Category Archives: Market News

The trio of Universal Insurance Plc, United Bank for Africa Plc, and Guaranty Trust Holding Company (GTCO) Plc topped the activity chart of the Nigerian Exchange (NGX) Limited last week, selling 865.658 million shares worth N12.138 billion in 4,786 deals.

They accounted for 25.70 per cent and 28.91 per cent of the 3.369 billion shares worth N41.986 billion traded in the week in 39,764 deals.

The total trading turnover for the week under consideration was lower than the 4.276 billion shares valued at N62.176 billion transacted in the preceding week in 44,344 deals.

Further analysis showed that financial stocks accounted for 2.515 billion units worth N23.030 billion in 19,895 deals, contributing 83.86 per cent and 66.06 per cent to the total trading volume and value, respectively.

Equities in the energy sector followed with 162.226 million units worth N4.174 billion in 2,953 deals, while shares in the conglomerates industry posted a turnover of 148.138 million units valued at N530.633 million in 1,962 deals.

The price movement table had 62 price gainers and 35 price losers, as 59 equities remained unchanged. In the preceding week, the price gainers’ log had 77 members, and the price losers’ had 24 members, as 55 stocks closed flat.

SAHCO gained 44.53 per cent in five days to close at N9.25, FTN Cocoa grew by 40.74 per cent to N1.90, Chams improved by 35.71 per cent to 57 Kobo, Japaul expanded by 32.65 per cent to 65 Kobo, and Golden Guinea Breweries appreciated by 31.13 per cent to N1.39.

On the flip side, Jaiz Bank lost 18.97 per cent to trade at N1.41, Secure Electronic Technology fell by 17.39 per cent to 38 Kobo, C&I Leasing depreciated by 13.78 per cent to N3.88, Sterling Holdings shed 12.88 per cent N2.57, and Ikeja Hotel shrank by 11.76 per cent to N3.00.

The All-Share Index (ASI) and the market capitalisation increased last week by 0.34 per cent to at 59,206.63 points and N32.237 trillion, respectively.

Similarly, all other indices finished higher except NGX Lotus II, which depreciated by 1.26 per cent, as ASeM index closed flat.

Traders of unlisted stocks in Nigeria gained about N12.34 billion on the floor of the NASD Over-the-Counter (OTC) Securities Exchange last week, the 25th trading week of 2023.

This was because the alternative bourse appreciated by 1.36 per cent on a week-on-week basis as the demand for stocks on the platform increased.

Consequently, the market capitalisation of the trading platform increased to N1.038 trillion from the N1.026 trillion it closed in the preceding week, as the NASD Unlisted Securities Index (NSI) went up by 10.08 points to wrap the week at 750.82 points compared with 740.74 points recorded at the previous week.

In the week, there was a 1,833.8 per cent surge in the total value of transactions to N1.5 billion from N80.2 million, the volume of trades similarly jumped by 86.9 per cent to 25.2 million units from 13.5 million units in the previous week, and the number of deals decreased by 15.8 per cent to 96 trades from the 114 trades posted a week earlier.

Central Securities Clearing System (CSCS) Plc, FrieslandCampina Wamco Nigeria Plc, UBN Property Plc, and Purple Real Estate were the price gainers of the week, while Niger Delta Exploration and Production (NDEP) Plc and Afriland Properties Plc were the price losers.

CSCS Plc gained 15.3 per cent to sell at N18.10 per unit compared with the earlier week’s value of N15.70 per unit, FrieslandCampina Wamco Plc appreciated by 1.4 per cent to N70.96 per share from N70.00 per share, UBN Properties Plc improved by 3.3 per cent to 95 Kobo per share from 92 Kobo per share, and Purple Real Estate Plc rose by 0.2 per cent to N5.21 per unit from N5.20 per unit.

On the flip side, NDEP Plc dropped 0.3 per cent to quote at N250.12 per share versus N250.83 per share, and Afriland Properties Plc depleted by 0.4 per cent to close at N2.62 per unit versus N2.63 per unit.

At the close of the week, VFD Group Plc was the most traded stock by value with N1.4 billion, NDEP Plc followed with N125.4 million, FrieslandCampina Wamco Nigeria Plc posted N24.7 million, Purple Real Estate Plc recorded N12.5 million, and UBN Property Plc sold N11.9 million.

UBN Property Plc finished the week as the most traded security by volume with 12.5 million units, VFD Group Plc traded 6.1 million units, Purple Real Estate Plc exchanged 2.4 million units, Geo-Fluid Plc transacted 2.00 million units, and CSCS Plc traded 670,000 units.

In the year so far, NASD investors have traded 1.77 billion units of securities worth N7.39 billion in 1,658 deals.

The NASD Over-the-Counter (OTC) Securities Exchange depreciated by 0.20 per cent on Tuesday, May 23, after the share price of a market bellwether, FrieslandCampina WAMCO Nigeria Plc, depreciated at the close of business.

The milk producer closed the session at N65.00 per unit compared with the previous day’s value of N66.00 per unit, indicating a decline of N1.00 yesterday.

As a result, N1.96 billion was chopped off the market capitalisation of the NASD OTC exchange on Tuesday, as it ended the session at N988.50 billion compared with Monday’s closing value of N990.46 billion.

Similarly, the NASD Unlisted Securities Index (NSI) decreased when trading activities were ended by 1.42 points to 714.61 points from the 716.03 points recorded in the previous session.

During the trading day, the volume of securities traded at the bourse moved up by 36.0 per cent, as the market participants transacted 136,573 units of stocks compared with the 100,394 units of securities traded in the preceding session.

In the same vein, the value of shares traded by investors yesterday went up by 1,548.4 per cent to N9.9 million from N604,087.34, as the number of deals executed increased by 54.5 per cent to 17 deals from the 11 deals carried out a day earlier.

Geo-Fluids Plc remained the most traded stock by volume on a year-to-date with a turnover of 831.9 million units valued at N1.3 billion, Industrial and General Insurance (IGI) Plc stood in second place with 627.7 units valued at N49.4 million, while UBN Property Plc was in third place with 390.9 million units worth N332.0 million.

Also, VFD Group Plc retained its spot on top of the chart as the most traded stock by value on a year-to-date basis with the sale of 10.6 million units worth N2.4 billion, Geo-Fluids Plc followed with 831.9 million units valued at N1.3 billion, while FrieslandCampina Wamco Nigeria Plc was in third place with 12.4 million units valued at N871.1 million.

The market capitalisation of the Nigerian Exchange Limited gained N137bn at the close of trading on Tuesday, maintaining its positive trend this week.

Similarly, the All-Share Index also appreciated by 0.48 per cent or 252.06 base points to 52,621.19. The year-to-date returns also moved upward to 2.67 per cent from 2.18 per cent on Monday.

In terms of trading, a total of 350,974,154 million shares worth N 5.169bn were exchanged on the floor of the NGX in 5,946 deals. The United Bank for Africa led the chart in terms of volume as 62,448,401m units of its shares valued at N511m were traded, while Zenith Bank led the value chart with N 1.582bn worth of shares traded on Tuesday.

Investors’ sentiment as measured by market breadth improved, resulting in 33 gainers against the 15 decliners. The gainers on Tuesday included, Transcorp, which led the chart with a 9.85 per cent appreciation to close at N2.90, Tripple G gained 9.83 per cent to close at N3.24, Unilever gained 9.70 per cent to close at 14.70, UPL gained 9.63 per cent to close at N2.05 and Chams’ shares appreciated by 9.38 per cent to close at N0.35.

On the losers’ table, Chellaram led with a 9.94 per cent loss to close at 1.63, followed by Sunu Assurance Plc whose shares lost 9.43 per cent to close trading at N0.48. CILeasing lost 8.83 per cent to close at N3.20, JapaulGold lost 5.71 per cent to close at N0.33, and consumer goods manufacturer, Cadbury lost 5.48 per cent in its share value to close at N16.40.

Performance across tracked indices was largely bullish as the Banking and Consumer Goods indices led the sectoral gainers’ chart by 1.55 per cent and 0.35 per cent respectively, owing to buy interests in Zenith Bank (+2.08 per cent) and Unilever (+9.70 per cent).

Similarly, the Oil & Gas and Industrial Goods indices rose by 0.04 per cent and 0.02 per cent respectively, due to gains in Eterna (+1.40 per cent) and Wapco (+0.41 per cent). On the other end, sell-offs in Sunu Assurance (-9.43 per cent) and Mansard (-4.76 per cent) drove the Insurance index down by 0.01 per cent.

The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.2 per cent on Friday, May 19, following positive price movement from FrieslandCampina WAMCO Nigeria Plc.

The milk producer closed the final session of the week as the sole gainer after it moved up by N1.00 to settle at N66.00 per share compared with the previous day’s N65.00 per share.

This supported the N1.96 billion upward movement in the value of the NASD OTC Exchange as it finished at N990.28 billion compared with Thursday’s closing value of N988.32 billion.

Following the same trend was the NASD Unlisted Securities Index (NSI), which increased by 1.42 points to wrap the session at 715.90 points, in contrast to the 714.48 points recorded in the previous session.

There was a fall in the volume of securities traded at the bourse during the session as investors exchanged 151,854 units, 73.6 per cent lower than the 575,500 units traded in the preceding session.

Also, the number of deals depreciated by 23.5 per cent to 13 deals from the 17 deals carried out a day earlier, while the value of shares traded yesterday went up by 30.8 per cent as the total equities traded amounted to N10.9 million versus N8.4 million made previously.

Geo-Fluids Plc remained the most traded stock by volume on a year-to-date basis with 831.9 million units valued at N1.3 billion, Industrial and General Insurance (IGI) Plc stood in second place with 627.7 units worth N49.4 million, while UBN Property Plc was in third place with 390.9 million units valued at N332.0 million.

VFD Group Plc was the most traded stock by value on a year-to-date basis with a turnover of 10.4 million units valued at N2.4 billion, Geo-Fluids Plc was in second place with its 831.9 million units worth N1.3 billion, while FrieslandCampina Wamco Nigeria Plc was in third place with 12.3 million units valued at N865.7 million.