Crucial indices of the Nigerian Exchange Ltd. (NGX) downgraded further on Thursday, dropping by 0.29 per cent following selloffs in highly capitalised stocksThe market capitalisation shed N78 billion or 0.29 per cent to close at N26.723 trillion against N26.05 trillion on Tuesday.
On market movers, the weak performance was driven by selloffs in stocks of BUA Cement, MTNN as well as Acess Bank Holdings and Okumu Oil.Similarly, the All-Share Index which opened at 49.691.17 dipped by 144.79 points or 0.29 per cent to close at 49,546.38.N.
E.M. Insurance Company recorded the highest loss to lead the laggards’ table, dropping by 9.98 per cent to close at N3.97 per share.
Okomu Oil came second with a loss of 9.96 per cent to close at N27.50, while University Press dropped by 9.91 per cent to close at N15.50 per share.
Lasaco Assurance depreciated by 9.57 per cent to close at N28.70, while Caverton Business solutions also declined by 3.96 per cent to close at N1.05 per share.
Conversely, FTN Cocoa Processors led the gainers’ table, increasing by 10 per cent to close at 33k per share.
Regency Alliance Insurance followed with a gain of 8.7 per cent to close at N52.55, while Prestige Assurance Company gained 8.33 per cent to close at N3.99 per share.
Red Star Express appreciated by 5.88 per cent to close at N9.50, while Multiverse Mining and Exploration a chalked up by 8.70 per cent to close at N2.10 per share.
The volume of shares traded closed lower as investors bought and sold 146.99 million shares worth N2.65 billion in 3,180 deals.
This was against the N4.12 billion on 128.79 million shares exchanged in 3,492 deals on Wednesday.
FBN Holdings was the most active stock during the day, trading 39 million shares worth N431.89 million.
United Bank for Africa followed with an account of 13 million shares valued at N91.23 million, while Access Bank traded 39.22 million shares worth N80.41million.
Guaranty Trust Holding sold 6.51m shares worth N132.16 million, while Stanbic IBTC Bank exchanged 6.1million shares worth N172.86 million.
Bullish sentiment returned to the Nigerian stock market on Tuesday following investors’ interest in Zenith Bank, Union Bank and Flour Mills of Nigeria, which ensured the first gain of the week.Specifically, the market capitalisation garnered N43 billion or 0.16 per cent to close at N26.811 trillion from N26.768 trillion on Tuesday.Also, the All-Share Index advanced by 80.03 points or 0.16 per cent to close at 49,709.46 against 47,629.43 achieved on Tuesday.Accordingly, the year-to-date returns increased to 16.71 per cent.Overall, the market breadth closed negative as 10 stocks advanced against 22 that declined.Cutix drove the gainers’ chart in percentage terms by 7.5 per cent to close at N2.15 per share.Lasaco Assurance followed with a gain 5.88 per cent to close at N1.08, while Union Bank rose by 3.45 per cent to close at N6 per share.Academy Press went up by 2.97 per cent to close at N2.08, while BUA Cement appreciated by 3.63 per cent to close at N54.60 per share.On the other hand, UPDC Real Estate Investment Trust led the losers’ chart in percentage terms by 9.86 per cent to close at N3.20 per share.PZ Cussons Nigeria followed with 9.27 per cent to close at N9.30 per share.Courtville Business Solutions shed 8.93 per cent to close at 51k, while Japaul Gold and Ventures lost 8.11 per cent each to close at 34k.Also, WAPIC declined by 6.82 per cent to close at 41k per share.Also, the total volume traded decreased by 25.02 per cent to 204.16 million units valued at N1.64 billion and exchanged in 3,643 deals.Transactions in the shares of FBN Holdings topped the activity chart with 36.83 million shares valued at N396.18 million.E-Tranzact International followed with 30 million shares worth N68.4 million, while United Bank for Africa (UBA) traded 20.52 million shares valued at N143.68 million.Access Holdings traded 20.09 million shares valued at N171.5 million, while Eterna transacted 12.31 million shares worth N86.13 million.NewsSourceCredit: NAN
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.
First Bank of Nigeria (FBN) workers under the aegis of Employee Giving and Volunteering Scheme on Saturday, donated surgical equipment for free Vesico Vaginal Fistula (VVF) repairs in Sokoto state.
The News Agency of Nigeria reports that the support was part of the Start Performing Acts of Random Kindness (SPARK) initiative by the workers.
Alhaji Adamu Gambo, Group Head, Northwest II Group of FBN, said the 2022 SPARK amplification event targetted fistula patients at Maryam Abacha Women and Children Hospital, Sokoto.
Gambo said that the initiative involved the staff donating money and creating time to execute noble engagements in the society.
“The initiative focuses on creating and reinforcing attitudes which go beyond meeting people’s material needs but to show compassion, civility and charity,” he said.
He explained that first bank places premium on corporate responsibility and sustainability as it remains committed to impacting positively on its host communities.
”We are proud of being woven into the fabric of the society.
“This is a wholesome approach that involves meeting the needs of our stakeholders both presently and in the future.
”Our corporate responsibility approach, structurally delivers value along the core pillars of education, health and welfare,” he said.
Gambo said his team identified Maryam Abacha Women and Children Hospital due to its consistency in rendering VVF services to victims.
”We admire your strength, tenacity, resilience and infectious disposition to improve the quality of individuals’ lives.
“We urge the hospital’s management to view the equipment as a token of love and kindness while we hope to render more assistance in the future,” he said.
The Chief Medical Director of the hospital, Dr Bello Lawal, commended the staff for the donation, pledging that the equipment would be judiciously utilised.
“VVF is an abnormal opening between the bladder and the vagina which results in continuous and unremitting urinary incontinence.
“The disease is among the most distressing complications of gynecologic and obstetric procedures.
“The victims are classified among the most vulnerable in the society as they suffer stigmatisation and ostracisation by their families and communities,” he said.
The CMD however noted that VVF was preventable and curable while its victims are re-integrated into the society after adequate treatment and psychological care.
Trading activities at the Nigeria equity market closed on positive posture, as investors raked in N81.01 billion gain on Friday.
Similarly, the gain made the market capitalisation to close at N27.358 trillion from N27.276 trillion recorded on Thursday.
Also, the All-Share Index (ASI) of the Nigerian Exchange Ltd. rose by 190.03 points or 0.28 per cent to 50,722.33 points from N50,582.30 points it was at the previous trading.
Consequently, this indicated a year-to- date return of 18.74 per cent.
The market breadth was positive as 23 stocks advanced and nine declined.
On the performance level, Eterna led the gainers with 10 per cent share price appreciation closing at N7.15 per share.
Multiverse Mining & Exploration followed by 9.94 per cent to close at N1.88 per share.
Japaul Gold and Ventures rose by 9.68 per cent to close at 34k per share, while PZ Cussons Nigeria grew by 9.63 per cent to close at N10.25 per share.
Also, Jaiz Bank increased by 8.86 per cent to close at 86k per share.
On the other hand, Unilever Nigeria led with depreciation by 10 per cent to close at N13.50 per share.
Skyway Aviation Handling Co. was the next, dropping by 8.76 per cent to close at N6.25 per share.
Guinness Nigeria fell by 8.29 per cent to close at NN83 per share, while Consolidated Hallmark Insurance went down by 7.69 per cent to close at 60k per share.
Regent Alliance Insurance depreciated by 7.41 per cent to close at 25k per share.
Honeywell Flour Mill was the most active stock, traded with the highest volume of 22.02 million units of shares worth N64.08 million.
It was followed by Guaranty Trust Holding which transacted 21.7 million units of shares valued at N445.68 millionFBN Holdings sold 11.3 million units of shares at N123.78 and Zenith Bank transacted 10.17 million units of shares worth N223.06 million.
Transcorp traded 8.72 million units of shares valued at N9.87 million.
Trading at the Nigerian Exchange Ltd. (NGX) on Wednesday took a plunge, as the market capitalisation closed at N27.29 trillion down from N27.3 trillion recorded on Tuesday.
Consequently, the market lost N16.76 billion, representing 0.06 per cent.
The negative performance was due to sell-offs in some largely capitalised stocks which include BUA Cement, MTN Nigeria and Nigerian Breweries.
Similarly the All-Share Index (ASI) was down by 0.06 per cent to settle at 50,594.97 points from 50,626.04 posted at the previous trading.
The year-to-date (YTD) return fell to 18.44 per cent.
Market breadth closed positive as 22 stocks advanced while 15 others declined.
At the end of the trading session, 121.16 million units of shares worth N4.169 billion were traded in 4,369 deals.
This represents an increase of 45.69 per cent when compared with 129.166 million units of shares worth N2.861 in 4,706 deals.
Lasaco Assurance led the gainers with 10 per cent price appreciation to close at 99k per share.
UPDC followed with 9.71 per cent increase to close at N1.13 per share, while Honeywell Flour Mill went up by 9.69 per cent to close at N2.49 per share.
Also, Chams rose by 8.7 per cent to close at 25k per share and Japaul Gold increased by 7.41 per cent to close at 29k per share.
On the other hand, Learn Africa led the laggards’ chat with a depreciation of 10 per cent at N2.34 per share.
University Press followed by 9.79 per cent to close N2.12 per share.
Cornerstone Insurance and Unity Bank declined by 9.33 per cent and 4.26 per cent each to close at 68k and 45k respectively.
Regent Alliance Insurance dropped by 3.85 per cent to close at 25k per share.
MTN Nigeria recorded the highest volume of 10.4 million traded shares worth N2.4 billion.
FBN Holdings followed with 9.53 million shares traded amounting to N104.18 million, while Zenith Bank sold 8.37 million shares worth N178.85 million.
Also, United Bank for Africa transacted 6.81 million worth of shares at N48.08 million and AccessCorp sold 6.61 million shares worth N58.99 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.
FBN Holdings Plc has announced its unaudited results for the half year ended June 30, 2022 with a gross earnings of N359.
The company stated this in a statement on Friday in Lagos.
The gross earnings indicated an increase of 22.
4 per cent when compared with N293.
4 billion recorded in the preceding period of 2021.
It also recorded a profit before tax of N65.
7 billion from N45.
2 billion achieved in the corresponding period of 2021, an increase of 45.
3 per cent.
The company’s profit for the period stood at N56.
5 billion against N38.
1 billion posted in the comparative period of 2021, representing an increase of 48 per cent.
Commenting on the result, the Group Managing Director, Mr Nnamdi Okonkwo, said that the company demonstrated resilient performance despite the challenging operating environment.
“FBNHoldings continues to demonstrate resilient performance despite the challenging operating environment with an impressive improvement in revenue and profitability.
“For the half year 2022, gross earnings and profit before tax grew by 22 per cent y-o-y and 45 per cent y-o-y to N359.
2 billion and N65.
7 billion respectively.
“Furthermore, we continue to see good progress across our performance metrics, which remain in line with our focus on driving sustainable growth.
“The Group remains committed in its transformation drive, which has resulted in stronger balance sheet and better asset quality with non-performing loans closing at 5.
4 per cent at H1 2022.
“Similarly, risk management capability remains robust across the Group supporting the drive for enhanced earnings for sustainable capital accretion,” Okonkwo said.
He said that the company would continue to deliver sustainable value to its stakeholders.
“Our strategic intent remains unchanged in optimising opportunities that drive growth in revenue, profitability, capital accretion and overall operational efficiency that delivers sustainable value to our stakeholders,” Okonkwo said.
Also speaking, Dr Adesola Adeduntan, the Chief Executive Officer of First Bank of Nigeria Ltd., said that the commercial banking group remained focus on executing key initiatives to position the Group for improved profitability in FY2022, amidst a challenging operating and dynamic regulatory environment in H1 2022.
“Our half-year results further reinforced our drive toward our ‘Quantum Profitability Leap’ agenda.
Our gross earnings are up 22.
6 per cent y-o-y to N338.
5 billion and net interest income up 49.
3 per cent y-o-y to N152.
9 billion, respectively.
“On the back of the impressive growth recorded in our top line, our profit before tax recorded a strong growth of 40 per cent y-o-y to N60 billion.
“Profit after tax also grew by 42.
3 per cent y-o-y to N53.
3 billion as the bank continues to reap the dividends of the successful restructuring of its balance sheet and revamping of our risk management architecture.
“We continue to record progress in driving down our non-performing loan ratio which now stands at 5.
4 per cent at the end of H1 and we are on target to bring it within regulatory limit of five per cent by end of FY 2022,’’ he said.
Adeduntan expressed the confidence that the current momentum of generating impressive returns from the quality risk assets portfolio already created would be sustained.
“We will continue to strengthen our dominant digital banking capabilities in providing best-in-class services to all segments of our customers across all our footprints in sub-Sahara Africa and beyond,” he said.
The equities market of the Nigerian Exchange Ltd.
(NGX) depreciated by N66 billion on Wednesday, driven by gains recorded by 12 companies and 22 losers.
Specifically, the market capitalisation opened for trading at N28.208 trillion to close at N28.142 trillion, a decrease of N66 billion or 0.23 per cent.
Similarly, the NGX All-Share Index depreciated by 0.23 per cent to settle at 52,186.52 basis points from 52,308.88 basis points it opened for trading.
The loss indicated a year-to-date (YTD) increased return of 22.18 per cent.
Also, the market breadth index was negative with 12 gainers against 22 losers.
Computer Wharehouse Group (CWG) and Multiverse Mining and Exploration leads gainers’ chat, closing with 9.88 per cent each to close at 89k and N1.78 respectively.
Academy Press followed with a growth of 9.68 per cent to close at N2.04.
The Initiates Plc (TIP) and RTBriscoe increased by 9.09 per cent each to close at 48k per share, respectively However, NAHCO led the losers’ chart with 10 per cent to close at N5.40, followed by FTNCocoa that depreciated by 8.57 per cent to close at 32k.
Nigerian Breweries down by 6.13 per cent to close at N49.75 as Consolidated Hallmark Insurance dropped by 5.17 per cent to close at 66k.
In addition, Oando sheds 5.50 per cent to close at N5.15 In terms of activity levels, investors exchanged 238 million units of shares worth N3.336 billion in 3,814 deals.
Living Trust Mortgage Bank was the most actively traded 40.91 million units of shares worth N49.09 million, followed by Nigerian Breweries that traded 30.38 million units of share worth N1.51 billion.
United Bank for Africa (UBA) sold 40.91 million units of shares worth N49.09 million, while Accesscorp traded 21.90 million units of share worth N199.09 million.
Also, FBN Holdings sold 17.86 million units of shares amounting to N196.63 million.
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.