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Tag: equities

  • Equities close first quarter trading with N158b gain

    Equities close first quarter trading with N158b gain

    Nigerian equities closed the last trading of the quarter with a net gain of N158 billion as investors sought to close last-minute deals.

    Benchmark indices at the Nigerian Exchange (NGX) indicated average gain of 0.27 per cent, representing net capital gain of N158 billion.

    With more than two advancers for every decliner, the positive overall market position was driven by widespread buy sentiment, especially within the large and medium cap stocks.

    The All Share Index (ASI)- the value-based common index that tracks all share prices at the NGX, rose by 278.42 points or 0.27 per cent to close at 104,562.06 points.

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    Aggregate market value of all quoted equities rose simultaneously by N158 billion to close at N59.121 trillion.

    There were 39 gainers to 16 losers. Morison Industries recorded the highest gain of 10 per cent to close at N1.76 per share. Ikeja Hotel followed with a gain of 9.91 per cent to close at N6.43. Julius Berger rallied by 9.73 per cent to close at N66 per share. Omatek Ventures appreciated by 9.72 per cent to close at 79 kobo while UPDC Real Estate Investment Trust rose by 9.57 per cent to close at N5.15 per share.

  • Profit-taking shaves off N238b from equities

    Profit-taking shaves off N238b from equities

    After rallying net gain of N2.12 trillion last week, Nigerian equities reopened yesterday with a tinge of profit-taking as investors sought to monetise and lock in gains on a day the federal government offered new bonds.

    Investors sought to take profit on several large-cap stocks that had seen substantial capital gains in recent period, especially in the banking, telecommunication and manufacturing sectors.

    The profit-taking came as the federal government offered to raise N450 billion from the investing public in a new debt issuance. The sovereign securities offer risk-free and relatively high returns, thus they are well regarded as safety catch by portfolio managers.

    Benchmark indices at the Nigerian Exchange (NGX) indicated average decline of 0.40 per cent, equivalent to net capital loss of N238 billion.

    The All Share Index (ASI)- the value-based common index that tracks all share prices at the NGX, dropped by 421.91 points or 0.40 per cent to close at 104,663.34 points.

    Aggregate market value of all quoted equities declined simultaneously by N238 billion to close at N59.178 trillion.

    Read Also: Nigerian equities break into new major rally with N2tr gain

    With more gainers than losers, the negative overall market position was due largely to losses recorded by large-cap stocks such as MTN Nigeria Communications (MTNN), Dangote Sugar Refinery, Guaranty Trust Holding Company (GTCO), Zenith Bank and Transnational Corporation (Transcorp).

    There were 27 advancers to 18 decliners. McNichols led the losers’ chart with 9.30 per cent to close at N1.17 per share. DAAR Communications followed with a decline of 8.97 per cent to close at 71 kobo. UPDC lost 7.89 per cent to close at N1.40 per share. MTNN dropped by 7.58 per cent to close at N247.50 while Regency Alliance Insurance depreciated by 5.13 per cent to close at 37 kobo per share.

    On the positive side, Associated Bus Company recorded the highest gain of 9.86 per cent to close at 78 kobo per share.  NEM Insurance followed with a gain of 9.77 per cent to close at N7.30. Livestock Feeds rose by 9.68 per cent to close at N1.70 per share. Nigerian Exchange Group rallied 9.55 per cent to close at N24.10 while Thomas Wyatt Nigeria appreciated by 9.34 per cent to close at N1.99 per share.

  • Equities sustain rally with N273b gain

    Equities sustain rally with N273b gain

    Nigerian equities continued their rally yesterday investors sought to lock into large-cap stocks in the key sectors of the economy.

    Gains in the telecommunications, construction, banking and manufacturing sectors lifted the overall market position to a net gain of 0.47 per cent, equivalent to N273 billion.

    The All Share Index (ASI)- a value-based index that tracks all share prices at the Nigerian Exchange (NGX) rose from its opening index of 103,524.44 points to close at 104,007.31 points.

    Aggregate market value of all quoted equities increased from its opening value of N58.534 trillion to close at N58.807 trillion.

    The overall market position was driven largely by gains recorded by several large-cap stocks including Julius Berger, MTN Nigeria Communications (MTNN), NASCON Allied Industries, Ecobank Transnational Incorporated (ETI) and Guaranty Trust Holding Company (GTCO).

    Read Also: Equities break into major rally with N837b gain

    There were 32 gainers against 23 losers. ETI and Julius Berger recorded the highest gain of 10 per cent each to close at N22 and N67.10 respectively. NEM Insurance followed with a gain of 9.92 per cent to close at N6.65 per share. RT Briscoe advanced by 8.89 per cent each to close at 49 kobo while Omatek Ventures rose by 8.70 per cent to close at 75 kobo.

    On the negative side, Skyway Aviation Handling Company led the losers’ chart with a drop of 10 per cent to close at N22.95 per share. SUNU Assurance dropped by 9.62 per cent to close at N1.41. May & Baker Nigeria declined by 5.90 per cent to close at N5.10 per share. Lasaco Assurance declined by 5.66 per cent to close at N2 while Japaul Gold & Ventures dropped by 4.35 per cent to close at N2.20 per share.

    Total turnover however dropped by 42.21 per cent to 326.945 million shares valued at N9.120 billion in 9,570 deals. Transnational Corporation (Transcorp) led the activity with 38.950 million shares worth N642.226 million. Unity Bank followed with account of 37.202 million shares valued at N69.827 million. GTCO recorded 26.435 million shares valued at N1.172 billion. United Bank for Africa (UBA) posted 21.289 million shares worth N565.245 million while FBN Holdings (FBNH) recorded 18.615 million shares worth N625.689 million.

  • Equities break into major rally with N837b gain

    Equities break into major rally with N837b gain

    Nigerian equities broke into a major rally yesterday as investors stepped up bargain-hunting for value stocks across the sectors.

    As against the previous trading sessions where the positive overall market position was driven by gains by few influential stocks, trading at the Nigerian Exchange (NGX) yesterday showed widespread positive sentiments with more advancers than decliners and higher volume of activities.

    Benchmark indices at the NGX indicated average return of 1.45 per cent, equivalent to net capital gain of N837 billion.

    With nearly three gainers for every loser, the market rally was driven by increased demand across the sectors, especially within mid and large-cap stocks such as MTN Communications Nigeria, Access Holdings, Transcorp Power, Julius Berger, United Bank for Africa (UBA) and Zenith Bank.

    The All Share Index- the value-based common index that tracks all share prices at the NGX, rose by 1.45 per cent to close at 103,524.44 points as against its opening index of 102,044.84 points.

    Aggregate market value of all quoted equities also increased from its opening value of N57.697 trillion to close at N58.533 trillion.

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    There were 35 gainers to 14 losers. UBA recorded the highest gain of 10 per cent to close at N25.30. MTN Nigeria followed with a gain of 9.98 per cent to close at N243.50. Julius Berger rose by 9.71 per cent to close at N61 per share. Access Holdings increased by 9.51 per cent to close at N22.45 while Veritas Kapital Assurance added 9.38 per cent to close at 70 kobo per share.

    On the negative side, Tantalizer led with a drop of 7.89 per cent to close at 35 kobo per share. NASCON Allied Industries followed with a decline of 6.77 per cent to close at N53.70. Morison Industries dropped by 6.62 per cent to close at N1.41. C&I Leasing lost 6.45 per cent to close at N3.48 while Cutix depreciated by 6.30 per cent to close at N2.53 per share.

    The momentum of activities improved with turnover rising by 29.50 per cent to 565.788 million shares valued at N14.234 billion in 11,519 deals. Transnational Corporation (Transcorp) led the activity with 170.718 million shares worth N3.135 billion. Access Holdings followed with 48.572 million shares valued at N1.059 billion. Guaranty Trust Holding Company (GTCO) traded 39.035 million shares valued at N1.658 billion. Jaiz Bank recorded 36.784 million shares worth N72.514 million while UBA saw exchange of 31.957 million shares worth N796.236 million.

  • Equities open with N404b gains

    Equities open with N404b gains

    Nigerian equities continued on the positive streak yesterday as investors upped demand for large and mid-cap stocks with potential for considerable dividend payouts.

    Benchmark indices at the Nigerian Exchange (NGX) indicated average return of 0.70 per cent, equivalent to net capital gain of N404 billion.

    With nearly three advancers for every decliner, the positive overall market position was driven by widespread demand for quoted shares.

    The All Share Index (ASI) – the value-based common index that tracks all share prices at the NGX, rose from its opening index of 101,330.85 points to close at 102,044.84 points.

    Aggregate market value of all quoted equities also rose simultaneously from its opening value of N57.293 trillion to close at N57.697 trillion.

    Read Also: Equities sustain rally with N227b gains

    There were 34 gainers to 16 losers. Honeywell Flour Mills and NEM Insurance recorded the highest gain 10 per cent each to close at N3.74 and N6.05 respectively. Dangote Sugar Refinery followed with a gain of 9.97 per cent to close at N61.20. NASCON Allied Industries rose by 9.92 per cent to close at N57.60 while Wema Bank appreciated by 9.79 per cent to close at N7.85, per share.

    On the negative side, Prestige Assurance led others with a drop of  10 per cent to close at 54 kobo per share. LASACO Assurance followed with a decline of 9.83 per cent to close at N2.11. UACN lost 9.68 per cent to close at N12.60 per share. RT Briscoe dropped by 8.16 per cent to close at 45 kobo while International Energy Insurance depreciated by 7.74 per cent to close at N1.55 per share.

    The momentum of activities also improved with turnover rising by 22 per cent to 436.897 million shares valued at N17.099 billion in 11,344 deals. Guaranty Trust Holding Company (GTCO) led the activity with 96.631 million shares worth N4.024 billion. Transnational Corporation (Transcorp) followed with account of 73.860 million shares valued at N1.231 billion. Access Holdings traded 48.090 million shares valued at N988.350 million.

  • Equities sustain rally with N227b gains

    Equities sustain rally with N227b gains

    •Transcorp Group, FBNH main drivers

    Nigerian equities remained upbeat yesterday as investors continued their scramble for the shares of Transnational Corporation (Transcorp) and FBN Holdings.

    Benchmark indices at the Nigerian Exchange (NGX) closed yesterday with average return of 0.40 per cent, equivalent to net capital gain of N227 billion.

    With more losers than gainers, the positive overall market position remained largely due to investors interests in shares of Transcorp and its newly listed subsidiary, Transcorp Power. FBN Holdings also remained one of the most sought after stocks.

    The All Share Index (ASI)- the common value-based index that tracks all share prices at the NGX, rose by  401.18 points or 0.40 per cent to close at 99,591.64 points.

    Aggregate  market capitalisation of all quoted equities rose by N227 billion to close at N 56.310 trillion.

    There were 18 gainers to 30 losers.  Transcorp Power, which was listed on Monday, remained the most sought after stock, rallying almost the 10 per cent maximum daily allowable price change with a gain  of 9.99 per cent to close at N319.40 per share.  Transcorp followed with a gain of 9.96 per cent to close at N18.99. FBNH advanced by 9.95 per cent to close at N34.25. Africa Prudential rose by 9.49 per cent to close at N7.50 while C & I Leasing appreciated by 9.48 per cent to close at N3.81.

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    On the negative side, Ikeja Hotel and Tantalizers led with a drip of 10 per cent each to close at N6.75 and 36 kobo respectively. NASCON Allied Industries followed with a decline of 9.97 per cent to close at N43.35 per share. Ecobank Transnational Incorporated (ETI) lost 9.97 per cent to close at N43.35, while Livestock Feeds depreciated by 9.82 per cent to close at N1.47.

    The total volume traded rose by 4.61 per cent to 416.478 million shares valued at N19.508 billion in 9,338 deals.  Transcorp led the activity with 67.339 million shares worth N1.279 billion. FBNH followed with account of 47.685 million shares valued at N1.548 billion. Guaranty Trust Holding Company (GTCO) recorded 37.470 million shares valued at N1.555 billion. Transcorp Power posted 36.893 million shares worth N11.784 billion, while United Bank for Africa (UBA) traded 29.754 million shares worth N660.452 million.

  • Equities open with N50b loss

    Equities open with N50b loss

    Nigerian equities reopened yesterday with a negative streak as investors await the decisions on benchmark interest rate by the Central Bank of Nigeria (CBN).

    The Monetary Policy Committee (MPC) of the CBN yesterday began a two-day meeting, during which it’s widely expected the apex bank will hike the Monetary Policy Rate (MPR), the benchmark interest rate.

    Trading at the Nigerian stock market was tight with a tilt towards bargain-hunting, but losses by many large-cap stocks overshadowed the market situation.

    Benchmark indices at the Nigerian Exchange (NGX) closed with average decline of 0.09 per cent, equivalent to net capital depreciation of N50 billion.

    The All Share Index (ASI) – the value-based common index that tracks all share prices at the Exchange, slipped from its opening index of  102,088.30 points to close at 101,995.53 points.

     Aggregate market capitalisation of all quoted equities also declined by N50 billion to close at N55.811 trillion as against its opening value of N55.861 trillion.

    With 28 gainers to 25 losers, the overall market situation was driven largely by losses recorded in medium and large capitalised stocks such as Nestle Nigeria, Presco, Dangote Sugar Refinery, Eterna and Fidson Healthcare.

    On the positive side, NASCON Allied Industries recorded the highest price gain of 10 per cent to close at N66 per share. Juli followed with a gain of 9.83 per cent to close at N2.57.  FBNH Holdings (FBNH) rose by 9.68 per cent to close at N34.00, per share. Wapic Insurance rose by 8.96 per cent to close at 73 kobo while DAAR Communications added 8.86 per cent to close at 86 kobo per share.

    On the negative side, Nestle Nigeria led the losers’ chart by 10 per cent, to close at N990 per share. Eterna followed with a decline of 9.97 per cent to close at N15.80. Fidson Healthcare declined by 9.82 per cent to close at N15.15.

    Read Also: Equities lose N729b amid selloffs

    CWG depreciated by 9.56 per cent to close at N6.15 while SUNU Assurance dropped by 9.09 per cent to close at N1.90 per share.

    The momentum  of activities improved marginally with total turnover rising by 1.14 per cent to 294.325 million shares valued at N6.723 billion in 9,957 deals. FBNH topped the activity chart with 73.835 million shares valued at N2.416 billion. United Bank for Africa (UBA) followed with 20.670 million shares worth N493.051 million. Zenith Bank traded 20.625 million shares valued at N731.406 million.

    Fidelity Bank traded 19.982 million shares valued at N205.396 million, while Veritas Kapital Assurance sold 12.320 million shares worth N8.965 million.

    Analysts at United Capital Plc said they anticipated the bearish sentiments amongst investors to persist in the equities market given the recent developments in the fixed-income market.

    “The impact of the high yields in the fixed-income market will continue to drive sell-offs as investors switch their asset classes to less risky assets.

    “Other headwinds to the equities market are the uncertainties surrounding interest rate decision and the possible ‘hike’ in Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) at their meeting scheduled for the 26th and 27th February, 2024,” United Capital stated.

  • Equities lose N729b amid selloffs

    Equities lose N729b amid selloffs

    Nigerian equities continued on the downward trend yesterday as increased profit-taking transactions overwhelmed the market.

    Benchmark indices at the Nigerian Exchange (NGX) indicated average decline of 1.30 per cent, equivalent to net capital loss of N729 billion.

    With more than five losers for every gainer, the overall market position reflected widespread selloff across the sectors.

    Market analysts said investors appeared to be rebalancing their portfolios towards fixed income market, which has seen improved yields in recent period.

    The All Share Index (ASI)- the value-based common index that tracks all share prices at the NGX,  dropped by 1,332.56 basis point to close at 101,060.67 points.

    Aggregate market value of all quoted equities also declined simultaneouslyto close at N55.299 trillion.

    The market particularly saw steep depreciation in share prices of many mid to large-cap stocks including BUA Cement, Guinness Nigeria, PZ Cussons Nigeria, FBN Holdings (FBNH) and Dangote Sugar Refinery.

    Read Also: Nigerian equities’ return hits N16.9tr on renewed rally

    There were 43 losers to eight gainers. Honeywell Flour Mills led the losers’ chart with 10 per cent to close at N3.60 per share. BUA Cement followed with a decline of 9.98 per cent to close at N142.95. PZ Cussons Nigeria declined by 9.72 per cent to close at N27.30, UPDC Real Estate Investment Trust dropped by 9.32 per cent to close at N5.35 while NEM Insurance declined by 8.63 per cent to close at N6.35.

    On the positive side,  Juli led the gainers with a gain of  9.94 per cent to close at N1.77. Eterna followed with a gain of 6.17 per cent to close at N17.20. Veritas Kapital Assurance rose by 5.97 per cent to close at 71 kobo. Geregu Power increased by 3.68 per cent to close at N985.00 while Tantalizers rose by 2.63 per cent to close at 39 kobo.

    The momentum of activities  slowed down marginally as turnover dropped by 6.46 per cent to 256.157 million shares valued at N6.629 billion in 8,783 deals. Transnational Corporations (Transcorp) led the activity chart with 39.746 million shares worth N528.451 million. United Bank for Africa (UBA) followed with 26.026 million shares valued at N624.495 million. Fidelity Bank traded 25.477 million shares valued at N270.479 million. Zenith Bank traded 21.010 million shares worth N750.540 million while Guaranty Trust Holding Company traded 13.798 million shares worth N535.512 million.

  • Equities halt rally with N856b loss

    Equities halt rally with N856b loss

    • Investors lock profit in bonds

    Nigerian equities took a deep breather yesterday as investors’ scramble to monetize and lock in capital gains overwhelmed the long-running positive market.

    With nine out of every 10 transactions closing in the negative, benchmark indices at the equities market declined by 1.49 per cent, equivalent to net capital loss of N856 billion.

    The All Share Index (ASI)- the value-based common index that tracks all share prices at the Nigerian Exchange (NGX), dropped by 1,564.52 points or 1.49 per cent to close at 103,110.15 points as against its opening index of 104,674.67 points.

    Aggregate market value of all quoted equities dropped simultaneously from its opening value of N57.282 trillion to close at N56.426 trillion, representing a loss of N856 billion.

    The negative overall market situation was due largely to widespread profit-taking trading as investors sought to lock in considerable capital gains in rising fixed-income securities.

    Managing Director, Arthur Steven Asset Management, Mr. Olatunde Amolegbe, said rising bonds’ yields could lead to “shakeout in the equities market in the short run”. Bonds’ yields had risen on Monday as the naira came under intense pressure.

    He however cautioned investors against panic sales noting that the market’s fundamentals remain attractive.

    “It’s natural to see profit-taking and possibly a correction at some point because it is the natural cause of the market,” Amolegbe said.

    Analysts at Afrinvest Securities said they expected the negative trend to continue, citing investors’ sentiment on profit-taking.
    There were 61 losers to seven gainers. Access Holdings, Guinea Insurance, Linkage Assurance, AXA Mansard Insurance, NASCON Allied Industries, Caverton Offshore Support Group and Sterling Financial Holdings Company led the losers with a drop of 10 per cent each to close at N25.20, 54 kobo, N1.17, N5.85, N68.40, N1.80 and N6.30 respectively.

    Read Also: Nigerian equities inch near historic 100,000 index mark

    Guinness Nigeria followed with a drop of 9.96 per cent to close at N63.70 while Transnational Corporation (Transcorp) lost 9.94 per cent to close at N14.40 per share.

    On the positive side, UPDC recorded the highest gain of 8.11 per cent to close at N2.00 per share. Geregu Power followed with a gain of 4.61 per cent to close at N517.80. Wema Bank rose by 1.21 per cent to close at N10.90. Ellah Lakes added 0.99 per cent to close at N3.05 while UPDC Real Estate Investment Trust (UPDCREIT) rallied by 0.81 per cent to close at N6.25 per share.

    The momentum of activities also slowed down as total turnover dropped by 5.94 per cent to 648.953 million shares valued at N11.087 billion in 14,579 deals. Japaul Gold & Ventures topped the activity chart with 59.797 million shares valued at N179.536 million.

    Transcorp followed with 52. 056 million shares worth N763.197 million. Access Holdings traded 46.811 million shares valued at N1.209 billion. United Bank for Africa (UBA) recorded 44.552 million shares valued at N1.233 billion while Oando traded 34.952 million shares worth N496.659 million.

  • Nigerian equities inch near historic 100,000 index mark

    Nigerian equities inch near historic 100,000 index mark

    • Large-cap stocks sustain rally

    Nigerian equities appeared set for another milestone as continuing rally pushed stock market’s benchmark index close to a historic 100,000 index mark.

    The benchmark index yesterday rose by 2.97 per cent or 2,848.85 basis points, with several analysts expecting a similar move to bring Nigeria’s equities gauge to 100,000 index mark today.

    The 100,000 index mark, regarded as another psychological point for the market, represents a new milestone for the market, which had surged past many psychological points since May 2023.

    The All Share Index (ASI)- the value-based common index that tracks all share prices at the Nigerian Exchange (NGX), rose from its opening index of 95,768.12 points to close at 98,616.97 points.

    Aggregate market value of all quoted equities also rose simultaneously from its opening value of N52.408 trillion to close at N53.967 trillion, representing net capital gain of N1.56 trillion.

    With 17 gainers to 58 losers, the positive overall market position was driven mainly by gains recorded by leading companies in cement, oil and gas and telecommunication sectors.

    Seplat Energy and BUA Cement recorded the highest gain of 10 per cent each to close at N2,795.10 and N163.35 respectively. Dangote Cement followed with a gain of 9.99 per cent to close at N651.80 per share. Eterna appreciated by 9.92 per cent to close at N27.70 while Meyer rose by 9.88 per cent to close at N3.56.

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    On the negative side, DEAP Capital Management & Trust, John Holt, May & Baker, Mutual Benefits Assurance, PZ Cussons Nigeria, Veritas Kapital Assurance and The Initiates Plc (TIP) led the losers with a drop of 10 per cent each to close at 81 kobo, N2.70, N7.38, 72 kobo, N31.50, 63 kobo and N2,52 respectively. Transnational Corporations (Transcorp) followed with a loss of 9.99 per cent to close at N16.39 while Jaiz Bank declined by 9.97 per cent to close at N2.80.

    The momentum of activities increased marginally as total turnover rose by 3.56 per cent to 747.515 million shares valued at N16.276 billion in 16,589 deals. Transcorp led the activity chart with 77.711 million shares valued at N1.292 billion. Sterling Financial Holdings Company followed with 72.311 million shares worth N485.730 million. United Bank for Africa (UBA) traded 52.700 million shares valued at N1.580 billion. Access Holdings traded 47.166 million shares valued at N1.353 billion while Zenith Bank transacted 32.027 million shares worth N1.344 billion.

    Most analysts expected the market to remain bullish in the days ahead.

    Analysts at Coronation Asset Management said the positive sentiment could be linked to the traditional January surge as well as investors positioning themselves ahead of results and dividends for 2023.

    Afrinvest Securities stated that the market will “sustain gains in the absence of negative shocks”.