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Stock market records losses, capitalisation down by N20bn

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Bearish sentiment resurfaced at the Nigerian stock market on Monday, following sell-off in some bank stocks such as  Fidelity Bank, Sterling Bank, Access Bank, First Bank of Nigeria Holdings (FBNH), among others.

Specifically, the market capitalisation lost N20.6 billion or 0.07 per cent to close at N27.921 trillion from N27. 941 trillion on Friday.

Also, the All-Share Index (ASI) declined by 38.22 points or 0.07 per cent to close at 57,791 against 51,829 the same day.

Accordingly, the year-to-date returns increased to 21.24 per cent.

Overall, the market was negative with 17 losers, relative to 18 gainers.

Fidson Pharmaceutical drove the gainers’ chart in percentage terms by 9.82 per cent to close at N12.30 per share.

Learn Africa followed with a gain 9. 79 per cent to close at N2.47, while UPDC  rose by 9.71 per cent to close at N1.13 per share.

Prestige Insurance went up by 8.33 per cent to close at 39k, while Regent Alliance Insurance appreciated by 7.69 per cent to close at 28k per share.

On the other hand, Conoil led the losers’ chart in percentage terms by 9.9 per cent to close at N25.95 per share.

Redstar Express and RT Briscoe followed with 9.09 per cent each to close at N2.50 and 40k per share.

Cutix  shed 7.69 per cent to close at N2. 28 per share, while Unity Bank lost 6.67 per cent to close at 42k per share.

Also, the total volume traded increased  to 194.122 million units valued at N2.82 billion and exchanged in 4,899 deals.

Transactions in the shares of Transcorp topped the activity chart with 25.07 million shares valued at N31.77 million.

Guaranty Trust Holding Company (GTCO) followed with 20.18 million shares worth N413.02 million, while United Bank for Africa (UBA) traded 15.59 million shares valued at N131.22 million.

AIICO traded 13.61 million shares valued at N8.32 million, while First Bank of Nigeria (FBNH) transacted 11.63 million shares worth N131.92 million.

Analysist at GTI Securities  said, “Equity market closed transaction for today negative, as bargain hunting resumes. We expect cautious trading to continue in the week.’

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Stock Market Down 0.14% on Sell-off in FBN Holdings, 17 Others

Trading activities in the stock market of the Nigerian Exchange Limited (NGX) yesterday depreciated by 0.14 per cent, following investors sell-off in FBN Holdings (FBNH) and 17 others stocks.
In summary, the NGX All-Share Index (ASI) declined by 76.90 basis points or 0.14 per cent to close at 53,193.98 basis points from 53,270.88 basis points it opened for trading.
Similarly, the overall market capitalization value lost N42 billion to close at N28.677 trillion from N28.719trillion it close for trading the previous day.
Consequently, the stock market in its Month-to-Date and Year-to-Date gains moderated to 0.4per cent and 24.5per cent, respectively.
Sectoral performance was mixed as the Insurance index depreciated by 1.8per cent and Banking Index down by 0.9per cent, while the Industrial Goods and Oil & Gas indices closed flat. The Consumer Goods index added 0.1 per cent, the sole gainer yesterday.
Market breadth closed negative as 18 stocks lost relative to 16 gainers. Caverton Offshore Support Group recorded the highest price gain of 7.34 per cent to close at N1.17, per share.
FTN Cocoa processors followed with a gain 5.88 per cent to close at 36 kobo, while Transnational Corporation of Nigeria (Transcorp) gained 5.69 per cent to close at N1.30, per share.
Cutix appreciated by 4.98 per cent to close at N2.74, while Linkage Assurance  gained 3.70 per cent to close at 56 kobo, per share. On the other hand, Champion Breweries led the losers’ chart by 9.79 per cent to close at N3.50, per share. Cornerstone Insurance followed with a decline of 9.68 per cent to close at 56 kobo, while eTranzact International shed 9.67 per cent to close at N2.71,  per share.
NEM Insurance shed 8.33 per cent to close at N3.85, while Japaul Gold and Ventures depreciated by 6.25 per cent to close at 30 kobo, per share.
Meanwhile the total volume of trades rose slightly by 6.11 per cent to 248.959 million units, valued at N1.861 billion, and exchanged in 4,265 deals. Transactions in the shares of Transcorp topped the activity chart with 103.558 million shares valued at N131.251 million. Fidelity Bank followed with 24.810 million shares worth N80.206 million, while FBNH traded 12.518 million shares valued at N130.627 million.
Japaul Gold and Ventures traded 10.349 million shares valued at N3.120 million, while Chams transacted 7.812 million shares worth N1.877 million.
On market outlook, analysts at GTI Securities Limited said “The stock market closed positively, as bargain hunting was seen in all the major sectors. We expect cautious trading to continue.”

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NGX Joins African Exchanges to Facilitate Cross-border Trading Platform

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The Nigerian Exchange Limited (NGX) joined other African Exchanges in facilitating cross-border trading platform and free movement of investments in the continent.

Other African Exchanges participating in the Phase 1 cross-border trading initiative are:   Bourse Régionale des Valeurs Mobilières (BRVM, integrating eight West African countries), Casablanca Stock Exchange (CSE), The Egyptian Exchange (EGX), Johannesburg Stock Exchange (JSE), Nairobi Securities Exchange (NSE) and Stock Exchange of Mauritius (SEM).

A total of four Exchanges (NGX, BRVM, CSE and EGX) have been successfully connected to the Link trading terminal live environment as the integration process continues for the other Exchanges.

AELP is a flagship project of ASEA and the African Development Bank (AfDB) is aimed at facilitating cross-border trading among seven participating Exchanges and select broker firms. In July 2021, ASEA signed a contract with DirectFN Ltd for the design and implementation of the AELP Link trading system in the seven markets.

The ASEA President, Dr. Edoh Kossi Amenounve in a statement said: “The facilitation of cross-border trading will open up the markets to a diverse portfolio and investment opportunities.

“Brokers and investors will be able to access a variety of asset classes available in their markets of interest. Increased and regular cross-border trading is expected to enhance liquidity in the AELP Exchanges.”

The statement noted that African Funds Flow statistics measuring trade transactions between the seven Exchanges showed that cross-border trading has increased in the past three years.

According to the statement, “The AELP aims to automate the trading process and enable brokers to access information and see the market depth and liquidity of the participating markets. The linkage will happen through two main processes where Exchanges will be connected to the live market data Link, enabling traders to see live order-books across the markets, thereafter brokers will be interfaced with the system for order placement and execution.

“Stockbrokers and Securities Dealers are critical stakeholders in the Linkage process. In the first phase of the project, five brokers from each of the seven participating Exchanges will be integrated to the AELP Link.”

Through the coordination of the Exchanges and the African Stockbrokers and Securities Dealers Association (ASSDA), 30 broker firms have confirmed participation in the pilot phase. ASSDA which was formed in 2019 is an association of national associations of stockbrokers and securities dealers from six of the participating Exchanges.

The selection was based on an agreed criteria, and expression of interest by approved licensed dealing members from each of the participating Exchanges.

Five Nigerian stockbroker firms participating are: FBNQuest Securities Limited, Stanbic IBTC Stockbrokers Limited; Rencap Securities (Nig) Limited, Cardinal Stone Securities Ltd and Cordros Securities Limited constitute the lists of 26 other firms. The ASSDA Organizing Secretary, Mr. Willie Njoroge observed that “stockbrokers and securities dealers are excited about the AELP Project that shall enable them offer their clients a much wider selection of investable securities across Africa.”

Source=ThisDay=

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Trading closes southward on NGX, losses N52bn  

The bears resurfaced at the Nigerian Exchange Ltd.,(NGX) on Tuesday as a result of profit taking in MTN Nigeria and 11 other stocks.  

Accordingly, the All-Share Index declined by 97.07 basis points or 0.19 per cent to close at 51,805.41 from 51,902.48 recorded on Monday.  

Consequently, the year-to-date (YTD) return fell to 21.28 per cent.  

Similarly, the market capitalisation shed N52.36 billion to close at N27.928 trillion compared with N27.981 trillion posted on Monday.  

The market negative performance was driven by profit taking in telecommunication, consumer goods and Tier-1 banks which are MTNN, Nigerian Breweries Company, Zenith Bank and United Bank for Africa(UBA).  

However, the market breadth closed positive with 34 gainers as against 12 losers.  

NAHCO  led the laggards’ chart by 4.12 per cent to close at N6.51 per share.  

Mutual Benefits Assurance followed with 3.85per cent to close at 25k, while Wema Bank was down by 3.73 per cent to close at N3.61 per share.  

MTN Nigeria depreciated by 3.61 per cent to close at N240, while Regal Insurance declined by 3.33 per cent to close at 29k per share.  

Conversely, Multiverse Mining and Exploration, MayBaker and Okumu Oil topped the gainers’ chart in percentage terms by 10 per cent each to close at 22k N4.84 and N187 per share, respectively.  

Champion up by 9.81 per cent to close at N4.03 while McNicholas appreciated by 9.78 per cent to close at N1.01per share.  

Transactions in the shares of Guaranty Trust Bank Holding Company (GTco) topped the activity chart with 51.96 million shares valued at N1.23 billion.  

Transcorp followed with 44.33 million shares worth N49.62 million, while First Bank of Nigeria Holdings (FBNH) traded 14.09 million shares valued at N171.28 million.  

Oando traded 13.6 million shares valued at N80.86 million, while Regal Insurance traded 11.98 million shares worth N3.31 million.  

In all, the total volume traded depreciated by 1.10 per cent to 331.32 million shares worth N5.04 billion traded in 6,689 deals.  

This was against a total of 377.56 million shares valued at N5.55 billion transacted in 7,684 deals on Monday.  

The value of transactions declined by 7.95 per cent.  

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Stock market closes positive amid bargain hunting  

The stock market extended its gaining streak on Friday closing the week in green, following investors’ interest in some consumer goods stocks.  

Specifically, the market capitalisation gained N53 billion to close at N27.459 trillion against N27.406 trillion on Thursday.  

Similarly, the All-Share Index increased by 99.08 points to close at 50,935.03 from 50,835.95 posted on Thursday.  

The positive performance of the market was driven by bargain hunting in shares of Champion, International Breweries, Cadbury, PZ and NAHCO,  

In terms of sectoral performance, Insurance index, NGX Consumer Goods index, NGX Oil and Gas and the NGX Industrial index rose by 1.34 per cent 0.98 per cent, 1.39 per cent, 0.79per cent and 0.13 per cent, respectively.  

The market closed negative with 45 losers relative to 14 gainers.  

Caverton led the gainers’ chart in percentage terms by 10 per cent to close at N1.32 per share.  

Champion followed with 9.87 per cent to close at N3.34, while Learn Africa appreciated by 9.81 per cent to close at N2.35 per share.  

International Breweries rose by 9.76 per cent to close at N6.75, while Cadbury gained 9.72 per cent to close at N13.56 per share.  

On the other hand, Living Trust drove the lossers’ chart in percentage terms with 9.68 per cent to close at N1.12 per share.  

CWG followed with 6.25 per cent to close at 90k, while Stanbic was down by 6.17 per cent to close at N34.20 per share.  

Ikeja Hotel depreciated by 5.19 per cent each to close at N1.35.  

Also, Veritas Kapital lost by 4.55 per cent  21k per share.  

The total volume traded increased by 0.8 per cent to 466.28 million units valued at N5.309 billion exchanged in 7,442 deals.  

This was against a total of 462.60 million shares worth N8.305 billion achieved in 6,801 deals on Thursday.  

Transactions in the shares of Living Trust topped the activity chart with 88.57 million shares valued at N99.2 million.  

Transcorp followed with 40.51 million shares worth N48.31 million, while Fidelity Bank traded 30.4 million shares valued at N111.97 million.  

Covertville traded 29.62 million shares worth N14.82 million, while Zenith Bank transacted 24.05 million shares valued at N588.66 million.  

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Naira appreciates marginally at Investors and Exporters Window  

The Naira exchanged at 416.62 to the dollar at the Investors and Exporters window on Tuesday, representing a `Negative 0.09’ per cent appreciation, compared to N417 to the dollar recorded on Monday.  

The open indicative rate also closed at N416.17 to the dollar on Tuesday.  

An exchange rate of N444 to the dollar was the highest rate recorded within the day’s trading before it settled at N416.62.  

The Naira sold for as low as N410 to the dollar within the day’s trading.  

A total of 127.12 million dollars was traded in Foreign Exchange at the official Investors and Exporters Window on Tuesday.

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NGX: Equity market records N1bn loss  

The Nigerian equity market closed negative on Thursday, reversing the previous day’s gains.  

The NGX-All Share Index fell to 47,353.22 points from 47,364.46 points, indicating a Year to Date (YtD) return of 10.85 per cent.  

Similarly, the market capitalisation declined by 0.02 per cent to N25,52 trillion from N25,53 trillion, making a decrease of N1 billion.  

The market turnover rose to N3.89 billion from N2.54 billion recorded  the previous day.  

The negative performance of the market was driven by price depreciation in large and medium capitalised stocks which are: Sterling Bank, WAPIC, Royal Exchange Assurance and Transcorp.  

The market breadth was positive as 18 stocks advanced against 17 stocks that declined.  

Nigeria Insurance led the losers’ chart in percentage terms by 0.02 per cent to close at 22k per share.  

Cornerstone followed with 0.04 per cent to close at 58k while Veritas Kapital lost 0.01 per cent to close at 21kper share.  

Seplat declined by 3.13 per cent to close at N930, while LASACO shed 2.80 per cent to close at N1.04 per share.  

On the other hand, UACN drove the gainers’ chart in percentage terms with 10 per cent to close at N12.10 per share.  

Royal Exchange Assurance followed with 9.80 per cent to close at N1.12, while Wapic was up by 8.16 per cent to close at 53k per share.  

Presco appreciated by 6.40 per cent to close at N133. Also, Multiverse gained 4.55 per cent to close at 23k per share.  

The total volume traded increased by 64 per cent to 239.73 million units valued N3.89 billion exchanged in 3,848 deals.  

This was against the total volume of 145.83 million units valued N2.54 billion and exchanged in 4,113 deals on  Wednesday.  

Transactions in the shares of Veritas Kapital topped the volume chart with 30.01 million shares valued N6.3 million.  

United Bank for Africa (UBA) followed with 27.73 million shares worth N235.18 million, while First Bank of Nigeria Holdings (FBNH) traded 23.02 million shares valued N272.01 million.  

Guaranty Trust Bank of Nigeria Company(GTco) traded 18.24 million shares worth N447.56 million, while Fidelity Bank transacted 16.11 million shares valued N47.76 million.  

Trading At The Nairobi Securities Exchange

Market Capitalisation closes at N25.59trn

The market capitalisation of equities listed on the Nigerian Exchange Ltd., (NGX) appreciated by 0.19 per cent to close at N25.59 trillion on Tuesday.

The NGX All-Share Index also appreciated by 0.19 per cent to close the day’s trading at 47,482.73 basis points from the 47.394.53 recorded on Monday.

Accordingly, investors gained N47.53 billion in value as market capitalisation increased to N25.59 trillion from N25.54 trillion on Monday.

The increase was impacted by gains recorded in medium and large capitalised stocks, amongst which are; SEPLAT, MTNN, Zenith Bank Dangote Cement Dangote Cement and Guaranty Trust Bank Holding Company (GTco).

As measured by market breadth, market sentiment was positive as 15 stocks recorded price appreciation while 31 depreciated in price.

SEPLAT Plc recorded the highest price gain of N85.9, representing 9.99 per cent to close at N945.80, while Royal Exchange followed with a gain of 13k with an increase of 9.49 per cent to close at N1.50 per share.

Courtville Business Solutions Plc went upc0.05 , representing 9.09 per cent to close at 60k per share.

Veritas Kapital Assurance Plc appreciated one kobo with 4.55 per cent to close at 23k per share. First City Monument Bank (FCMB) also added 10k, representing 3.23 per cent to close at N3.20 per share.

On the other hand, Cutix Plc led the losers’ chart by 10 per cent, gaining 27k to close at N2.43kobo per share, while Learn Africa Plc followed with a decline of 9.96 per cent, loosing 26k to close at N2.35 per share.

GSPEC Plc shed 8.35 per cent to loose 41k, closing at N3.78 per share, while Caverton Plc declined by 9.68 per cent, dropping 15k to close at N1.40 per share.

Also, R.T Briscoe Plc shed 9.41 per cent with a decline of eight kobo to close at 77k per share.

On the activity chart, the total volume of trades rose by 11.24 per cent to 370.543 million units, valued at N7.853 billion, and exchanged in 6,045 deals.

Transactions in the shares of MTNN (FBNH) led in volume with 22.25 million shares valued N4.56 billion.

Zenith Bank followed with 22.08 million shares worth N624.75 million, while Presco traded 4.11 million shares valued N427.33 million.

Dangote Cement traded 1.43 million shares valued at N385.78 million, while GTco transacted 7.75 million shares worth N208.75 million.

The day's final numbers are shown on information board above floor of New York Stock Exchange shortly before closing of market in New York

Stock market gains marginally with N7bn

The stock market of the Nigerian Exchange Ltd., (NGX) gained marginally on Tuesday with  N7 billion to close at N25.464 trillion, from N25.457trillion  on Monday.

Also, the NGX All-Share Index appreciated marginally by 0.03 per cent to close at 47,246.90 basis points from 47,233.91 basis points.

Sectorally, the NGX Insurance deprecated by 0.6 per cent, NGX Consumer Goods dipped by 0.4 per cent, and NGX Banking index also dropped 0.1per cent.

The NGX Industrial Goods, on the other hand, rose 0.02 per cent while Oil & Gas indices rose 0.01 per cent.

As measured by market breadth, market sentiment was positive as 29 stocks gained relative to 18 losers.

Among the top five gainers are May & Baker, which rose by 44 Kobo to close at N5.00 from N4 56 per share, representing 9.65 per cent while Cutix Plc gained  9 Kobo to close at N2.84 from 2.59  per share, an increase of 9.65 per cent

SCOA Plc increased with a gain of 23 kobo to close at N2.58 from N2.35 per share, representing 9.78 per cent.

Learn Africa appreciated by 20 Kobo to close at N2.42 from N2.20 per share while Niger Insurance Plc gained 02 Kobo to close at 22 Kobo from 20 kobo per share, both representing10 per cent gain.

Among the top five losers was Courtville Bussiness Solution, which depreciated  by 3 Kobo, closing at 51 Kobo from 54 Kobo per share, representing 5.56 per cent while Ellah Lakes shed 42 Kobo to close at N3.83 from N4.25 per share, dropping by 9.88 per cent.

Also, Veritaskap was down by 2 Kobo to close at 23 Kobo  from 25 Kobo per share, a decrease of eight per cent.

The total volume traded advanced by 0.1per cent to 421.82 million units, valued at N5.16 billion, and exchanged in 5,992 deals.

UCAP was the most traded stock by volume at 66.10 million units and total valued traded of N889.15million, while Zenith Bank was the most traded stock by value at N1.39 billion with 51. 6million volume traded.

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Stock market moves 225.69m shares worth N2.39bn

The Nigerian Exchange Ltd. on Friday moved a total of 225.69 million shares worth N2.39 billion in 4,093 deals.

This was against a turnover of 346.70 million shares valued at N3.83 billion exchanged in 4,952 deals on Thursday, a decrease of 34.90 per cent.

Fidelity Bank was the most active stock during the day, exchanging 24.85 million shares valued at N71.19 million.

RTBriscoe followed with an account of 23.62 million shares valued at N6.89 million, while Transcorp traded 16.39 million shares worth N18.53 million.

Chams sold 15.24 million shares valued at N3.05 million while Courtvellle Business Solutions traded 12.92 million shares worth N6.77 million.

Also, the market capitalisation was down by N27 billion or 0.10 per cent to close at N25.477 trillion from N25.504 trillion reported on Thursday.

In the same vein, the All-Share Index depreciated by 49.88 points or 0.10 per cent to close at 47,279.92 from 47,329.80 recorded on Thursday.

Presco topped the losers’ chart in percentage terms dropping by 10 per cent to N94.50 per share.

NEM Insurance trailed with loss of 9.76 per cent to close at N3.33, while International Breweries dipped 9.40 per cent to close at N5.30 per share.

UPL was down by 5.66 per cent to close at N2.50, while Chams shed 4.76 per cent to close at 20k per share.

Conversely, Scoa led the gainers’ table in percentage terms, gaining 9.65 per cent to close at N1.25 per share.

Living Trust Mortgage followed with 8.77 per cent to close at N1.24, while Jaiz Bank gained 5.97 per cent to close at 71k per share.

Champion Breweries added 4.76 per cent to close at N2.20, while Guinea Insurance gained 4.76 per cent to close at 22k per share.

However, analysts urged investors to take position in only fundamentally justified stocks as the weak macro environment remained a significant headwind for corporate earnings.

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