NGX Rebounds with 0.47% Gain, Investors Pocket N262 Billion

Published

11 hours ago

October 5, 2024

The Nigerian Exchange Limited (NGX) appreciated 0.47 percent on Friday to break the recent trend of losses as investors pocketed N262 billion.

The market index or All-Share Index (ASI) rose by 456.12 basis points on Friday’s trading session, reflecting a 0.47 percent increase to close at 97,520.54.

Buying appetite in some medium and large-cap stocks, including Seplat, Julius Berger, Guinness, and others spurred the positive outcome.

However, market activities were mixed as the total volume traded was up by 19.5% while the total value traded dropped by 10.9%.

The daily trading data showed that approximately 320.70 million units valued at N6,021.56 million were transacted across 8,763 deals.

Tier-1 bank, UBA was the most traded stock in terms of volume, accounting for 11.5% of the total volume of traded transacted in the market.

Other volume drivers include Sterling Bank (7.35%), Ellah Lakes (7.27%), Wapco (5.20%), and Regalins (4.99%) to complete the top 5 on the volume chart.

UBA emerged as the most traded stock in value terms, with 16.5% of the total value of trades on the exchange.

Based on the trading directions, the market breadth closed positive, recording 34 gainers and 21 losers.

Seplat topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by ABC Transport, up by 9.82%.

Other gainers include Livestock (+9.70%), Caverton (+9.62%), FTN Cocoa (+9.29%), Ellah Lakes (+8.43%) and twenty-eight others.

Twenty-one (21) stocks depreciated, according to stockbrokers. Eterna was the top loser, with a price depreciation of -10.00%.

Other decliners include PZ (-9.49%), Dangote Sugar (-5.85%), Fidelity Bank (-4.76%), Nascon (-2.91%), and Oando (-1.95%).

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NGX Market Cap Further Loses N671 Billion

Iyanuoluwa Martins

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NGX Market Cap Further Loses N671 Billion

Published

2 days ago

October 4, 2024

Iyanuoluwa Martins

Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited (NGX) continued its presence in the red territory on Thursday as investors counted losses valued at N671 billion at the close of trading on Thursday, October 3.

The market capitalisation dropped 1.19% to N55.7 trillion from N56.4 trillion recorded by the bourse on Wednesday, while the benchmark All-Share Index (ASI) also decreased to 97,064.42 from 98,232.39 recorded the previous trading day.

The market breadth was negative as 23 stocks advanced and 27 stocks declined, while 65 stocks remained unchanged in 8,565 deals.

Investors sold mostly industrial and consumer goods stocks despite the rally seen in oil & gas and insurance stocks.

Dangote Cement Plc decreased most on the Nigerian Exchange Limited (NGX) by N53.20 or 10%, from N532 to N478.80. It was followed by CWG which decreased from N6.50 to N6.20, adding 30kobo or 4.62%.

Seplat, Livestock, and Regalins led other gainers with 10%, 9.93%, and 9.76% growth each in share prices to close at N4, 513.40, N2.99, and N0.90 from the previous N4, 103.10, N2.72, and N0.82 per share.

On the flip side, Dangote Cement, NSL Tech, and UPDC Real Estate led other price decliners as they shed 10%, 7.58%, and 4.72% each to close at N478.80, N0.61 and N5.05 from the initial N532.00, N0.66, and N5.30 per share.

On the volume index, United Bank for Africa (UBA) led trading with 37 million shares valued at N993 million in 909 deals followed by ZENITH BANK which traded 19 million shares valued at N716 million in 323 deals. Dean Capital traded 13 million shares valued at N20 million in 159 deals.

On the value index, Seplat recorded the highest value for the day trading stocks worth N2.3 billion in 13 deals followed by UBA which traded equities worth N993 million in 909 deals and Zenith Bank traded shares valued at N716 million in 323 deals.

Nigerian Exchange Limited

Investors’ Profit Taking Chip Off N187bn From Nigerian Stock Market

Published

3 days ago

October 3, 2024

Iyanuoluwa Martins

Profit-taking weakened the Nigerian Exchange Limited (NGX) by 0.33 percent on Wednesday as sell-offs persisted in 32 stocks.

As a result of this, the NGX market capitalisation of the stock market lost N187 billion to close at N56.448 trillion from N56.635 trillion.

The All-Share Index (ASI) also shed 0.33 percent or 327 points to close at 98,232.39, against 98,558.79 reported on Monday. The market didn’t trade on Tuesday (October 1) due to the 64th Independence Day celebration.

Investors King analysis of the market activities showed trade turnover settled lower, relative to the previous session, with the value of transactions down by 92.43 percent.

A total of 425.76 million shares valued at N8.45 billion were exchanged by investors in 11,954 deals, in contrast to 1.86 billion shares valued at N111.58 billion were exchanged in 10,583 deals posted previously.

Market breadth also closed negative with 32 losers and 26 gainers.

On the losers’ chart, Ellah Lakes led by 9.93 percent to close at N3.99 per share, while International Breweries led the gainers’ chart by 9.98 percent to close at N4.41 per share.

International Breweries emerged as the highest price gainer of 9.98 percent to close at N4.41, per share.

Meyer followed with a gain of 9.94 percent to close at N8.52, while Veritas Kapital Assurance increased by 9.93 percent to close at N1.66, per share.

Tripple Gee and Company rose by 9.91 percent to close at N4.99, while Deap Capital Management & Trust appreciated by 9.84 percent to close at N1.34, per share.

For the gainers, Ellah Lakes led others on the losers’ chart with 9.93 percent to close at N3.99, per share. Caverton Offshore Support Group followed with a decline of 9.92 percent to close at N2.18, while ABC Transport shed 9.57 percent to close at N1.04, per share.

Livestock Feeds depreciated by 9.03 percent to close at N2.72, while Consolidated Hallmark Holdings dipped by 7.24 percent to close at N1.41, per share.

On indices performance, the NGX Banking Index dropped by two percent and NGX Oil & Gas Index was down by 0.1 percent, while the NGX Consumer Goods Index added 1.1 percent and NGX Insurance Index appreciated by one percent. The NGX Industrial Goods index closed flat.

Nigerian Exchange Limited

Stock Investors Gain N131 Billion on Tuesday

Published

2 weeks ago

September 18, 2024

Samed Olukoya

Nigeria’s equities market opened the holiday-shortened trading week in green as investors bought banking and consumer goods stocks despite record profit taking in insurance, industrial, oil & gas stocks.

“Looking forward, the equities market is expected to retain its buy interest as investors cherry-pick undervalued stocks. However, given the sentiment that rates might have peaked in the fixed income and money markets and investors locking in on current rates, we expect some bearish undertone to persist in the equities market,” according to United Capital research analysts.

The analysts said the bulls “will remain incentivised to persist in bargain hunting, given the tremendous mid-long-term opportunities in the equities market. Fund managers and businesses may begin to entertain mid-long-term (≥6 months) investment objectives, cherry-picking only sound equities with strong fundamentals and ongoing corporate actions. This strategy will maximise market opportunities, thereby optimising portfolio returns”.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation appreciated by 0.23 percent and N131billion from preceding day’s 97,456.62 points and N56.002 trillion respectively to 97,685.63 points and N56.133 trillion.

The market’s year-to-date (YtD) return rose to 30.64 percent.

According to Meristem research analysts, “While we expect subdued participation in the Nigerian equities market this week, we anticipate that buying activity will outweigh profit-taking. Our outlook is hinged on the belief that no major negative catalysts are expected to shift market direction this week. We anticipate that investors will continue selective buying, seeking opportunities across various sectors.

“Additionally, macroeconomic developments and corporate actions from companies could stimulate moderate buying interest in the market. We also do not foresee a significant shift towards the fixed-income market as yields have started to stabilize. However, we acknowledge the potential for profit-taking as short-term investors may look to capitalize on recent gains. Overall, we expect the market to close in the green zone this week,” Meristem analysts said.