The Nigerian Exchange Ltd. (NGX) All-Share Index on Wednesday rebounded by 1.47 per cent, following Dangote Cement gain.
Specifically, the index which opened at 50,075.47 rose by 725.76 points or 1.47 per cent to close at 49,350.71.Similarly, the market capitalisation increased by N390.92 billion to close at N27.01 trillion compared with N26.62 trillion achieved on Tuesday.
A breakdown of the price movement table shows that Dangote Cement recorded the highest gain to lead the gainers’ table with 9.96 per cent to close at N265 per share.
NEM Insurance followed with an increase of 9.89 per cent to close at N24.11, while Ellah Lakes rose by 9.41 per cent to close at N4.30 per share.
Japaul Gold and Ventures appreciated by 8.82 per cent to close at 37k, while Mayer & Baker grew by 8.68 per cent to close at N3.88 per share.
On the other hand, WAPCO topped the losers’ table, depreciating by 8.84 per cent to close at N23.20 per share.
NAHCO trailed with a decline of 8.62 per cent to close at N5.30, while Honey Flour lost by 6.41 per cent to close at N2.63 per share.
UACN was down by 5.36 per cent to close at N10.60, while AIICO Insurance declined by 5.26 per cent to close at N10.54 per share.
In the same vein, the volume of shares traded closed higher with an exchange of 279.22 million shares worth N2.08 billion in 3,576 deals.
This was in contrast with a turnover of 140.61 million shares valued at N1.61 billion traded in 3,895 deals on Tuesday.
Jaiz Bank Plc was the most active stock during the day, trading 115.13 million shares worth N100.14 billion.
It was followed by First Bank of Nigeria Holdings (FBNH) with an account of 39.96 million shares valued at N431.5 million, while United Bank for Africa (UBA) traded 14.66 million shares worth N104.32 million.
AIICO Insurance sold 13.91 million shares valued at N7.68 million, while Japaul Gold and Ventures traded 13.59 million shares worth N4.91 million.
The Nigerian Exchange Ltd. (NGX) on Tuesday extended losing streak, making the benchmark index down by 2.26 per cent.
The News Agency of Nigeria reports that the All-Share Index (ASI) dipped 1,139.02 points or 2.26 per cent to close at 49,350.71 against 50,489.73 posted on Monday.
Also, the market capitalisation shed N614.35 billion to close at N26.62 trillion compared with N27.23 trillion achieved on Monday.
Consequently, the Year-to-Date return dropped to 15.53 per cent.
The downtrend was impacted by losses recorded in large and medium capitalised stocks, amongst which are, Dangote Cement and MTN Nigeria.
Market breadth closed negative, with 16 gainers and 11 losers.
Prestige Insurance and NEM Insurance recorded the highest price in percentage terms, with a gain of 10 per cent each to close at 44k and N3.74 per share, respectively.
Ellah Lakes followed with a 9.78 per cent to close at N3.93 per share, while Multiverse Mining and Exploration gained 9.75 per cent to close at N2.06 per share.
Ikeja Hotel appreciated by 9.28 per cent to close at N1.06 per share.
Conversely, Conerstone Insurance led the losers’ chart with a loss of 9.33 per cent to close at 68 per share.
Dangote Cement followed with 9.06 per cent to close at N241, while Japaul Gold and Ventures depreciated by 8.11 per cent to close at 34k per share.
Sovereign Trust Insurance dropped 7.41 per cent to close at 25k, while Stanbic Bank lost 6.45 per cent to close at N29 per share.
Also, the total volume traded closed with an exchange of 140.61 million shares valued at N1.6 billion achieved in 3,895 deals.
Transactions in the shares of Japaul Gold and Ventures topped the activity chart with 3.2 million shares valued at N8.95 million.
AIICO Insurance followed with 14.8 million shares worth N8.84 million, while Sterling Bank traded 14.3 million shares valued at N21.41 million.
Sovereign Trust Insurance sold 10.1 million shares worth N2.58 million, while Guaranty Trust Holding Company (GTCO) accounted for 7.85 million shares worth N160.97 million.
The stock market closed trading activities on Monday on a negative note as sell-offs returned and making the market capitalisation decreased by N125.45 billion.
The N125.45 billion difference made the market to close at N27.23 trillion from N27.36 trillion posted on Friday and represented 0.46 per cent decrease.
Sell-offs in all the industrial and consumer goods sector led to the decrease in the market.
The All-Share Index (ASI) dropped by 0.46 per cent to close at 50,489.73 points from 50,722.33 points recorded on Friday.
Consequently, this indicates a year-date-date return of 18.20 per cent.
Japaul Gold and Ventures led the gainers with 8.82 per cent to close 37k per share.
This is followed by Honeywell Flour Mill with 5.73 per cent to close at N2.95 per share, while Cornerstone Insurance Company gained by 5.63 per cent to close at 75k per share.
Also, Lasaco Assurance appreciated by 5.38 per cent to close at 98k per share and UCAP rose by 4.49 per cent to close at N12.80 per share.
On the other hand, RT Briscoe was last with a decline of 10 per cent to close at 36k per share.
Industrial & Medical Gases followed with 9.84 per cent to close at N8.25 per share.
Skyway Aviation Handling Company and Ellah Lakes fell by 9.6 per cent each to close at N5.65 and N3.58 per share, respectively Also, Caverton declined by 1.09 per cent to close at N6.84 per shares.
FBN Holdings recorded the highest volume of 74.6 million shares sold at 820.15 millionMultiverse Mining & Exploration followed with N20.5 million shares traded at N38.53 millionAccess Holdings transacted 12.3 million share worth N111.16 while AIICO Insurance sold 11.6 million shares valued at N219.15.Zenith Bank sold 10.23 million share worth N35.99 millionThe market turnover increased to N2.12 billion from N1.93 billion posted on Friday.
The market breadth was negative as 10 stocks advanced and 15 declined.
Also, First Bank of Nigeria Holding (FBNH) recorded the highest volume of trade and the highest value of trade for the day.
AIICO Insurance Plc. declared in Lagos on Saturday that it recorded a Gross Written Premium (GWP) of N45.5 billion in the first half of 2022. The company’s unaudited report showed that the GWP increased by 21.4 per cent compared with the N37.481billion recorded in the corresponding period of 2021. The insurance firm said it earned Gross Premium income of N40.573 billion which indicated a 17.9 per cent increase from the N34.435 billion earned in the corresponding period of 2021. “GWP grew by 21.4 per cent year-on-year to N45.5 billion in the half of 2022 compared to N37.5 billion recorded in the comparative period of 2021. “This was due to a year-on-year increase of 39.4 per cent in General Insurance to N15.5 billion compared to N11.1 billion recorded in the first half of 2021. “Life Insurance premiums increased by 14.2 per cent year-on-year to N29.6 billion compared to N25.9 billion recorded in the corresponding period of 2021. “Underwriting income from our Health Maintenance Organisations increased by 31.4 per cent year-on-year to N599.9 million compared to N456.4 million recorded in the comparative period under review,’’ it stated.
According to the underwriter, its operating income in Asset Management declined by 9.5 per cent year-on-year to N697.6million compared to N770.5 million recorded in the corresponding period of 2021. AIICO stated that its profit before income tax from continuing operations increased by 146.9 per cent year-on-year to N2.2 billion in first half of 2022 compared to N908.6 million recorded in the first half of 2021. It added that its profit before income taxes across the group and its subsidiaries increased year-on-year contributing to the reported increases for the period.
According to the underwriting firm, this was due to improved top line and investment performance for the period compared to what it did in the first half of 2021. “AIICO also completed the sale of its stake in AIICO Pensions, recording a profit from discontinued operations of N2.9 billion.
“As a result, profit for the interim period rose by 51.4 per cent to N4.9 billion in the first half of 2022 from N3.3 billion recorded in the first half of 2021,’’ it also stated.
Commenting on the result, Mr Babatunde Fajemirokun, Managing Director and Chief Executive Officer, AIICO Insurance said the half year result was a testament to the resilience of its business model and focus.
He said the company’s unaudited results represented the firm’s performances for the interim period ended June 30 2022. Fajemirokun added that the insurer had created products that its customers needed to navigate uncertain periods, trusting that the company would be there when they need it.
AIICO Insurance Plc. has been in operation in Nigeria for some 50 years.
The Nigerian equity market extended loses on Thursday, as the capital market closed on a negative note, making the market capitalisation to stand at N27.28 trillion.
The market shed N6.83 billion, representing 0.03 per cent when compared with N28.29 trillion recorded on Wednesday.
The negative performance was driven by continued sell-offs of stocks of BUA Cement, Dangote Sugar, Transcorp and Fidelity Bank among others.
Similarly, All-Share Index (ASI) closed 0.03 per cent lower at 50,582.30 points from 50,594.97 points posted at the previous trading.
Consequently, the year-to-date (YTD) return fell to 18.41 per cent.
Market breadth closed positive at as 24 stocks advanced and 16 declined.
The current market capitalisation of the Nigerian Stock Exchange is N27.3 trillion.
A total of 130.45 million shares valued at N1.62 billion were exchanged in 3,993 deals.
PZ Cussons Nigeria led the gainers with 10 per cent share price appreciation closing at N9.35 per share.
Honeywell Flour Mill followed by 9.64 per cent to close at N2.73 per share, while Stanbic IBTC Holdings rose by 9.15 per cent to close at N31.Wapic Insurance went up by 8.11 per cent to close at 40k per share and Sovereign Insurance increased by eight per cent to close at 27k per share.
However, Multiverse Mining & Exploration led the losers by 10 per cent at N1.71 per share.
The next, which is Lasaco Assurance, declined by 7.07 per cent to close at 92k, while FTN Cocoa Processors lost by 6.25 per cent to close at 30k per share.
BUA Cement depreciated by 4.51 per cent to close at N58.25 per share.
Also, Unity Bank declined by 4.44 per cent to close at 43k per share.
Analysis of today’s market activities showed trade turnover declined compared to the previous session, with the value of transactions decreasing by 61.08 per cent.
A total of 130.45 million shares worth N1.622 million in 3,993 deals.
Aiico Insurance recorded the highest volume of 16.3 million traded shares worth N9.38 million, followed by Transcorp with 11.2 million shares sold at N12.92 million.
Access Holdings traded 9.74 million shares worth N87.63 million.
Consolidated Hallmark Insurance transacted 7.49 million shares valued N4.65 million, while Japaul Gold sold 6.89 million shares worth N2.14 million.
AIICO led the volume chart with 16.32 million shares, while MTNN led the value chart in deals worth N403.58 million.
Investors at the Nigerian stock market gained N364.39 billion, following the rise in equity capitalisation by 1.35 per cent on Tuesday.
The equity capitalisation rose from N26.94 trillion recorded on Monday to close at N27.3 trillion.
Also, the All-Share Index (ASI) was up by 675.72 points to close with 50,626.04 points compared to 49,950.32 points recorded the previous day.
The year-to-date (YTD) return fell to 18.52 per cent.
Overall, market breadth closed positive as 19 stocks appreciated while nine others declined.
Honeywell Flour Mill led the gainers with 9.66 per cent share price appreciation closing at N2.27 per share.
Jaiz Bank followed by 9.46 per cent to close at 81k per share, while Caverton Offshore Support Group rose by 8.18 per cent to close at N1.19 per share.
Also, Japaul Gold and Ventures increased by eight per cent and 7.56 per cent each to close at 27k and N1.85 per share respectively.
On the losing side, McNichols’s share price depreciated by 9.76 per cent to close at 74k per share.
Wapic Insurance next by 9.76 per cent to close at 37k per share, while Chams fell by eight per cent to close at 23k per share.
Nigerian Exchange Group dropped by 2.73 per cent to close at N21.35 per share.
Also United Bank for Africa (UBA) declined by 2.08 per cent to close at N7.05 per share.
Investors parted with N2.86 billion for 129.17 million shares in 4,706 deals.
This is higher to N2.27 billion raised on 176.05 million shares in 4,965 deals on Monday which represents 27 per cent decline in volume, 26 per cent improvement in turnover.
FBN Holdings recorded the highest volume of 14.6 million traded shares worth N159.56 million.
It is followed by Multiverse Mining & Exploration which traded 9.48 million shares at N18.56 million.
Guaranty Trust Holding Company (GTCO) sold 9.37 million shares worth N191.03 million, while Zenith Bank traded 9.29 million shares at N196.25.AIICO sold 64 million shares at N3.77 million.
The Maritime and Offshore Award (The OMIS) is set to honour organisations and professionals who have distinguished themselves in the maritime sector.
The Chief Executive Officer of the OMIS, Mr Femi Da-silva, made this known in a statement on Tuesday in Lagos.
Da-silva said that the organisations were nominated by industry players due to their exemplary commitment to the progress of the sector.
“The commitment is via investment, community service, technology innovation, and other notable investments while impacting the environment positively.
“They all deserve to be honoured to serve as an impetus for others to make sacrificial investments and impact in the maritime sector,” he said.
He said that organisations shortlisted in different categories for the Maritime and Offshore Award (The OMIS) 2022 were Samsung Heavy Industries (SHIN), Starzs Investment, SIFAX Group and NLNG Ship Management Ltd (NLSM).
Da-silva said that others were Integrated Oil and Gas, Brisktrade, Comet Shipping, APM Terminals, OnePort365, Trucks Transit Parks Ltd., Lloyd’s Register and Nigerian Navy. “Organisations in the various corporate categories of the award are Niger Dock, Shipside Dry Ltd., Bureau Veritas, American Bureau of Shipping, BW Offshore, Diolits Marine Services, MEDLOG Transport & Logistics, Ocean Deep Services Ltd, LTT Coastal & Marine Services Ltd. “Also among are ENL Consortium, Niger Benue Transport Company Ltd, ECM Terminals, Charkin Maritime Academy, KOBO360, Peak Shipping Agency, Bricks Limited, Lead Way Assurance, AIICO General Insurance, NEM Insurance, Allianz Nigeria Insurance,” he said.
Da-silva noted that individuals nominated for the award are eminent maritime executives and professionals including Former Managing Director, Nigerian Port Authority, Adebayo Sarumi; Former Minister of Interior, Capt. Emmanuel Iheanacho; Chairman, Starzs Investment, Greg Ogbeifun.
Others he listed as President of the Nigerian Maritime Law Association, Mrs Olufunke Agbor, SAN; Chief Executive Officer, LADOL, Dr Amy Jadesimi; National President, Women in Energy, Oil and Gas (WEOG) Nigeria, Dr Oladunni Owo. A former Director-General of the Nigerian Chamber of Shipping, Mrs Ify Akerele, also a member of the Panel of Judges for the Award, expressed excitement over the growing visibility of the impact made in the maritime sector.
“The award is part of all our collective achievement in the sector as it inspires more commitment to best practice, so I encourage all to support the initiative,” she said.
The OMIS Award aims to serve as a catalyst for the continued development of the sector through the appreciation of the most silent but incredible work that is being done by stakeholders.
It aims to highlight innovations and achievements in the field as well as raise awareness and beam the searchlight on important issues that do not always get the attention they deserve, and subsequently promote further improvement.
The award will hold on Sept. 24 at the Lagos Oriental Hotel.
NGX witnesses bearish position as CBN hikes benchmark interest rate Equities By Olawunmi Ashafa Lagos, July 19, 2022 The nation’s equities market recorded a bearish position, following the benchmark interest rate that was increased by the Monetary Policy Committees meeting of the Central Bank of Nigeria (CBN) on Tuesday.
Losses in Accesscorp, MTN Nigeria, United Bank for Africa (UBA) and International Breweries made the market into the negative position.
The Monetary Policy Rate (MPR) which is the benchmark interest rate was increasedto 14 per cent, while the Cash Reserve Ratio (CRR) was held at 27.50 per cent and Liquidity Ratio was retained at 30 per cent.
The All-Share Index (ASI) of the Nigerian Exchange Ltd.
(NGX) decreased by 0.02 per cent to 52,308.88 points from 52,319.94 points posted on Monday.
Consequently, the year-to-date gain of the index fell to 22.46 per cent.
Analysts at Vetiva Dealing and Brokage said, “Following the decision of the Central Bank of Nigeria to raise the Monetary Policy rate by 100bps, we are likely to see further bearish sessions as investors continue to trade cautiously.” Also, the market capitalisation decreased by N59.66 billion to N28.21 trillion from N28.21 trillion at the previous session.
Performance across sub-sector gauges was largely positive.
The NGX Insurance Index, NGX Index and the NGX Industrial Index rose by 0.86 per cent, 0.79 per cent and 0.19 per cent respectively, while the NGX Banking Index and the NGX Consumer Goods Index fell by 0.41 per cent and 0.13 per cent respectively.
The market breadth was equal as 16 stocks advanced and 16 stocks declined.
RTBriscoe dominated the gainers’ table in percentage terms, gaining 10 per cent, to close at 44k per share.
Glaxosmith followed with 9.02 per cent to close at N6.65 while Conerstone Insurance rose by 6.45 per cent to close at 66k per share.
Courtville Business Solution garnered 6.38 per cent to close at 50k, while FTNCocoa appreciated by 6.06 per cent to close at 35k per share.
On the other hand, Multiverse led the losers’ chart in percentage terms, dropping 9.50 per cent to close at 17k per share.
Japaul Gold followed with a decline of 7.41 per cent to close at 2k, while Academy Press lost seven per cent to close at 14k per share.
Caverton lost 6.57 per cent to close at 9k per share, while UPDC dropped by 4.03 per cent to close at 5k.
Conversely, market activity was mixed as the volume of stocks traded gainedby 76.85 per cent to 205.64 million units.
Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 74.28 million shares worth N556.84 million.
Accesscorp followed with 16.09 million shares valued at N146.45 million, while AIICO traded 14.1 million shares worth N8.9 million.
FBN Holdings sold 12.82 million shares valued at N140.5 million, while GTCO transacted 8.88 million shares worth N190.49 million.
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.’
The stock market closed on Wednesday negative as the market capitalisation decreased by N183 billion to N28.451 trillion from N28.634 trillion.
The All Share Index (ASI) also declined by 0.64 per cent to 52,775.40 points from 53,114.65 points recorded on Tuesday.
The decline was attributed to selloffs in MTN Nigeria stocks, and some Tier-1 bank stocks; First Bank of Nigeria Holdings (FBNH), Zenith Bank and Union Bank.
Consequently, the year-to-date (YTD) return fell to 23.55 per cent.
Market breadth closed negative as 26 stocks were on the laggard’s log while 11 on the leaders table.
Breakdown of the price movement chart shows that Tripple G recorded the highest gain to lead the gainers’ chart with 9.20 per cent to close at 95k per share.
LearnAfrica trailed with 5.49 per cent to close at N2.50 while Unity Bank rose by 2.13 per cent to close at 48k per share.
AIICO also rose by 1.56 per cent to close at 65k while Livestock inched up by 1.33 per cent to close at N1.52 per share.
On the other hand, Meyer led the losers’ chart, dropping by 10 per cent to close at N2.79 per share.
Linkage Assurance dropped by 8.93 per cent to close at 51k, while Union Bank Insurance dipped by 7.69 per cent to close at N6 per share.
International Breweries lost by 6.12 per cent to close at N6.90 while FBNH dipped by 5.71 per cent to close at N9.90 per share.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions declining by 23.76 per cent.
A total of 188.1billion units of shares valued at N2.36bn were exchanged in 4,890 deals.
UBA was the toast of investors, accounting for 36.42 million shares valued at N278.56 billion.
Guaranty Trust Holding Company (GTCo) came second with 24.39 million shares worth N531.3 million, while FBNH sold 17.62 million shares valued at N175.82 million.
Sterling Bank accounted for 14.28 million shares worth N21.91 million, while Zenith Bank transacted 12.84 million shares valued at N286.83 million.