
University Press: N2.18 (-9.92%)

Up Next

BUA Cement, Eterna, Fidson Lead Declines in NGX as Market Sheds 0.67%

Don't Miss

Okomu Oil, Total Energies Lead Market Rally Amid Governance Protests

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Comments

Nigerian Exchange Limited

Nigeria’s Equities Market Gains 0.32% Boosted by Nestle, Flourmills, and FBN Holdings

Published

4 days ago

September 13, 2024

Investors King

Nigeria’s equities market rose by 0.32 percent or N178billion on Thursday, thanks to Nestle, Flourmills and FBN Holdings that led the league of major advancers on the Lagos Bourse.

FBN Holdings increased from N24 to N26.40, adding N2.40 or 10percent. Caverton rose from N2.10 to N2.31, up by 21kobo or 10percent.

Flour Mills moved from N45.05 to N49.55, up by N4.50 or 9.99percent. RT Briscoe increased from N3.02 to N3.32, down by 30kobo or 9.93 percent, while Nestle rallied from N810 to N890, N80 or 9.88percent.

At the close of trading, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and equities market capitalisation increased from 96,715.04 points and N55.575 trillion respectively to 97,025.17 points and N55.753 trillion.

Access Holdings, FBN Holding, UBA, Caverton and Zenith Bank shares were most trading stocks. In 9,615 deals, investors exchanged 390,546,861 shares valued at N7.974billion.

Ahead of Thursday’s trading, analysts said broader market sentiment will remain balanced, with risk-averse investors maintaining a cautious stance ahead of any major corporate earnings announcements.

Nigerian Exchange Limited

Nigerian Exchange Recovers from Early Week Losses, Market Value Hits N55.6 Trillion

Published

5 days ago

September 11, 2024

Samed Olukoya

Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited (NGX) rebounded on Tuesday after opening the week in the red.

The NGX All-Share Index appreciated by 0.62 percent to 96,802.8 points while the market value of listed equities stood at N55.626 trillion.

Investors traded 406,194,548 shares valued at N13.313 billion in 12,241 transactions during Tuesday’s trading session.

Investors continued to show interest in Oando, which emerged as the most traded equity in both volume and value.

A total of 58,485,705 shares worth N5.521 billion were exchanged, with Oando’s stock appreciating by N6, or 6.7 percent, from N89.5 to N95.5 per share.

The second most traded stock on Tuesday was Access Holdings Plc with 30,379,481 shares valued at N557.65 million transacted.

However, Access Holdings’ shares lost 55 kobo, or 2.96 percent, declining from N18.95 to N18 per share.

The Exchange’s year-to-date (YtD) return improved to 29.46 percent.

SFS REIT led the gainers’ chart, increasing by N14.80, or 9.98 percent, from N148.35 to N163.15 per share. This was followed by Custodian Investment, which gained N1.10, or 8.87 percent, rising from N12.40 to N13.50, while RT Briscoe moved from N2.82 to N3.10 per share.

Nigerian Exchange Limited

Investors Lose N112 Billion as Equities Market Declines on Monday

Published

6 days ago

September 10, 2024

Samed Olukoya

The Nigerian equities market opened the week in the red as the Exchange shed N112 billion on Monday.

Investors traded 774,377,516 shares worth N14.65 billion in 10,412 transactions during the trading session.

The market value of listed stocks and the all-share index rose by 0.24 percent to settle at N55.28 trillion and 96,205.85 points, respectively.

Eterna led the gainers with a 10 percent increase, closing the day at N33.00 per share. This was followed by Tantalizers, which also saw a 10 percent rise to N89.50. Oando and FTN Cocoa Processors appreciated by 9.95 percent and 9.93 percent, respectively, closing at N89.50 and N1.66.

On the other hand, Learn Africa led the losers with an 11.18 percent decline, dropping to N4.13 per share.

Julius Berger Nigeria followed, losing 10 percent to close at N153.45. Transcorp Power shed 9.99 percent to settle at N301.70, while McNichols dropped 9.4 percent to close at N1.35.

Further analysis showed that Jaiz Bank was the most traded stock in terms of volume, with investors transacting 247 million shares. Zenith Bank, FBN Holdings, and Guaranty Trust Holding followed with 173 million shares, 41.5 million shares, and 33.9 million shares, respectively.

Last week, the Exchange lost N83 billion as the All-Share Index and market capitalisation dipped by 0.15 percent due to sell-offs in big stocks.