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The Nigerian Exchange Ltd. (NGX) on Friday gained N18 billion or 0.7 per cent as market capitalisation closed at N24.112 trillion from N24.094 trillion recorded on Thursday.
Also, the All-Share Index (ASI) increased by 32.48 basis points or 0.7 per cent to close at 44, 269.18 as against 44,236.70 posted the previous day.
Consequently, the year-to-date (YTD) return rose to 3.63 per cent.
Buying interest in stocks of GEREGU and United Bank for Africa (UBA) was the sole driver of the market’s performance.
A breakdown of the price movement table showed that FTN Cocoa topped the gainers’ table with a gain of 9.68 per cent to close at 34k per share.
Regency Alliance Insurance and Linkage Insurance trailed with a gain of 8.33 per cent each to close at 26k, and 29k per share, respectively.
Geregu Power was up by 8.21 per cent to close at N120, while Trans Nationwide Express appreciated by 8.11 per cent to close at 80k per share.
Conversely, Custodian Insurance led the losers’ table, dropping by 9.23 per cent to close at N5.90 per share.
Chams followed with a loss of eight per cent to close at 23k, while Academy Press declined by 6.67 per cent to close at N1. 26 per share.
Jaiz Bank decreased by 5.05 per cent to close at 94k, while Cap fell by 4.79 per cent to close at N16.90 per share.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 132 per cent.
A total of 663.82 million shares valued at N4.42 billion were exchanged in 3,417 deals compared with 139.24 million shares valued at N1.60 billion exchanged in 3, 421 deals on Tuesday.
FTNCocoa recorded the highest volume of 350.24 million shares to close at N108.59 million, followed by Access Holdings which traded 190.37 million shares valued at N1.52 billion.
Fidelity Bank sold 43.27 million shares at N177.42 million and Guaranty Trust Holding Company (GTCO) transacted 19.64 million share at N345.68 million.
Also, Geregu Power sold 134.41 million share worth N1.38 billion.
NewsSourceCredit: NAN
Equity market: indices gain by 0.15%
Equity market: indices gain by 0.15%
Equity
By Olawunmi Ashafa
Lagos, Oct. 24, 2020 The Nigerian Exchange Ltd. (NGX) resumed the week on a positive note with N36 billion gain due to bargain-hunting in shares of MTN Nigerian Communications (MTNN) and seven other companies.
The market capitalisation increased by N36 billion or 0.15 per cent to close at N24.217 trillion from N24.181 billion at the previous session.
Also, the All Share Index (ASI) rose by 64.90 points or 0.15 per cent to close at 44,461.63 from 44,396.73 recorded on Friday.
The upturn was as a result of gains recorded in medium and large capitalised stocks, amongst which are: MTNN, Beta Glass Nigeria, Lafarge Africa, Ardova and Red Star Express Plc.
Analysts at United Capital Plc said, “We expect bearish sentiment to continue to dominate the market as investors stay off equities and take advantage of the rising interest rates in the fixed income market.
“However, we may see some bargain hunting in stocks that have underlying fundamentals as investors look to take position ahead of the Q3, 2022 earning season.
”
Market sentiment, as measured by market breadth was, however, negative as 18 stocks lost relative to eight gainers.
Red Star Express recorded the highest price gain of 8.22 per cent to close at N2.37, per share.
Beta Glass followed with a gain 5.90 per cent to close at N43.95, while Wapic Insurance rose by 5.88 per cent to close at 36 kobo, per share.
Lafarge Africa went up by 2.73 per cent to close at N22.55, while Ardova appreciated by 2.19 per cent to close at N14.00, per share.
On the other hand, Unilever Nigeria led the losers’ chart by 10 per cent to close at N10.80, per share.
NEM Insurance followed with a decline of 9.50 per cent to close at N4.00, while Lasaco Assurance depreciated by 4.60 per cent to close at 83k, per share.
Regency Alliance Insurance declined by 4.17 per cent to close at 23k, while Sovereign Trust Insurance depreciated by 3.85 per cent to close at 25 k, per share.
The total volume of trades declined by 23.9 per cent to 72.328 million units, valued at N2.169 billion, and exchanged in 2,887deals.
Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 11.352 million shares valued at N11.929 million.
Nigerian Exchange Group (NGX Group) followed with 5.611 million shares worth N120.060 million, while Guaranty Trust Holding Company (GTCO) traded 5.277 million shares valued at N97.319 million.
Sovereign Trust Insurance traded 4.120 million shares valued at N1.051 million, while Fidelity Bank transacted 3.923 million shares worth N14.433 million.
NewsSourceCredit: NAN
Trading activities on the Nigerian Exchange Ltd. (NGX) rebounded marginally on Thursday by N7 billion, halting three consecutive days of bearish trend due to sustained bargain-hunting.
Specifically, the market capitalisation which opened at N24.139 trillion rose by N7 billion or 0.03 per cent to close at N24.146 trillion.
Also, the All-Share Index increased by 14.06 points or 0.03 per cent to close at 44,332.21 against 44,318.15 achieved on Wednesday.
As a result, the year-to-date (YTD) return stood at 3.78 per cent,
The gains were driven by price appreciation in large and medium capitalised stocks amongst which are Dangote Suga, WAPCO and Stanbic Bank.
Consequently, market sentiment was flat with 17 stocks recording gains and losses, respectively.
CWG led the gainers’ table in percentage terms, gaining 10 per cent each to close 80k per share
Livestock Feeds and BOC Gases trailed with 9.59 per cent to close at 80k per share.
UPDC Real Estate Investment followed with a gain of 8.93 per cent to close at N3.05, while Japaul Gold and Ventures grew by 7.69 per cent to close at 28k per share.
WAPIC Isurance rose by 5.88 per cent to close at 36k, while Dangote Sugar increased by 3.92 per cent to close at N15.90 per share.
On the other hand, Beta Glass Company led the losers’ chart in percentage terms, losing 9.98 per cent each to close at N46.10 per share.
Aluminium Extrusion Industries shed 9.72 per cent to close at N7.20 per share.
Mutual Benefits Assurance and RTBriscoe dipped by 9.68 per cent each to close at 32k per share, respectively.
Regency Alliance Insurance dropped by 7.69 per cent to close at 26k per share.
Analysis of today’s market activities showed that trade turnover closed lower with the value of transactions down by 12.87 per cent.
The total volume of shares traded grew by 23.7 per cent with an exchange of 199.22 million shares worth N3.201 billion exchanged in 2,909 deals.
This was in contrast with a total of 525.01 million shares worth N5.34 billion transacted in 5,965 deals on Tuesday.
Fidelity Bank topped the activity chart with 39.36 million shares valued N149.02 million.
Guaranty Trust Holding Company (GTCO) came second with 83.19 million shares worth N15.4 million, while Japaul Gold and Ventures accounted for 6.8 million shares valued N1.85 million.
Jaiz Bank sold 4.44 million shares worth N3.89 million, while Access Holdings transacted 4.35 million shares valued at N35.44 million.
NewsSourceCredit: NAN
The Nigerian Exchange Ltd. (NGX) declined further on Wednesday as market capitalisation depreciated by N570 billion or 2.31 per cent, to close at N24.139 trillion from N24.709 trillion on Tuesday.
Also, the All-Share Index (ASI) fell by 1, 048.17 points or 2.31 per cent to 44, 318.15 from 45, 366.32 recorded at the previous trading.
The market breath ended negative with 17 stocks on the losers’ charts, while 16 stocks gained.
Fidelity Bank led the gainers with 34k to close at N3.83 per share.
Jaiz Bank followed with an appreciation of six kobo to close 91k per share.
Mutual Banefits Assurance rose by two kobo to close at 31k, while AIICO garnered three kobo to close at 57k per share.
Oando rose by 20k to close at N4.60 per share.
Conversely, Regency Alliance Insurance led the loser’s chat with a depreciation of 7.41 per cent to close at 25k per share.
Unity Bank followed dropping by 6.98 per cent to close at 40k per share, while Access Bank Holding lost by 5.14 per cent to close at N8.30 per share.
Airtel Africa declined by N145.80 to close at N1,312.20, while MRS shed N1.40 to close at N12.95 per share.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 61 per cent.
A total of 165.35 million shares valued at N3.67 billion were exchanged in 3,183 deals.
In highest volume category, FBNH Holding shares recorded 48.09 million traded shares valued at N461.77 million.
It was followed by Guaranty Trust Holding Company (GTCO), which sold 18.55 million shares worth N344.43, while Sterling Bank holding transacted 8.28 million shares valued at N12.79.
Also, Chams traded 7.67 million shares valued at N2.13 million, while Zenith Bank transacted 6.32 shares worth N128.88 million.
NewsSourceCredit: NAN
The market capitalisation of the Nigerian Exchange Ltd (NGX) dropped by N655 billion, following the hike in the nation’s inflation rate to 20.77 per cent.
The News of Nigeria reports that the National Bureau of Statistics (NBS) on Monday announced the inflation rate for September, standing at 20.77 per cent as against 20.5 per cent in August.
The market capitalisation lost N656 billion or 2.53 per cent to close at N25.254 trillion from N25.909 trillion recorded on Friday.
Similarly, the All Share Index (ASI) decreased by 1,203.09 basis points or 2.53 per cent to close at 46,365.95 basis points compared with 47, 569.04 posted on Friday.
The downturn was impacted by losses recorded in Airtel Africa Plc.
Similarly, the stock market’s weak performance was driven by selloffs in Airtel Africa, depreciating by 10 per cent.
Analysts at United Capital Plc said bargain hunting would continue as investors looked forward to the third quarter ended September, thus cherry-picking stocks with great underlying fundamentals.
“However, we maintain that the broader equities market will remain in a lull pending the release of Q3, 2022 results,” United Capital said.
However, market breadth closed positive, with 14 gainers versus five losers.
PZ Cussons Nigeria recorded the highest price gain of 9.52 per cent to close at N9.20, per share.
University Press followed with a gain 9.33 per cent to close at N1.64, while Courteville Business Solutions appreciated by 4.35 per cent to close at 48 kobo, per share.
Cutix went up by 3.50 per cent to close at N2.07, while Wapic Insurance appreciated by 2.86 per cent to close at 36 kobo, per share.
On the other hand, Airtel Africa led the losers’ chart by 10 per cent to close at N1,620.00, per share.
Sovereign Trust Insurance followed with a decline of 7.14 per cent to close at 26 kobo, while AIICO Insurance went down by 7.02 to close at 53 kobo, per share.
Dangote Sugar Refinery lost 2.80 per cent to close at N15.60, while Fidson Healthcare shed 2.51 per cent to close at N8.94, per share.
The total volume traded rose by 10.89 per cent to 137.983 million shares, worth N4.317 billion, and traded in 3,234 deals.
Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 33.715 million shares valued at N609.863 million.
Courteville Business Solutions followed with 26.138 million shares worth N12.545 million, while Fidelity Bank traded 19.980 million shares valued at N69.022 million.
Sterling Bank traded 8.930 million shares valued at N13.767 million, while United Bank for Africa (UBA) transacted 6.526 million shares worth N45 million.
NewsSourceCredit: NAN
The Nigerian bourse rebounded on Friday with market capitalisation gaining N24 billion or 0.09 per cent to close at N25.909 trillion in contrast with N25.885 trillion posted on Thursday.
Similarly, the All Share Index grew by 44.66 points or 0.09 per cent to 47, 569.04, compared with 47,524.38 achieved on Thursday.
The upturn was impacted by gains recorded in large capitalised stocks, amongst which are: MTN Nigeria, Airtel Africa and Seplat.
Analysts at Vetiva Securities Ltd. said, “Another positive outing today, this time with improvement in market sentiment.
While we still expect cautious trading sessions next week, we are likely to see more cherry-picking action across board.
”
Market breadth closed positive as 14 stocks appreciated while eight declined.
Honeywell Flour Mill led the gainer’s table with 9.86 per cent to close at N2.34 per share.
WAPIC Insurance followed with a gain of 9.38 per cent to close at 35k, while Sovereign Trust Insurance grew by 7.69 per cent to close at 28k per share.
Livestock Feeds advanced by 6.39 per cent to close at N1.17 per share.
Guaranty Trust Holding Company (GTCO) gained by 5.60 per cent to close at N17.90 per share.
On the other hand, Academy Press led the laggard’s table, depreciating by 9.66 per cent to close at N2.34 per share.
Chams followed with a loss of 7.14 per cent to close at 26k, while Red Star Express declined by 6.09 per cent to close at N2.16.
Also, Nigerian Breweries depreciated by 4.03 per cent to close at N46.45 per share.
FTN Cocoa Processors fell by 3.51 per cent to close at 27k.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 104 per cent.
A total of 123.43 million shares valued at N4.27 billion were exchanged in 3,101 deals.
NewsSourceCredit: NAN
NAN ) Dr Segun Agbaje , CEO, Guaranty Trust Holding Company (GTCO) Lagos, has advocated for an inclusive digitilisation among graduates, to help equip them with the required technological drive to reduce unemployment .
He also said such digitised skills would help in bridging the digital divide concept in the country .
Agbaje said this at the sideline of the Redeemers University’s 14th Convocation Lecture on Wednesday in Ede, Osun .
According to him, digital innovation has provided a competitive edge for most companies to strive in an emerging global challenges.
“Digital innovation is fast becoming common place with the world now, depending on artificial intelligence straight through processing and reboots.
”
The CEO reported the World Bank as saying “Nigerian graduates are exploring diverse work oppotunities amidst low job creation”.
He said that digital technology was essential in organised private sector for graduates to strive which is sacrosant.
Agbaje implored graduates to find career in IT to enable them fit into any competitive driven sector of the economy.
Earlier, the Vice -Chancellor, Redeemers University, Ede, Prof. Anthony Akinlo , said the convocation had become an integral part of the university because of its intellectual values and reinforcement of town and gown relationship.
Akinlo advised the graduating students to dish into the digitised world and get themselves equipped with the required skills.
He said redeemers university operation was IT driven with the provision of state-of-the art supporting equipment.
Akinlo, however, said such huge investment had reflected its seamless e-learning admission process , human resources and financial transactions, among others.
(NAN )
NewsSourceCredit: NAN
The Nigerian Exchange Ltd., (NGX) on Thursday moved 140.67 million shares worth N2.52 billion in 4,371 deals as the indices declined by 3.23 per cent.
This was in contrast with 135.52 million shares valued N2.22 billion transacted in 4,041 deals on Wednesday.
Guaranty Trust Holding Company (GTCO) was the most active stock accounting for 27.73 million shares worth N471.49 million.
It was trailed by Sterling Bank with an account of 25.43 million shares valued at N39.04 million while Zenith Bank sold 14.4 million shares worth N276.45 million.
Transcorp traded 13.21 million shares valued N13.82 million and Geregu Power transacted 4.96 million shares worth N586.76 million.
The market capitalisation decreased by N859 billion or 3.23 per cent to N25.741 trillion from N26.6 trillion recorded on Wednesday.
Also, the All-Share Index (ASI) depreciated by 1,515.81 points to close at 47, 260.89 as against 48,836.70 achieved on Wednesday.
Geregu Power led the gainers table increasing by 9.91 per cent to close at N120.90 per share.
Livestock Feeds followed with a growth of 9.8 per cent to close at N1.12, while Cutix added by eight per cent to close at N2.16 per share.
NAHCO rose by 3.92 per cent to close at 53k, while First City Monument Bank appreciated by 3.83 per cent to close at N3.25 per share.
On the other hand, Airtel Africa topped the losers chart dropping by 10 per cent to close at N1,800 per share.
Presco trailed with a loss of 9.99 per cent to close at N128.35, while Okomu Oil dropped 9.98 per cent to close at N169.50 per share.
Honeywell Flour Mill was down by 8.06 per cent to close at N2.11, while Red Star Express dipped by 8.62 per cent to close at N8.02 per share
NewsSourceCredit: NAN
Trading closed on the floor of the Nigerian Exchange Ltd. (NGX) Wednesday with market capitalisation losing N227 billion or 0.09 per cent to close at N26.6 trillion from N26.373 trillion on Tuesday.
The All-Share Index (ASI) also lost 43.04 points or 0.09 per cent to close at 48,836.70 compared with 48,879.74 posted on Tuesday.
The market’s weak performance was driven primarily by extended selloffs in Tier-one banks such as Guaranty Trust Holding Company, (GTCO), FBN Holding, Zenith Bank and Access Holding.
Accordingly, the year-to-date returns moderated to 14.33 per cent.
However, the market closed negative with 12 gainers against 22 laggards.
Multiverse Mining and Exploration led the gainers’ chart in percentage terms by 9.88 per cent each to close at N4.45 per share.
Red Star Express followed with 9.43 per cent to close at N2.32, while Sovereign Trust Insurance was up by eight per cent to close at 27k per share.
Japaul Gold and Ventures rose by 7.69 per cent to close at 28k, while Consolidated Hallmark Insurance gained 7.55 per cent to close at 57k per share.
On the other hand, Cadbury led the losers’ chart in percentage terms by 9.93 per cent to close at N12.25k per share.
Northern Nigerian Flour Mills (NNFM) followed with 9.33 per cent to close at N6.80, while PZ lost 9.19 per cent to close at N8.40 per share.
Conerstone Insurance declined 8.93 per cent to close at 51k, while Unity Bank shed 6.82 per cent to close at 41k per share.
The total volume traded decreased by 22 per cent to 153.52 million units valued at N2.22 billion exchanged in 4,041 deals.
This was in contrast with 173.46 million shares worth N2.39 billion traded in 4,926 deals on Tuesday.
Transactions in the shares of Chams topped the activity chart with 25.497 million shares valued at N1.362 million.
Guaranty Trust Holding Company followed with 19.465 million shares worth N341.013 million, while Sterling Bank traded 9.944 million shares valued at N42.610 million.
Geregu Power traded 8.500 million shares valued at N275 million, while Transnational Corporation of Nigeria (Transcorp) transacted 7.155 million shares worth N42.174 million.
NewsSourceCredit: NAN
The equity market recorded a loss of N78 billion or 0.29 per cent on Tuesday as market capitalisation closed at N26.373 trillion compared with N26.451 trillion posted on Friday.
Similarly, the All-Share Index dipped by 144.42 points or 0.29 per cent to close at 48, 879.74 from 49,024.16 recorded on Friday.
Selloffs in Tier-one banks such as Zenith Bank, Access Holding, FBN Holding and Guaranty Trust Holding Company (GTCO) were the primary drivers of the market’s weak performance.
As a result, the year-to-date (YTD) return fell to 14.43 per cent.
Analysts at Vetiva Securities Ltd. said, “We expect another mixed day of trading tomorrow, amid bargain hunting activities across board as investors continue to tread cautiously in the market.
”
Overall there were nine gainers and 21 losers, with Multiverse Mining and Exploration leading the gainers’ chart with 9.76 per cent to close at N4.05 per share.
RTBriscoe followed with a rise of 8.82 per cent to close at 37k, while NGX Group gained by 7.5 per cent to close at N21.50 per share.
AIICO Insurance rose by 5.77 per cent to close 55k per share.
Africa Prudential appreciated by four per cent to close at N5.20.
Conversely, International Breweries led the losers’ chat with a depreciation of 9.09 per cent to close at N4.50 per share.
Red Star Express declined by 7.83 per cent to close at N2.12, while Sovereign Trust Insurance went down by 7.41 per cent to close at 25k per share.
Japaul Gold and Ventures fell by 7.14 per cent to close at 26k per share.
Also, Consolidated Hallmark Insurance lost by 7.02 per cent to close at 53k per share.
A total of 125.95 million shares valued at N3.07 billion were exchanged in 4.145 deals.
GTCO recorded the highest volume of 17.19 million shares traded worth N1.26 billion.
Zenith Bank followed, having sold 14.39 million shares valued at N283.88million.
United Bank for Africa(UBA) traded 10.67 million shares worth N73.19 million, while NGX Group sold 8.35 million shares amounting to N173.92 million.
Also, Chams sold 6.78 million shares worth 1.87 million.
NewsSourceCredit: NAN
