Nigerian Exchange Group

Stock Market Gains N88.980, Ends Week Bullish

by with No Comment Businessfinance

The Nigerian Stock market sustained its recovery Friday as the Nigerian Exchange Group (NGX) closed the week bullish and the All-Share Index and Market Capitalization appreciated170.02 index point and N88.980 billion respectively.

READ ALSO: Charting A New Course for Venture Capitals and Early-Stage Funding

The ASI appreciated by 0.43 percent to close at 39,301.82 basis point, having opened trading for the session at 39,131.80 basis point, while the market capitalisation jumped to N20.568 trillion from N20. 479 trillion, also representing a 0.43 percent growth.

The Equities market was largely impacted by the rise in the value of Sovereign Trust Insurance Plc , Stanbic IBTC Bank, Tripple Gee and Company Plc, Academy Press and Regency Assurance Plc.

The day’s transaction saw the stock market turnover increasing by 25.83 percent, as 287. 038 million shares worth N 3,038 billion in 3,578 deals as against 228. 111 million shares valued at N 2. 635 billion in 3,656 deals bought and sold by investors on Thursday.

The market breadth was massively positive with Nine laggard equities as against 32 stocks advancing.

The gainers’ table was dominated in percentage terms by Tripple Gee, surging by 9.23 percent to close at N0. 71 Kobo per share.

Sovereign Trust Insurance and Stanbic IBTC Bank rose by 8.70 percent to close at N0. 25 Kobo and N50 per share respectively.

Also, Academy Press Plc jumped 8.11 percent to close at N0. 40 Kobo per share, while Regency Assurance Plc climbed 8 percent to close at N0. 27 Kobo per share

Conversely, the laggard’s log was led in percentage parameters by Union Dicon Salt Plc, losing 9.59 percent to close at N9. 90 Kobo per share.

Linkage Assurance dipped 4.76 percent to close at N0. 80 kobo per share, while Cornerstone Insurance Plc Plc declined 3.70 percent to close at N0. 52 Kobo per share.

FTN Cocoa Plc fell by 2.50 percent to close at N0. 39 Kobo per share, while Northern Nigeria Flour Mills Plc completed the top five losers’ table when it shed 0.83 percent to close at N5. 95 Kobo per share.

Access Bank was the most active stock in volume terms, trading 46.788 million shares valued at N351. 758 million, while Guaranty Trust Bank closed trading as the most valuable equity at N1.333 billion.

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NSE

Zenith Bank, GTB, Union Bank Lift NSE Banking Index By 2.09%

by with No Comment BusinessNews

Growth in the share price of Zenith Bank Plc, Guaranty Trust Bank (GTB) and Union Bank of Nigeria Plc lifted the banking index of the Nigerian Stock Exchange (NSE) by 2.09 percent during trading for the past week.

READ ALSO: Nigerians rise against $1.5bn Port Harcourt refinery repair bill

The Banking Index which measures the performance of Nigerian banks on the NSE closed at 361.13 index point on Friday, March 19th from the 353.75 index point it commenced trading with on Monday, March 15th, surging by 7.38 index point, representing 2.09 percent appreciation. The banking index, however, fell by 8.11 per cent Year- till – Date (YTD)

The Financial Services Industry which includes the banking sector (measured by volume) led the activity chart with 1.888 billion shares valued at N12.446 billion traded in 12,019 deals, while a total turnover of 2.342 billion shares worth N19.272 billion in 20,173 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 1.675 billion shares valued at N23.541 billion that exchanged hands last week in 21,732 deals.

The NSE All-Share Index and Market Capitalization depreciated by 0.69% to close the week at 38,382.39 and N20.082 trillion respectively.

Checks by InsideBusiness shows that Zenith Bank led the gainers in the banking sector during the week in review in terms of market capitalisation.

The tier-1 financial institution rose by 6.13 percent in value of its market capitalisation and share price, rising from N665.605 billion and N21.20 Kobo per share to N706.421 billion and N22.50 Kobo per share respectively.

The appreciation saw Zenith Bank gaining N40.815 billion and its outstanding shares remain at 31,396,493,786.

GTB followed with a N30.902 billion growth in the bank’s market share, climbing from N881.463 billion to N912.366 billion, representing 3.50 percent appreciation.

The Orange brand also recorded soared share price, moving from N29.95 Kobo per share to N31 per share.

Union Bank completed the biggest gainers’ table for the week when its share price and market capitalisation jumped by 4.95 percent, indicating a N7.280 billion surge.

The first generation bank saw its market capitalisation currently standing at N154.339 billion up from N147.059 billion, while the value of its share price rose from N5.05 Kobo per share to N5.30 Kobo per share.


Ecobank Transnational Corporation (ETI) dominated the losers for the week, losing N5.504 billion representing 5.8 percent to close at N94.500 billion in market capitalisation down from N88. 995 billion.


The share price which opened at N5.15 Kobo per share on Monday, March 15th fell to N4.85 Kobo per share on Friday Friday, March 19th.

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Nigerian Stocks

Guinness, other stocks drive NSE ASI high by 0.41%

by with No Comment Businessfinance

Nigeria’s stocks market defied earlier negative predictions to close in the green zone on Tuesday, March 16 as investors showed interest in Guinness Nigeria Plc and other value counters.

READ ALSO: Inflation rate quickens to 48-month high…

Market watchers had predicted earlier bearish performance to filter into Tuesday trading session due to lack of positive news capable of lifting investors’ sentiment.

The National Bureau of Statistics (NBS) released the February inflation report with headline inflation jumping to a 4-year high at 17.33percent year-on-year (y/y) from 16.47 percent in January 2021.

At the Nigerian stock market, Guinness led the league of advancers after its share price moved up by N2.3 or 10 percent, from N23 to N25.3. Also, Vitafoam rallied from by 40kobo or 5.44percent, from N7.35 to N7.75; while Livestock Feeds made the top advancers after its share price increased by 7kobo or 3.83percent, from N1.83 to N1.9.

At the close of the trading session on Tuesday, March 16, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) increased by 0.41 percent, from 38,561.84 points to 38,720.81 points while the value of listed stocks on the Nigerian Bourse increased by N83billion, from N20.175 trillion to N20.258trillion.

Despite the record positive close of equities trading on Custom Street, more investors chose to sell stocks like Wapic (-9.09percent), Africa Prudential (-8.26percent), Fidelity Bank (-6.69percent), ETI (-5.83percent), and GTBank (-4.84percent).

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Nigerian Stocks

Stock market gains N128bn on renewed buy interest

by with No Comment financeNews

Investors on the Nigerian Stock Exchange (NSE) are beginning to buy into recent dip as earlier envisaged. This move led to the record positive close on Tuesday March 10.

READ ALSO: Investment in Nigeria’s manufacturing sector down 76% on COVID-19

Investors showed remarkable interests in stocks like Champion Breweries (+8.91 percent ), Neimeth (+8.85percent) and Nahco (+6.64percent).

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and Market Capitalisation moved up from 38,686.85 points and N20.241trillion respectively on Tuesday to 38,931.25 points and N20.369trillion.

Stock market gains N128bn on renewed buy interest – Businessday NG

The NSE ASI increased by 0.63percent at the close of trading, while the value of listed stocks decreased by N128billion.

In 4,437 deals investors exchanged 368,216,369 units valued at N4.909billion. UBA, FBN Holdings and GTBank were actively traded stocks on the Bourse.

The market’s year-to-date (YtD) negative returns decreased to -3.33percent, while the record dip this month stood at -2.18percent.

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Investors in Nigeria’s equities market became worse off in the trading week ended March 5 after booking about N245billion loss as funds moved out of equities due to impressive yields in the fixed income (FI) market.

Investors are now battling with the decision to either buy into the recent dip or to stay out of the market pending when there are major positives capable of reversing the negative trend.

Stock Market

Nigerian stock market extends loss by 0.40%

by with No Comment BusinessfinanceNews

Nigerian stock market extended negative trend for the third consecutive trading session following sell pressure on Nigerian Breweries, Dangote Sugar Refinery and tier-1 banks.

READ ALSO: Small businesses get N53b to create 1 million jobs

The All-Share Index on Thursday declined further by 157.39 points or 0.40 per cent to close at 39,394.67 from 39,522.06 posted on Wednesday.

Accordingly, the month-to-date and year-to-date losses increased to 1.1 per cent and 2.3 per cent, respectively.

In the same vein, the market capitalisation shed N83 billion to close at N20.595 trillion against N20.678 trillion recorded on Wednesday.

The market loss was driven by price depreciation in large and medium capitalised stocks amongst which are; Presco, Nigerian Enamelware, Nigerian Breweries, Julius Berger and Ardova.

Consequently, market sentiment was negative with 47 losers in contrast with 13 gainers.

Fidson Healthcare led the losers’ chart in percentage terms with 10 per cent to close at N4.41 per share.

Northern Nigeria Flour Mills followed with a decline of 9.97 per cent to close at N6.32 per share.

NEM Insurance and Nigerian Enamelware shed 9.95 per cent each to close at N1.72 and N19.90 per share, respectively.

NCR declined by 9.91 per cent to close at N3.09 per share.

Conversely, University Press dominated the gainers’ chart in percentage terms with 9.91 per cent to close at N1.22 per share.

Morison Industries followed with 9.09 per cent to close at 60k, while Chemical & Allied Products increased by 5.26 per cent to close at N20 per share.

Lafarge Africa grew by 3.59 per cent to close at N20.20, while livestock Feeds rose by 3.17 per cent to N2.28 per share.

Transactions in the shares of Universal Insurance topped the activity chart with 83.26 million shares valued at N16.65 million.

Zenith Bank followed with 38.65 million shares worth N983.25 million, while FBN Holdings traded 31.25 million shares valued at N216.72 million.

United Bank for Africa accounted for 26.78 million shares valued at N211.57 million while Access Bank transacted 21.59 million shares worth N168.09 million

Meanwhile, the total volume of traded increased by 101.8 per cent as investors bought and sold 493.17 million valued at N4.72 billion exchanged in 5,486 deals.

This was against a total of 244.34 million shares worth N4.13 billion traded in 4,714 deals on Wednesday. (NAN)

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