The Nation Newspaper

Tag: Nigerian Stock Exchange (NSE)

  • Oando: Confusion trails NSE’s lifting, reversal of technical suspension

    The Nigerian Stock Exchange ( NSE ) on Wednesday lifted the technical suspension placed on Oando shares with the Securities and Exchange Commission ( SEC ), ordering a reversal three hours later.

    Confusion trailed the action of the exchange and SEC with market operators and shareholders calling on the Federal Government to intervene in the matter.

    The exchange, in a letter entitled: “Notification of Lifting of Technical Suspension on the Shares of Oando,” said SEC on April 9, directed it to lift the suspension.

    “We refer to our bulletins of 18, 20 and 23 October, 2017 regarding the directive of the SEC to the Nigerian Stock Exchange to place the shares of Oando Plc on Technical Suspension.

    “Please be informed that on April 9, 2018, the commission directed the Exchange to lift the technical suspension placed on the shares of Oando.

    “On receipt of the commission’s directive, the Exchange put the process in place to lift the technical suspension, including testing on its trading system.

    “Further to the commission’s directive of April 9, please be advised that effective today, April 11, 2018, the Exchange lifted the technical suspension placed on the shares of Oando.

    “Consequently, there is no longer any impediment to price movement in Oando shares.

    “The above is for your information and records update please,” said the Exchange.

    However, three hours after lifting the technical suspension on Oando’s shares, the suspension was reversed by the NSE.

    All efforts by our correspondent to get the reasons for the reversal proved abortive as the Corporate Communications Officers of both the NSE and SEC declined to pick their calls or respond to inquiries.

    Commenting on the issue, Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd. described both regulators’ actions as unprofessional.

    Omordion said SEC and NSE needed to correct the impression on time in order not to dampen investors’ confidence.

    “If this impression is not corrected, the confidence of the investing public in the regulators will start dwindling which will not be good for the market.

    The regulators are expected to have done their due diligence before giving any directive,” he said.

    Concerned Shareholders of Oando Plc had on April 10 urged the Federal Government to prevail on NSE and SEC to lift the technical suspension placed on the shares of the company without any further delay.

    The shareholders at a news briefing in Lagos said that the suspension of Oando’s shares was sending wrong signals to the global community about the seriousness of the Federal Government to attract investments to bolster the economy.

    NSE, on Oct.18, 2017, announced that it had placed the shares of Oando, a public quoted energy company trading on the floor of the NSE, on ‘full suspension for 48 hours.’

    The exchange, thereafter on Oct. 23, 2017, further announced that it had placed the shares of the company on ‘Technical Suspension.’

    The NSE informed the company that the suspension of its shares by the NSE was done in compliance with a directive issued to it by SEC.

    Mr Patrick Ajudua, Head, Concerned Shareholders of Oando, said that the continued suspension of the company’s shares could also send wrong signals about the prevailing operating environment in the country.

    Ajudua said the Federal Government should protect a prosperous company like Oando from going down if it wanted to demonstrate to the investing world its seriousness to attract investors to the country.

    “The continued suspension of Oando is a wrong signal to the global market about the prevailing harsh operating environment in Nigeria.

    “This is at variance with the Federal Government’s initiatives to diversify the economy through increased Foreign Direct Investment,” he said.

    NAN

  • NSE indicators rebound by 0.17%

    The market indicators of the Nigerian Stock Exchange ( NSE ) on Tuesday rebounded by 0.17 per cent following gains by Mobil and Dangote Cement.

    All-Share Index rose by 69.86 points or 0.17 per cent to close at higher at 40,499.04 compared to 40,429.18 posted on Monday.

    Also, the market capitalisation inched N25 billion or 0.17 per cent to close at N14.628 trillion as against N14.603 trillion recorded on Monday.

    An analysis of the price movement table indicated that Mobil led the gainers’ table with a gain of N8.50 to close at N178.50 per share.

    Dangote Cement came second with N3 to close at N255, while International Breweries increased by N2.35 to close at N51. 50 per share.

    Lafarge Africa chalked up N1.40 to close at N42.40, while Dangote Sugar appreciated by 55k to close at N22 per share.

    Conversely, Total recorded the highest loss to lead the losers’ chart, dipping N2.80 to close at N233.80 per share.

    Unilever lost N1.90 to close at N53.10, while Forte Oil dipped N1.40 to close at N38.60 per share.

    Zenith Bank dropped 55k to close at N26. 35, while GT Bank decreased by 50k to close at N43 per share.

    Sovereign Trust Insurance was the toast of investors with an exchange of 82.46 million shares valued at N16.53 million.

    It was followed by Zenith Bank with 43.98 million worth N1.16 billion, while Skye Bank accounted for 37.46 million shares valued at N24.26 million.

    Flour Mills traded 32.23 million shares worth N1.19 billion, while Access Bank achieved a turnover of 30.04 million shares valued at N361.34 million.

    In all, investors bought and sold 388.28 million shares worth N4.21 billion transacted in 4,222 deals, representing an increase of 35.27 per cent.

    This was in contrast with 287.04 million shares valued at N4.95 billion traded in 4,285 deals on Monday.

    NAN

  • NSE: Market capitalisation dips by N150bn due to profit taking

    Activities opened on the Nigerian Stock Exchange ( NSE ) on Monday with a negative trend as the market capitalisation lost N150 billion and volume depreciated by 42.82 per cent.

    The market capitalisation, which opened at N14.753 trillion, shed N150 billion or 1.02 per cent to close at N14.603 trillion, amid losses by blue chips.

    Also, the All-Share Index dipped by 411.98 points or 1.01 per cent to close at 40,429.18 compared with 40,841.14 posted on Friday, April 6.

    The market was weighed down by profit taking by some investors with major blue chips recording price losses.

    Unilever recorded the highest loss to lead the losers’ table, shedding N4.80 to close at N55 per share.

    Lafarge Africa trailed with a loss of N3.20 to close at N41 in spite of N1.50 final dividend declared for the financial year ended Dec. 31, 2017.

    Dangote Cement shed N2.90 to close at N252, while Guinness depreciated by N1 to close at N103.

    Dangote Flour also lost 65k to close at N13.15 per share.

    Analysts attributed the development to sell-off and profit taking on high cap stocks that suffered losses after their share prices were adjusted for dividend declared and some companies that declared unimpressive earnings.

    On the other hand, GlaxosmithKline led the gainers’ table during the day, growing by N10 to close at N30 per share.

    Champion Breweries followed with a gain of 20k to close at N2.48, while Cement Company of Northern Nigeria also gained 20k to close at N18 per share.

    Fidson Healthcare added 12k to close at N5.80, while Axa Mansard grew by 12k to close at N2.52 per share.

    Similarly, the volume and value of shares traded dropped by 42.82 per cent and 15.38 per cent, respectively.

    Consequently, investors bought and sold 287.04 million shares valued at N4.95 billion transacted in 4,285 deals.

    This was in contrast with a turnover of 501.96 million shares worth N5.85 billion exchanged in 6,108 deals on Friday.

    FBN Holdings was the most active in volume terms, accounting for 29.58 million shares worth N359.09 million.

    Skye Bank followed with 23.12 million shares valued at N15.04 million, while FCMB Group traded 22.95 million shares worth N53.94 million.

    Zenith International Bank sold 22.49 million shares valued at N606.94 million, while Nigerian Breweries exchanged 20.64 million shares worth N2.58 billion.

    NAN

  • NSE: Seplat loses N35 to lead losers’ chart

    Some major oil stocks recorded price depreciation on the Nigerian Stock Exchange ( NSE ) on Tuesday with Seplat leading the losers’ table.

    Seplat lost N35 to close at N665.10 per share.

    Mobil came second with a loss of N7.50 to close at N177, while Total was down by N3.70 to close at N240 per share.

    International Breweries dipped N2.85 to close at N54.15, while Guinness depreciated by N2 to close at N103 per share.

    Consequently, the market capitalisation shed N76 billion or 0.51 per cent to close at N14.899 trillion against N14.975 trillion.

    Also, the All-Share Index opened at 41,454.30 dropped 211.06 points or 0.51 per cent to close at 41,243.24.

    On the other hand, Nestle led the gainers’ table during the day, improving by N19 to close at N1, 339 per share.

    GlaxosmithKline followed with a gain of N2.85 to close at N30.90, while Forte Oil gained N1.90 to close at N41.90 per share.

    MRS Oil increased by N1.35 to close at N28.35, while Cement Company of Northern Nigeria added 90k to close at N19.65 per share.

    Japaul Oil and Maritime was the toast of investors, exchanging 80.29 million shares worth N58.08 million.

    Zenith International Bank followed with an account of 59.85 million shares valued at N1.79 billion, while FBN Holdings traded 24.33 million shares worth N301.22 million.

    Transcorp exchanged 22.22 million shares worth N42.42 million, while Access Bank sold 16.691 million shares valued at N189.70 million.

    In all, the volume of shares traded dropped by 7.12 per cent with an exchange of 352.89 million shares worth N4.14 billion in 4,807 deals.

    This was against the 379.93 million shares valued at N5.13 billion transacted in 4,913 deals.

    NAN

  • NSE market capitalisation loses N83bn despite corporate actions

    Activities on the Nigerian Stock Exchange ( NSE ) closed in red on Wednesday with a loss of 0.54 per cent in spite of dividends declared by Zenith Bank and GT Bank.

    Zenith International Bank and GT Bank had announced dividends of N2.45 and N2.40 per share respectively for the financial year ended Dec. 31, 2017.

    In spite of the corporate actions, the market capitalisation dipped N83 billion or 0.54 per cent to close at N15.325 trillion against N15.408 trillion.

    Also, the All-Share Index which opened at 43,073.45 lost 233.93 points or 0.54 per cent to close at 42,839.52, amid loses by some highly capitalised equities.

    A breakdown of the losers’ chart indicated that Nestle topped the table with a loss of N20 to close at N1, 380 per share.

    Total trailed with a loss of N3 to close at N246, while Dangote Sugar Refinery declined by N1.10 to close at N21.20 per share.

    Cadbury shed 85k to close at N17.10 while NASCON and Allied Industries lost 70k to close at N21.30 per share.

    Conversely, Nigerian Breweries recorded the highest gain, appreciating by 90k to close at N130.90 per share.

    Stanbic IBTC followed with a gain of 55k to close at N49.15, while Dangote Cement increased by 40k to close at N268.80 per share.

    Fidson Healthcare added 24k to close at N5.14, while UAC property advanced by 15k to close at N3.15 per share.

    Similarly, the volume of shares transacted dropped by 8.44 per cent as investors bought and sold 373.52 million shares valued at N6.85 billion achieved in 5,220 deals.

    This was against the 407.96 million shares worth N6.12 billion transacted in 5,247 deals on Tuesday.

    The financial service sector remained the toast of investors with Fidelity Bank emerging the most active, accounting for 45.80 million shares worth N131.49 million.

    Zenith International Bank followed with 36.34 million shares valued at N1.11 billion, while FBN Holdings sold 34.11 million shares worth N388.95 million.

    Mansard Insurance traded 25.26 million shares valued at N69.73 million, while FCMB Group accounted for 25 million shares worth N63.34 million.

    NAN

  • NSE indices up by 0.04%

    Key indicators of performance at the Nigerian Stock Exchange ( NSE ) closed on Tuesday with a marginal growth of 0.04 per cent.

    The market capitalisation increased by N6 billion or 0.04 per cent to close at N15.408 trillion compared with the N15.402 trillion recorded on Monday.

    Similarly, the All-Share Index, which opened at 43,056.51, rose by 16.94 points or 0.04 per cent to close at 43,073.45.

    An analysis of the price movement table indicated that Nestle led the gainers’ table, appreciating by N20 to close at N1,400 per share.

    Mobil Oil followed with a gain of N8.70 to close at N183.70, while Dangote Cement recorded a gain of N3.40 to close at N268.40 per share.

    Total added N2.90 to close at N249, while Guinness appreciated by 80k to close at N99.80 per share.

    Analysts attributed the gains to investors taking position by buying shares of the companies for future gain, rather than a reaction to the improved audited results released by some companies so far.

    They said that the results were already discounted resulting to mixed performance being experienced in the market.

    On the other hand, Unilever recorded the highest loss to lead the losers’ chart, dropping by N3 to close at N57.80 per share.

    GlaxosmithKline trailed with a loss of N1.10 to close at N20.90, while Dangote Sugar Refinery depreciated by N1.05 to close at N22.30 per share.

    NASCON declined by N1 to close at N22, while Zenith International Bank shed 55k to close at N30.45 per share.

    Also, the volume of shares traded closed lower with an exchange of 407.96 million shares worth N6.12 billion transacted in 5,247 deals.

    This was in contrast with 831.39 million shares valued at N10.57 billion achieved in 5,651 deals on Monday.

    Zenith Bank was the toast of investors, accounting for 70.26 million shares worth N2.19 billion.

    It was followed by FBN Holdings having accounted for 53.02 million shares valued at N605.31 million, while Mansard Insurance traded 50.36 million shares worth N137.48 million.

    United Bank for Africa exchanged 27.38 million shares valued at N336.15 million, while Skye Bank traded 19.07 million shares worth N16.93 million.

    NAN

  • Zenith Bank declares N785.19bn gross earnings in 2017

    Zenith International Bank has announced gross earnings of N745.19 billion for the financial year ended Dec. 31, 2017.

    The figure represented a growth of 46.69 per cent over N507.99 billion posted in 2016.

    This is contained in the bank’s audited result released by the Nigerian Stock Exchange ( NSE ) in Lagos on Monday.

    Zenith also announced a final dividend of N2.45 per share, amounting to N21.08 billion for the financial year ended Dec 31, 2017.

    The dividend, to be ratified by the bank’s shareholders at the next Annual General Meeting (AGM). Would bring the total dividend for the year to N2.70 against N1.70 paid in 2016.

    Profit before tax stood at N203.41 billion in contrast to the N156.75 billion posted in 2016, an increase of 29.8 per cent.

    Its income tax expenses dropped to N25.53 billion from N27.09 billion on a net profit of N177.93 billion against N129.65 billion in 2016, representing an increase of N48.281 billion or 37.23 per cent.

    The bank’s impairment loss on financial assets rose three-fold to N98.23 billon from N32.35 billion in 2016.

    Fee and commission income rose to N90.143 billion from N68.44 billion in 2016.

    Other operating income dropped slightly to N22.44 billion from N26.59 billion, depreciation of property and equipment increased to N12.43 billion from N9.68 billion in 2016.

    Amortisation of intangible assets stood at N1.63 billion from N1.44 billion, while personnel expenses rose to N64.46 billion from N59.33 billion, just as operating expenses climbed to N148.35 billion from N104.08 billion.

    NAN

  • NSE trading opens for the week with a loss of 0.26%

    Trading on the Nigerian Stock Exchange ( NSE ) opened for the week on Monday with a drop of 0.26 per cent due to price depreciation of some blue chips.

    The All-Share Index dipped 111.35 points or 0.26 per cent to close at 43,056.51 as against 43,167.86 achieved on Friday.

    Also, the market capitalization, which opened at N15.507 trillion lost N105 billion or 0.68 per cent to close at N15.402 trillion.

    A breakdown of the price movement chart showed that Unilever recorded the highest, shedding N1.40 to close at N60.80 per share.

    Nestle trailed with a loss of N1 to close at N1, 380, while NASCON was down by 90k to close at N23 per share.

    Cadbury depreciated by 80k to close at N17.60, while United Bank for Africa went down by 60k to close at N22.30 per share.

    On the other hand, Total led the gainers’ table for the day, growing by N4.10 kobo to close at N246.10 per share.

    Dangote Sugar came second with a gain of 85k to close at N23.35, while Nigerian Breweries gained 50k to close at N130 per share.

    UACN added 45k to close at N17.95, while Ecobank Transnational increased by 20k to close at N20 per share.

    Also, the volume of shares traded closed lower as investors bought and sold 831.39 million shares valued at N10.57 million on 5, 651 deals.

    This was in contrast with a total of 1.54 billion shares worth N19.71 billion traded in 4,599 deals on Friday.

    FBN Holdings emerged investors delight, accounting for 425.60 million shares valued at N5.29 billion.

    Zenith International Bank followed with an exchange of 78.96 million shares worth N2.45 billion, while Japaul Oil and Maritime traded 64.77 million shares valued at N64.01 million.

    Regency Alliance Insurance exchanged 41.64 million shares worth N13.80 million, while Unity Kapital traded 24.53 million shares valued at N7.72 million.

    NAN

  • NSE moves 403.14m shares worth N9.14bn

    NSE moves 403.14m shares worth N9.14bn

    Investors on the Nigerian Stock Exchange ( NSE ) on Friday traded 403.14 million shares valued at N9.14 billion exchanged in 4,570 deals.

    This was against a turnover of 371.25 million shares worth N4.87 billion achieved in 4,570 deals on Thursday, an increase of 8.6 per cent.

    United Bank for Africa ( UBA ) drove the activity chart accounting for 74.17 million shares valued at N977.38 million.

    It was followed by Zenith Bank, which traded 44.33 million shares worth N1.39 billion, while GT Bank sold 38 million shares valued at N1.84 billion.

    Transcorp exchanged 24.09 million shares worth N47.82 million and FBN Holdings achieved a turnover of 21. 98 million shares valued at N247.96 million.

    Seplat for the second day running recorded the highest price gain to lead the gainers’ table growing by N25.10 to close at N700.10 per share.

    Total followed with a gain of N11.50 to close at N242.50, while Presco grew by N2.75 to N72.75 per share.

    Lafarge Africa garnered 90k to close at N51, while NASCON improved by 85k to close at N23.80 per share.

    As a result, the All-Share Index rose by 32.85 points or 0.08 per cent to close at 42,876.23 compared to 42,843.38 posted on Thursday.

    Also, the market capitalisation which opened at N15.374 trillion inched N29 billion to close at N15.403 billion.

    On the other hand, Nestle Nigeria topped the losers’ chart dropping by N42 to close at N1, 400 per share.

    Mobil Nigeria Plc trailed with a loss of N7 to close at N177, while Guinness was down by N5.20 to close at N99.70 per share.

    PZ Industries shed 85k to close at N23.30, while International Breweries depreciated by 65k to close at N57 per share.

    NAN

  • NB, Dangote Cement record loses on NSE, drag index by 1.12%

    NB, Dangote Cement record loses on NSE, drag index by 1.12%

    Nigerian Breweries and Dangote Cement recorded price depreciation on the Nigerian Stock Exchange ( NSE ) on Thursday, dragging the indices down by 1.12 per cent.

    Both companies led the losers’ chart with a loss of N4.90 per share.

    Specifically, Nigerian Breweries lost N4.90 to close at N131, while Dangote Cement also dipped N4.90 to close at N264.90 per share.

    Lafarge Africa dropped N1.80 to close at N50.10, while Total depreciated by N1 to close at N231 per share.

    Guaranty Trust Bank also declined by N1 to close at N48 per share.

    Consequently, the All-Share Index, which opened at 43,330.54, shed 487.16 points or 1.12 per cent to close at 42,843.38.

    Also, the market capitalisation lost N175 billion or 1.13 per cent to close at N15.374 trillion compared with N15.549 trillion on Wednesday.

    On the other hand, Seplat, due to improved 2017 earnings released to the market, led the gainers’ table, growing by N14.50 to close at N675 per share.

    NASCON followed with a gain of 95k to close at N22.95, while International Breweries gained 65k to close at N57.65 per share.

    Unilever added 35k to close at N51.55, while Union Bank of Nigeria advanced by 25k to close at N6.75 per share.

    A breakdown of the activity chart indicated that Transcorp was the most active stock during the day, trading 40.35 million shares worth N80.98 million.

    Zenith International Bank followed with an account of 40.04 million shares valued at N1.27 billion, while GT Bank traded 31.04 million shares worth N1.51 billion.

    Wapic Insurance exchanged 30.26 million shares valued at N19.67 million, while Royal Exchange traded 29.74 million shares worth N9.52 million.

    In all, the volume of shares traded dropped by 35.08 per cent with an exchange of 371.25 million shares valued at N4.87 billion transacted in 4,570 deals.

    This was in contrast with a total of 571.87 million shares worth N10.80 billion traded in 5,142 deals on Wednesday.

    NAN