Category Archives: Market News

The value of quoted commercial papers on the FMDQ Exchange stood at N539.22bn at the end of the first quarter of 2023 with the total outstanding value of CPs rising to N669.36bn at the end of the same period.

According to monthly reports from the FMDQ exchange, there has been a sustained increase in commercial papers quotations since the beginning of the year.

Quoted CPs were issued by institutions from various sectors including real estate, financial services, manufacturing, agriculture and health.

In February 2023, the total value of CPs quoted on the FMDQ Exchange was N101.84bn, representing a MoM increase of 22.40 per cent (N18.64bn) from the value of CPs quoted in January 2023.

Quoted CPs were issued by institutions from various sectors including financial services, real estate, manufacturing and construction.

For March 2023, the total value of CPs quoted on the FMDQ Exchange was N354.18bn, representing a MoM increase of 247.80 per cent (N252.34bn) from the value of CPs quoted in February 2023.

Quoted CPs were issued by institutions from various sectors including manufacturing (10), agriculture (4), financial services (4), real estate (2), telecommunications (2), commodities trading (2), and general commerce (1).

As a result, the total outstanding value of CPs increased MoM by 82.76 per cent (N303.11bn) to N669.36bn. In January 2023, CPs with a total value of N113.10bn matured and were redeemed.

Historic data showed that the figures for the first three months of 2023 were higher than the preceding seven months which recorded quoted CPs blow N80bn.

The value of total outstanding value of CPs has also consistently risen since December to N669.36bn at the end of March, which is the latest figure from the FMDQ exchange.

The Nigerian Exchange Limited saw mixed sentiments on the trading floor this past week, which resulted in a gain of N15bn for investors.

Trading activities opened on a positive note at the start of the week but dipped on Thursday and rebounded on Friday for the All-Share Index and market capitalisation to close at 52,187.93 points and N28.417tn respectively, marking a 0.05 per cent depreciation.

Other indices finished higher except for NGX Main Board, NGX 30, NGX Oil & Gas, NGX Lotus II, NGX Industrial Goods, and NGX Growth which depreciated by 0.64 per cent, 0.09 per cent, 1.67 per cent, 0.66 per cent, 0.03 per cent and 0.32 per cent respectively while the NGX ASeM and NGX Sovereign Bond indices closed flat.

On the local bourse, a total of 3.029 bn units of shares worth N33.626 bn were exchanged in 29,505 deals in contrast to a total of 3.602 billion shares valued at N36.451 billion that exchanged hands the previous week in 27,801 deals.

The Financial Services Industry (measured by volume) led the activity chart with 2.095 bn shares valued at N21.847 bn traded in 14,008 deals; thus contributing 69.17 per cent and 64.97 per cent to the total equity turnover volume and value respectively.

The conglomerates industry followed with 398.558m shares worth N1.185 bn in 3,129 deals. The third place was the services industry, with a turnover of 270.111m shares worth N1.853 billion in 1,317 deals.

Trading in the top three equities namely Fidelity Bank Plc, Access Holdings Plc and Transnational Corporation Plc, (measured by volume) accounted for 1.328 bn shares worth N8.159 bn in 5,286 deals, contributing 43.84 per cent and 24.26 per cent to the total equity turnover volume and value respectively.

Forty-four equities appreciated during the week lower than 48 equities in the previous week. Twenty-seven equities depreciated lower than 30 in the previous week, while 85 equities remained unchanged, higher than 78 recorded in the previous week.

Leading the gainers’ table for the week was FTN Cocoa Processors Plc, whose shares gained 37.50 per cent to close at N0.44. Ikeja Hotel gained 30.13 per cent to close the week’s trading at N2.03, PZ Cussons Nigeria’s shares appreciated by 28 per cent to close at N16.00, Livestock Feed gained 27.45 per cent to close at N1.30 and Cornerstone Insurance gained 23.08 per cent to end the week at N0.80.

On the losers’ table, the Computer Warehouse Group led with a 25.60 per cent loss to close at N1.54, Ardova followed with a 23.67 per cent loss to close at N20.15, May & Baker Nigeria Plc lost 10.11 per cent to close at N4.00, Honeywell Flour Mill lost 9.67 per cent to close trading at 2.71 and McNichols Plc lost 9.33 per cent to end the week’s activities priced at N0.68 per share.

CWG Plc and Learn Africa Plc ended Friday’s trading session at the Nigerian Exchange (NGX) Limited as the best-performing stocks after they appreciated by 10.00 per cent each to quote at N1.32 and N2.42, respectively.

They were among the 37 equities that finished on the gainers’ chart at the close of transactions, outweighing the impact of the 12 shares that closed on the decliners’ group.

International Energy Insurance gained 9.73 per cent to sell at N1.24, Custodian Investment grew by 9.65 per cent to N6.25, and Meyer increased by 9.46 per cent to N2.43.

On the flip side, Transcorp led the losers’ log due to sustained profit-taking after Mr Femi Otedola offloaded his stake, shedding 9.77 per cent yesterday to close at N1.94. Living Trust Insurance lost 9.73 per cent to trade at N2.69, McNichols went down by 9.72 per cent to 65 Kobo, Veritas Kapital depreciated by 4.76 per cent to 20 Kobo, and Jaiz Bank dropped 4.21 per cent to 91 Kobo.

It was observed the energy counter appreciated by 2.39 per cent, the banking index grew by 1.37 per cent, the consumer goods counter rose by 0.49 per cent, the insurance space improved by 0.40 per cent, and the industrial goods sector increased by 0.09 per cent.

The positive performance of all the key sub-sectors of the exchange moved the market higher by 0.34 per cent at the close of transactions.

Consequently, the All-Share Index (ASI) jumped by 175.77 points to 52,466.52 points from 52,290.75 points as the market capitalisation rose by N95 billion to N28.568 trillion from N28.473 trillion.

The level of activity waned on Friday as the trading volume, value, and the number of deals depreciated by 62.00 per cent, 20.00 per cent and 11.15 per cent, respectively.

This was because the investors transacted 482.6 million shares worth N5.6 billion in 5,298 deals compared with the 1.3 billion shares worth N7.0 billion traded in 5,963 deals on Thursday.

Access Holdings traded 168.8 million stocks worth N1.9 billion, UBA sold 53.5 million equities worth N422.4 million, Fidelity Bank transacted 36.0 million equities valued at N206.1 million, Zenith Bank sold 33.2 million equities for N796.0 million, and Coronation Insurance exchanged 30.7 million stocks for N13.5 million.

For the third straight week, the National Association of Securities Dealers (NASD) Over-the-Counter (OTC) Securities Exchange ended in the negative territory as there was a 0.57 per cent depreciation in the 18th week of trading this year.

This happened as there were two price losers and two price gainers in four days of trading, which saw the market capitalisation drop N10 billion to N1.000 trillion from the preceding week’s N1.010 trillion.
On its part, the NASD Unlisted Securities Index (NSI) lost 4.19 points to wrap the week at 726.02 points compared with 730.21 points recorded in the previous week.

The price decliners were made up of FrieslandCampina Wamco Nigeria Plc, which slumped 6.9 per cent to end the week at N73.97 per unit versus N79.42 per unit, and Industrial and General Insurance (IGI) Plc lost 12.5 per cent to 7 Kobo per share from 8 Kobo per share.

On the gainers’ angle, Central Securities Clearing System (CSCS) recorded a 7.1 per cent rise to end the week at N13.20 per share, in contrast to the previous week’s N12.33 per share, as Geo-Fluids Plc improved by 6.4 per cent to N2.50 per unit versus N2.35 per unit.

In the 18th week, there was a 52.7 per cent decrease in the total value of transactions as investors traded N20.9 million worth of stocks compared to N44.3 million worth of stocks achieved in the previous week.

Also, the volume of trades during the week slumped by 36.4 per cent week-on-week to 12.8 million units compared to the 20.0 million units reported in the previous week.

At the close of the week, IGI Plc was the most traded security by volume with 12.10 million units. Afriland Properties Plc achieved 340,000 units, FrieslandCampina Wamco Nigeria Plc exchanged 256,225 units, Geo-Fluids Plc traded 53,333 units, and CSCS Plc transacted 11,920 units.

By value, FrieslandCampina Wamco Nigeria Plc led with N19.1 million, IGI Plc posted N0.8 million, Afriland Properties Plc traded N0.8 million, CSCS Plc recorded N0.2 million, and Geo-Fluids Plc posted N0.1 million.

The NASD OTC market year-to-date (YTD) has witnessed the sale of 1.66 billion stocks valued at N4.34 billion in 1,068 deals.

The NASD Over-the-Counter (OTC) Securities Exchange closed the last trading day of the week, Friday, May 5, on a negative note after it depreciated marginally by 0.01 per cent due to a decline in the share price of Afriland Properties Plc.

As a result, the market capitalisation of the NASD OTC stock exchange went down by N140 million to close the day at N1.004 trillion from N1.004 trillion.

In the same vein, the NASD Unlisted Securities Index (NSI) decreased by 0.1 points to wrap the session at 726.02 points compared with 726.12 points in the previous session.

These trades were carried on Friday in eight deals compared with the 13 deals carried out by the market participants in the preceding trading session, indicating a decline of 38.5 per cent.

The market was without a price gainer yesterday.

Geo-Fluids Plc remained the most traded stock by volume (year-to-date) with 820.8 million units valued at N1.3 billion, IGI Plc stood in second place with 627.7 units valued at N49.4 million, while UBN Property Plc was in third place with 379.8 million units valued at N321.6 million.

Conversely, VFD Group Plc closed the session as the most traded stock by value (year-to-date) with 10.4 million units worth N2.4 billion, Geo-Fluids Plc retained the second spot with 820.8 million units valued at N1.3 billion, as FrieslandCampina Wamco Nigeria Plc was in third place with 5.0 million units worth N349.7 million.