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Tag: Nigerian Stock Exchange (NSE)

  • Investors net worth drop by 0.66% on NSE

    Investors net worth drop by 0.66% on NSE

    Investors net worth on the Nigerian Stock Exchange ( NSE ) on Tuesday dipped by 0.66 per cent due to price depreciation.

    The All-Share Index lost 279.92 points or 0.66 per cent to close at 42,299.56 compared to 42,579.48 achieved on Monday.

    Also, the market capitalisation closed lower at N15.179 trillion as against N15.280 trillion posted on Monday, representing a loss of N101 billion or 0.66 per cent.

    An analysis of the price movement table showed that Seplat for the second consecutive day topped the losers’ table, dropping by N13.50 to close at N657.90 per share.

    International Breweries trailed with a loss of N2.85 to close at N57, while Dangote Cement recorded a drop of N2 to close at N257 per share.

    Lafarge Africa shed N1.30 to close at N50, while Julius Berger was down by N1.10 to close at N24.85 per share.

    Conversely, Nestle led the gainers’ table, gaining N22 to close at N14 per share.

    Total followed with a gain of N15 to close at N232, while Mobil Oil recorded a gain of N3.40 to close at N183.90 per share.

    Conoil improved by N3.15 to close at N35.25, while Cement Company of Northern Nigeria appreciated by N1.35 to close at N18.20 per share.

    In spite of the drop in the market indices, the volume of shares traded closed higher with an exchange of 438.65 million shares worth N8.79 billion transacted in 5,433 deals.

    This was against the 384.26 million shares valued at N5.47 billion traded in 4,774 deals on Monday.

    Transcorp dominated trading activities emerging as the most active stock during the day, exchanging 45.09 million shares worth N93.04 million.

    Diamond Bank followed with an account of 43.35 million shares valued at N105.73 million, while FBN Holdings traded 42.35 million shares worth N490.91 million.

    Fidelity Bank exchanged 40.02 million shares valued at N119.99 million and Access Bank sold 27.39 million shares worth N355.31 million.

    NAN

  • Major oil stocks plummet on NSE

    Major oil stocks plummet on NSE

    Major oil stocks posted price depreciation on the Nigerian Stock Exchange ( NSE ) on Monday just as the market indices recorded marginal growth of 0.02 per cent.

    Seplat dipped N13.70 to close at N571.40 to lead the losers’ table.

    Total trailed with a loss of N11 to close at N217, while Mobil Oil shed N9.50 to close at N180.50 per share.

    Dangote Cement was down by N1 to close at N259, while United Bank for Africa declined by 45k to close at N12.50 per share.

    Conversely, International Breweries topped the gainers’ table, growing by N2.85 to close at N59.85 per share.

    PZ Industries followed with a gain of N1.15 to close at N24.15, while NASCON appreciated by N1.05 to close at N21.60

    Guaranty Trust Bank advanced by 75k to close at N49.35, while Redstar increased by 30k to close at N6.30 per share.

    Consequently, the All-Share Index rose marginally by 8.59 points or 0.02 per cent to close at 42,579.48 compared with 42,570.89 achieved on Friday.

    Similarly, the market capitalisation which opened at N15.277 trillion rose by three billion naira or 0.02 per cent to close at N15.280 trillion.

    Cement Company of Northern Nigeria was the most active stock, trading 134.89 million shares worth N2.25 billion.

    Transcorp followed with an account of 34.15 million shares valued at N71.04 million, while FBN Holdings traded 21.78 million shares worth N250.07 million.

    Access Bank sold 20.58 million shares valued at N 270.03 million, while Fidelity Bank exchanged 20.49 million shares worth N 61.30 million.

    In all, the volume of shares transacted closed higher as investors bought and sold 384.26 million shares valued at N5.47 billion achieved in 4,774 deals.

    This was in contrast with a turnover of 308.43 million shares worth N6.40 billion exchanged in 4,356 deals.

    NAN

  • NSE market indices post marginal growth

    NSE market indices post marginal growth

    Trading activities on the Nigerian Stock Exchange ( NSE ) closed for the week on Friday with a marginal growth of 0.08 per cent, following price appreciation posted by Nestle Nigeria.

    All-Share Index rose marginally by 34.43 points or 0.08 per cent to close at 42,638.83 compared with 42,604.40 achieved on Thursday.

    Also, the market capitalisation grew by N12 billion or 0.08 per cent to close at N15.301 trillion against N15.289 trillion posted on Thursday.

    A breakdown of the price movement indicated that Nestle led the gainers’ table with a gain of N55 to close at N1,400 per share.

    NASCON followed with a gain of N1 to close at N21, while Zenith International Bank garnered 35k to close at N32 per share.

    Transcorp Hotel also appreciated by 35k to close at N7.55, while Cadbury increased by 30k to close at N15.10 per share.

    Conversely, CAP led the losers’ chart, shedding N1.70 to close at N35.25 per share.

    Nigerian Breweries trailed with a loss of 40k to close at N131, while Access Bank was down by 30k to close at N12.60 per share.

    Ecobank Transnational declined by 25k to close at N 19.75, while United Bank for Africa depreciated by 20k to close at N12.15 per share.

    However, the volume of shares traded rose by 32.62 per cent, while the value traded improved by 28.34 per cent when compared with figures recorded on Thursday.

    Investors bought and sold 815.85 million shares worth N8.06 billion in 4,808 deals.

    This was against the 615.18 million shares valued at N6.28 billion traded in 5,904 deals on Thursday.

    Linkage Assurance was the most active stock, exchanging 300.77 million shares worth N246.80 million.

    Trans nationwide Express followed with an account of 199.33 million shares valued at N155.48 million, while International Breweries traded 57.38 million shares worth N3.20 billion.

    Stanbic IBTC sold 31.54 million shares valued at N1.45 billion, while Zenith International Bank traded 27.48 million shares worth N879.24 million.

    NAN

  • Blue chips record price rally on NSE, indices up by 1.03%

    Blue chips record price rally on NSE, indices up by 1.03%

    Some blue chips maintained upward movement on the Nigerian Stock Exchange ( NSE ) on Thursday with Nigerian Breweries leading the gainers’ chart.

    Nigerian Breweries led gainers’ table with a gain of N2.40 to close at N131.40 per share.

    Dangote Cement followed with a gain of N1.50 to close at N259.90, while Lafarge Africa gained N1 to close at N52 per share.

    Stanbic IBTC also grew by N1 to close at N46, while Dangote Sugar Refinery added N1 to close at N22 per share.

    Consequently, the All-Share Index appreciated further by N156 billion or 1.03 per cent to close at 42,604.40 against 42,171.80 achieved on Wednesday.

    In the same vein, the market capitalization, which opened at N15.133 trillion rose by N156 billion or 1.03 per cent to close at N15.289 trillion.

    On the other hand, CAP posted the highest price loss to lead the laggards’ table, shedding N1.90 to close at N36.95 per share.

    NASCON trailed with a loss of 75k to close at N20, while Union Bank of Nigeria was down by 30k to close at N7.55 per share.

    Etranzact depreciated by 25k to close at N4.75, while Caverton also declined by 25k to close at N2.60 per share.

    Also, the volume of shares traded closed higher by 18.14 per cent as investors bought and sold 615.18 million shares worth N6.28 billion in 5,904 deals.

    This was lower than 520.74 million shares valued at N4.72 billion exchanged in 5,694 deals on Wednesday.

    Multiverse was the most active with a turnover of 87.10 million shares worth N31.36 million.

    Skye Bank followed with an account of 65.57 million shares valued at N73.79 million, while Access Bank traded 59.03 million shares worth N766.38 million.

    FCMB Group sold 56.14 million shares valued at N158.29 million, while FBN Holdings traded 39.41 million shares worth N499.04 million.

    NAN

  • NSE loses N370bn on Tuesday

    NSE loses N370bn on Tuesday

    The Nigerian Stock Exchange ( NSE ) on Tuesday sustained seven-day falling streak with the market capitalisation shedding N370 billion in one day.

    The market capitalisation lost N370 billion or 2.41 per cent to close at N14.967 trillion against N15.337 trillion achieved on Monday.

    Similarly, the All-Share Index which opened at 42,737.89 lost 1,029.74 points or 2.41 per cent to close at 41,708.15 following huge losses by some highly capitalised stocks.

    Some financial experts in an interview with our reporter attributed the persistent loss to decline in global stock markets, especially in the U.S. and Europe, contributed to the bearish trend in the market.

    Dr Uche Uwaleke, the Head of Banking and Finance Department, Nasarawa State University Keffi, said investors reactions to the global stock market trend led to sell pressure on the exchange.

    Uwaleke said drop in crude oil price following increased supply and profit taking by investors in respect of over-priced stocks, particularly those of tier 11 banks contributed to the development.

    He said relative uptick in returns from money market securities led to movement of funds from capital market to the money market securities.

    Prof. Sheriffdeen Tella, Professor of Economics, Olabisi Onabanjo University Ago-Iwoye, Ogun said the bearish trend was expected because the stock market usually reacted to economic conditions.

    “This is New Year and the budget is yet to be passed, so money is not yet being released and people need to buy lots of things.

    “Fortunately, the market was bullish recently such that the values of shares went up making it possible for profit taking,” he said.

    Tella said the bearish trend would bring new opportunities for new investors as well as old ones who would want to adjust their financial portfolio.

    He said that these investors would go the market shortly to take advantage of the lower prices of shares.

    “We will start seeing bullish activities in the market again.

    “It is the nature of the market to facilitate between bullish and bearish swings as dictated by market forces,” he said.

    An analysis of the price movement showed that Nestle recorded the highest loss depreciating by N40 to close at N1, 320 per share.

    Dangote Cement trailed with a loss of N13.30 to close at N258.70, while Nigerian Breweries dipped N5.20 to close at N127.80 per share.

    Guinness was down by N5 to close at N105, while International Breweries depreciated by N2.50 to close at N57.50 per share.

    On the other hand, Lafarge Afeica led the gainers’ table growing by N1 to close at N51 per share.

    Zenith International Bank followed with a gain of 60k to close at N30, while Berger Paint gained 45k to close at N9.45 per share.

    Access Bank increased by 45k to close at N12, while Dangote Sugar Refinery advanced by 30k to close at N21 per share.

    The banking sub-sector was the toast of investors with Diamond Bank emerging the most traded, trading 67.69 million shares worth N181.14 million.

    FCMB Group followed with an account of 49.22 million shares valued at N126.18 million, while Fidelity Bank sold 42.78 million shares worth N129.55 million.

    United Bank for Africa traded 39.16 million shares valued at N437.59 million, while FBN Holdings exchanged 32.59 million shares worth N358.64 million.

    In all, the volume of shares traded closed lower with an exchange of 470.52 million shares valued at N3.68 billion transacted in 6,309 deals.

    This was against the 517.44 million shares worth N5.19 billion traded in 5,852 deals on Monday.

    NAN

  • FG reduces exposure in domestic borrowing – DMO

    FG reduces exposure in domestic borrowing – DMO

    The Debt Management Office ( DMO ) says the Federal Government is reducing its exposure in the domestic market to pave way for borrowings by corporate entities.

    Ms Patience Oniha, the DMO’s Director-General, told newsmen in Lagos that government had reduced its exposure in the bond market for corporate entities to raise funds.

    “We are reducing the amount we borrowed in the domestic so that there will be space for corporate bodies,’’ the director-general said.

    She said apart from the government decision to reduce domestic borrowing, the Securities and Exchange Commission ( SEC ) and the Nigerian Stock Exchange ( NSE ) had issued new guidelines and reduced fees for people to borrow.

    Oniha said that apart from issues of infrastructure for trading in fixed income securities, the market regulators had done a lot of ground work to make the market attractive.

    She said DMO was a friend with all regulators, noting that they work in teams and groups to get to “where we are today’’.

    “We want to see varieties of products to be traded in the market apart from government bonds for people to have more varieties of products to trade on.

    “We are expecting development in the market; we want to see corporate bodies to raise bonds in the market for people to have more products to buy apart from the government bonds,’’ Oniha said.

    The director-general said that borrowing from the bond market would make books of corporate entities to be balanced instead of concentrating on banks’ loans.

    She said that the fixed income market had grown when compared with what we had 10 years ago.

    Oniha said that government expected the fixed income market to develop significantly long time ago.

    Read also: DMO to redeem N198b T-Bills

    The director-general had recently said the Federal Government would focus more on external borrowings to reduce debt servicing.

    She said that in order to go forward the debt office would concentrate more on external borrowings at cheaper rates.

    Oniha said that government had decided to borrow more externally to repay Treasury Bills ( TBs ) that mature every now and then.

    “Going forward as we do more borrowing based on the Appropriation Act, what can we do to make sure that debt servicing at least, if it does not come down, remains manageable.

    “We have decided to do more of external borrowings at cheaper rates,’’ Oniha said.

    NAN

  • Rangers International FC to be on Nigerian Stock Exchange soon

    Rangers International FC to be on Nigerian Stock Exchange soon

    Rangers International Football Club of Enugu will soon be floated on the Nigerian Stock Exchange (NSE), an official of the Administrative Commission of Inquiry on Rangers confirmed on Tuesday.

    Based on the submissions mate by the commission, the Enugu State Government will likely divest its shares and stakes in Rangers soon.

    About two months ago the state government had set up the Administrative Commission of Inquiry, which had been looking into the club’s activities.

    The seven-time league champions who won the 2015/2016 title about 32 years after the last time had a poor outing in the 2016/2017 Nigeria Professional Football League (NPFL) season.

    A member of the commission, Norbert Okolie, told NAN on Tuesday that putting the club’s shares at the NSE was part of the major recommendations made by the commission.

    Okolie, who is also the Chairman of Sports Writers Association of Nigeria ( SWAN ), Enugu State, said the commission’s report was submitted to the state governor, Ifeanyi Ugwuanyi, on Friday.

    He said the commission, after duly considering a deluge of memoranda submitted, noted that Rangers being a big brand in the football business should enjoy and leverage on this.

    “This can only be, by lifting the burden of sponsorship from the state government.’’

    Okolie disclosed that the commission also suggested that the club’s ownership should be spread to other South-East states and other lovers of the club.

    “Thirty-five per cent of the shares will be reserved for the Enugu State Government, while 32 per cent will be for the four states of Abia, Anambra, Ebonyi and Imo at 8 per cent each.

    “Twenty-five per cent will be for the general public, six per cent for the Amalgamated Traders Association, one per cent for Rangers Supporters’ Club and one per cent for Ohaneze Ndigbo.

    “This is what was suggested by the commission headed by Prof. Gab Agu,’’ he said.

    Okolie also said the formation of Rangers’ female football club and basketball team were equally recommended by the commission.

    “This is for maximum benefits to be gained by the shareholders and teeming youths of the states in particular and the nation in general,’’ he said

    Ugwuanyi, while receiving the commission’s 52-page report, had promised to present the document for State Executive Committee (SEC) deliberations and quick implementation of recommendations.

    NAN

  • NSE market indicators dip further by 0.08%

    NSE market indicators dip further by 0.08%

    A total of 174.65 million shares valued at N2.83 billion were traded in 3,783 deals on the Nigerian Stock Exchange ( NSE ) on Tuesday.

    These were against the 162.74 million shares worth N1.54 billion traded in 3,225 deals on Monday.

    The News Agency of Nigeria (NAN) reports that the NSE market capitalisation depreciated further by N9 billion or 0.08 per cent to close at N12.012 trillion from N12.021 trillion recorded on Monday.

    The All-Share Index, which opened at 34,873.07, lost 26.25 basis points to close at 34,846.82.

    Seplat led the losers’ chart with a loss of N6.76 to close at N450 per share.

    7UP followed, depreciating by N4.48 to close at N85.82, while Nigerian Breweries dropped N2.01 to close at N167.99 per share.

    Total Oil dipped by N1.9 to close at N223.1, while PZ Cussons depreciated by N1 to close at N24 per share.

    Conversely, Nestle topped the gainers’ table with N23.9 to close at N12228.9 per share.

    It was trailed by GTBank which gained 54k to close at N38.54 per share.

    Stanbic IBTC gained 5k to close at N40, while Unilever appreciated by 2k to close at N42 per share.

    Also, Guinness up by 15k to close at N96.8 per share.

    GTBank was the toast of investors, trading 33.84 million shares worth N1.29 billion.

    FCMB came second, trading 12.58 million shares worth N12.88 million, while FBNH sold 12.53 million shares valued at N65.22 million.

    Mansard traded 11.62 million shares worth N23.12 million, while Zenith Bank sold 10.56 million valued at N232.62 million.

  • Deals on Nigerian Stock Exchange hit N97.08 billion in July

    Deals on Nigerian Stock Exchange hit N97.08 billion in July

    Investors on the Nigerian Stock Exchange (NSE) exchanged 8.66 billion shares valued at N97. 08 billion transacted in 89,911 in July, the News Agency of Nigeria (NAN) reports.

    A monthly data obtained by NAN from the NSE showed that the turnover increased by 12.32 per cent when compared with 7.71 billion shares worth N77. 92 billion traded in 100,895 in June.

    The Financial Services sector was the toast of investors with 7.45 billion shares valued at N68. 24 billion transacted in 51,991 deals.

    United Bank for Africa (UBA) was the most active in the sector having accounted for 2.96 billion shares worth N28 billion in 5,814 deals.

    It was trailed by FBN Holdings with 597.61 million shares valued at N3.57 billion transacted in 7,816 deals.

    A further breakdown of the month’s activity chart indicated that conglomerates industry came third with a turnover of 432.97 million shares worth N895.02 million in 4,249 deals.

    Transcorp was the toast of investors in the sector, accounting for 412.99 million shares valued at N601.78 million achieved in 3,276 deals, while UACN sold 17.11 million shares worth  N290.42 million in 833 deals.

    Consumer Goods sector traded 346.18 million shares worth N15.02 million in 14,083 deals.

    Transactions on NSE in July 2017

    Dangote Sugar Refinery was the toast of investors in the sector with 64.94 million shares valued at N606.24 in 1,156 deals and Dangote Flour Mills transacted 56.08 million shares worth N291.27 million in 1,944 deals.

    Oil and Gas sector trailed with 124.08 million shares worth N3.56 billion exchanged in 8,407 deals.

    Oando dominated activities in the sector with a turnover of 87.56 million shares valued at N659.72 million in 2,886 deals, while Eterna sold 13.12 million shares worth N49.49 million in 599 deals.

    NSE in July 2

    Also, the All-Share Index during the period inched 2,730.27 points or 8.24 per cent to close at 35,847.75 against 33,117.48 achieved in June.

    NSE in July 3

    In the same vein, the market capitalisation which opened at N11.452 trillion rose by N901 billion or 7.87 per cent to close at N12.353 trillion.

    NSE in July 4

    Commenting on the market performance, Mr Ambrose Omordion, the Chief Operating Officer,  InvestData Ltd., attributed the growth to increased confidence of foreign and domestic investors on the strength of improving economic and market fundamentals.

    Omordion said that the fundamentals were driven by the sustained intervention of the Central Bank of Nigeria (CBN) in the nation’s foreign exchange market.

    He said that the creation of foreign exchange products, the import and export, small and medium-scale enterprises windows among others helped to support the continued appreciation of the Naira, thereby ensuring stable exchange rate.

    Omordion, however, called for urgent implementation of the Economic Recovery and Growth Plan (ERGP) to complement CBN’s effort at boosting productivity to create employment and sustain the ongoing recovery.

    Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., said that the seeming positive data that supported the recovery move in the system for the past five months would likely continue with sustained foreign exchange intervention.

    Kurfi said that the apex bank sustained intervention in foreign exchange had boosted liquidity and confidence in the economy.

    Kurfi said that the market outlook for the new month remained mixed as less quarterly and full year were expected.

    He said that the economic recovery needed to be strengthened with the implementation of 2017 budget.

  • Ashaka Cement quits NSE

    Ashaka Cement quits NSE

    Ashaka Cement Plc has voluntarily delisted from the Nigerian Stock Exchange (NSE) for violation of the exchange free float deficiency provision of 20 per cent.

    The company announced its voluntary withdrawal in a statement posted on NSE website by the company’s directors.

    “The Board of Directors of Ashaka Cement Plc has opted for a voluntarily delisting of the company from the NSE in violation of the Exchange’s Free Float Deficiency provision of 20 per cent,’’ the statement read in part.

    It stated that Lafarge Africa Plc currently holds 84.97 per cent of Ashaka Cement, bringing the free float that was tradable on the NSE to 15.03 per cent.

    This is against the 20 per cent stipulated by the Exchange.

    The company opted for voluntary delist to avoid NSE enforcement action of regulatory delisting because the free float deficiency was not likely to be remedied.

    It had decided to operate as an unlisted entity.

    “Besides the free float deficiency, the directors said over the last five years, there has been little or no trading activity with only 0.20 per cent of the shares held by the minority shareholders being traded.

    “Neither the company nor any shareholders are benefiting from the continued listing as shareholders are not getting any exit opportunity. “And their investments have been locked up while they find it difficult to dispose of their shareholding.

    “Moreover, the company is bearing unnecessary cost in complying with its listing obligations,” the directors stated.

    Through the voluntary delisting of AshakaCem, they are exercising a regulatory provision that will shield the company from any enforcement action that the NSE may effect.

    They are also providing an exit consideration to minority shareholders, who do not wish to remain in an unlisted company.’’

    NAN reports that the company had in 2016 notified the NSE of its intention to exit and gave shareholders options.

    The shareholders of Ashaka Cement, who have exercised their option to exit the company prior to the delisting, would receive 57 Lafarge Africa shares for 202 Ashaka shares.

    They will also receive a N2 per share cash consideration.

    On the other hand, shareholders, who do not want to remain in the unlisted Ashaka Cement, would be entitled to receive a payment of N15.74 per share from the company.