Nigerian Exchange Limited

Nigerian Exchange Opens Week Strong with N36bn Surge, All-Share Index Climbs

Published

3 weeks ago

August 27, 2024

The Nigerian stock market kicked off the week on a positive trajectory as the Nigerian Exchange (NGX) recorded a gain of N36 billion on Monday.

This surge was largely driven by strong performances from key players like Eterna Plc, Okomu Oil Palm, and Oando, which led the market’s rally.

The NGX All-Share Index rose by 0.07%, closing at 96,037.28 points, while the market capitalization increased to N55.2 trillion. This positive trend boosted the year-to-date return to an impressive 28.35%.

The day’s trading session saw participation from 122 listed equities, with 28 stocks advancing and 18 declining.

Eterna Plc emerged as the top gainer of the day, appreciating by 10% to close at N23.10 per share.

Okomu Oil Palm followed closely with a 9.99% increase, pushing its share price to N379.80. RT Briscoe also gained 9.96%, closing at N2.98, while Oando saw a 9.93% jump, closing the day at N52.60.

On the flip side, Transcorp Power recorded the largest decline of the session, dropping 9.99% to close at N335.20 per share.

Abbey Mortgage Bank also saw a significant drop of 9.69%, closing at N2.33, while United Capital and University Press lost 8.35% and 5.51%, closing at N18.1 and N2.40, respectively.

Despite a 16% decline in turnover compared to the previous trading day, market activity remained robust with 390.51 million shares traded across 9,242 deals, valued at N3.88 billion.

This represented a 19% increase in trading volume and a 26% rise in the number of deals, indicating sustained investor interest.

Veritas Kapital Assurance led in terms of trading volume, with 67.3 million shares exchanged, followed by Japaul Gold and Ventures (23.9 million shares), FCMB Group (20.5 million shares), and Prestige Assurance Company (20.2 million shares).

This week’s positive start follows a challenging previous week for the NGX, which saw the market suffer an N815 billion loss amid bearish trading sessions on Monday and Thursday.

However, the renewed interest in equities appears to have reversed the trend, restoring optimism among investors.

As the recapitalization push in the banking sector continues to stir up market activity, analysts expect further gains in the coming sessions.

Banks like Fidelity, GTCO, and Access Holdings have already completed their capital-raising programs, while others like FCMB Group and Zenith Bank are still in the process of share sales, which is expected to sustain the momentum in the equity market.

With a favorable economic outlook for Nigeria and strong corporate performances, market watchers are optimistic that the Nigerian Exchange will continue its upward trend, offering investors new opportunities in the weeks ahead.

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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.

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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.