Nigerian Exchange Limited

Stocks Rise Slightly in Nigeria’s Equities Market with Julius Berger and Livestock Feeds in the Spotlight

Published

2 months ago

July 23, 2024

Nigeria’s equities gained modestly at the start of the week as investor enthusiasm pushed stock prices slightly higher.

The Nigerian Stock Exchange (NGX) All-Share Index climbed by 0.03% or N16 billion, buoyed by notable gains in shares of key companies including Julius Berger, Livestock Feeds, and Neimeth.

Julius Berger saw the most significant increase, with its share price rising from N87.50 to N92.50, a gain of N5 or 5.71%.

This surge reflects growing investor confidence in the construction sector, despite broader market uncertainties.

Livestock Feeds also performed strongly, with its stock price climbing from N2.20 to N2.38, marking an 8.18% increase.

Neimeth Pharmaceuticals followed suit, with its shares rallying from N1.74 to N1.88, up by 8.05%.

Market analysts attribute the market’s cautious optimism to a combination of factors, including upcoming corporate earnings releases and potential dividend declarations.

Futureview Research noted that while the market showed a positive trajectory, investor sentiment might be tempered by increased regulatory scrutiny on banking stocks and anticipation of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) meeting.

“We expect a mixed market close this week,” said Futureview Research in their July 22 note. “Cautious trading in banking stocks is anticipated amid increased regulatory oversight, while investor focus is likely to shift towards the bond Primary Market Auction (PMA). This could dampen overall market sentiment.”

Despite the modest gains, analysts are cautious about the short-term outlook. Meristem analysts highlighted that while some stocks have shown positive movement, the broader market could face challenges.

“We anticipate increased activity in equities this week, driven by buying interest in fundamentally strong stocks. However, uncertainty surrounding the MPC’s decisions and potential impacts from the bond and T-bills auction could influence market dynamics,” they noted.

The NGX All-Share Index rose from the previous day’s 100,539.40 points to 100,568.63 points, while the market capitalization increased from N56.929 trillion to N56.945 trillion.

In a total of 8,760 transactions, investors exchanged 335,704,787 shares valued at N3.717 billion.

Trading activity also highlighted the popularity of stocks such as Ellah Lakes, Universal Insurance, United Capital, Veritas Kapital Assurance, and FCMB Group. These stocks saw active trading as investors navigated the market’s current landscape.

As the week progresses, all eyes will be on the MPC meeting, where key decisions regarding interest rates and monetary policy will be announced.

The outcome is expected to play a significant role in shaping investor sentiment and market direction in the coming weeks.

Up Next

Nigerian Stocks Dip Amid Interest Rate Hike, N68 Billion Lost

Don't Miss

Nigerian Stock Market Surges with N512bn Gain Amid Active Trading

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.