Nigeria’s Equity Market Gains N355bn

Transactions on the floor of Nigerian Exchange on Monday opened the week in positive note, gaining N355 billion following gains recorded by BuaCement, Nigerian Breweries, NGX group among others. Market capitalisation of listed equities increased higher by 0.97 per cent to N36.865 trillion from N36.510 trillion reported the previous day. The NGX All Share Index also appreciated by 646.76 basis points to 67101.33 points from 66454.57 points reported on Friday. A review of the trading activities showed that BuaCement led gainers table in percentage terms, gaining 10 per cent to close at N103.40 per unit, Chi Plc followed with a gain of 9.80 per cent to close at N1.12 per unit, Nigerian Breweries added 9.09 per cent to close at N42.00, John Holt increased by 8.11 per cent to close at N1.60 per unit, SUNU Assurance added 7.22 per cent to close at N1.04 per share. On the contrary, Prestige insurance topped losers chart, dropping by 10 per cent to close at N0.45 per unit, FTNCocoa trailed with a loss of 8.33 per cent to close at N1.65 per unit, Neimeth international Pharmaceutical down by 7.74 per cent to close at N1.55 per unit, Sovereign Trust Insurance fell by 5.0 per cent to close at N0.38 per unit, ETranzact down by 4.26 per cent to close at N9.00. Volume of transactions declined by 105.43 million, representing 28.18 per cent as investors traded 268.663 million shares valued at N3.463 billion in 6911 deals against 374.093 million shares costing N8.933 billion in 6882 deals. The result further showed that ABC Transport was the toast of investors due Ng the day accounting for 29.269 million shares valued at N19.908 million, AccessCorp followed with account of 29.171 million shares valued at N465.977 million, Oando Plc traded 27.090 million shares valued at N252.976 million, United Bank for Africa exchanged 23.751 million shares cost N407.671 million, TransCorp traded 23.735 million shares valued at N149.510 million.

Again, Equity Market Sheds N35bn

Transactions on the floor of Nigerian Exchange (NGX) on Thursday closed negative shedding N35 billion. This was due to decline in the share prices of Oando Plc, Nigerian Breweries Flour Mills Nigeria Plc Northern Nigeria Flour Mills among others. Market capitalisation of listed equities dropped by 0.09 per cent to N37.365 trillion from N37.400 trillion traded on Wednesday. The NGX All Share Index also went down by 64.58 basis points to 68271.14 points from 68335.72 points recorded the previous day. Investors traded 1.125 billion shares valued at N5.818 billion in 7949 deals against 566.631 million shares costing N5.386 billion exchanged hands the previous day in 8201 deals. A review of the investment during the day showed that JohnHolt led gainers table, increasing by 9.55 per cent to close at N1.72 per unit, Daar Communications and Omatek plc followed with a gain of 9.52 each to close at N0.23 and N0.46 per share respectively. Mutual Benefits gained 9.30 per cent to close at N0.47 per share, SUNU Assurance added 9.09 per cent to close at N0.96 per unit. On the contrary, Oando Plc recorded the highest loss in percentage terms, declining by 9.93 per cent to close at N13.15 per share, Lasaco Insurance trailed with a loss of 9.71 per cent to close at N1.86 per unit, Chams Plc fell by 9.59 per cent to close at N1.32 per unit, Northern Nigeria Flour Mills fell by 9.23 per cent to close at N15.25 per share. Tantalizer declined by 8.57 per cent to close at N0.32 per unit. Trading in the shares of Universal insurance led market activities, exchanging 669.012 million shares valued at N134.205 million, Oando Plc followed with 100.680 million worth N1.456 billion, Japaul Gold traded 43.738 million shares valued at N43.385 million, AccessCorp traded 40.144 million shares cost N681.949 million, United Bank for Africa sold 32.450 million shares valued at N552.752 million.

Nigeria’s Equity Market Sheds N464bn Amid Profit-Taking

The nation’s equity market Monday opened the week bearish, shedding N464 billion. The downward trend followed profit-taking in the shares of GTCO, United Bank for Africa, Zenith, AccessCorp, Nascon, NGX group and others. Market capitalisation of listed equities declined by 1.24 per cent to N36.831 trillion from N37.295 trillion reported the previous day. The NGX also depreciated by 847.16 basis points to 67296.18 points from 68143.34 points traded on Friday. An analysis of the investment showed that Northern Nigeria Flour Mills Nigeria Plc led gainers table, appreciating by 9.96 per cent to N13.25 per unit, Oando Plc followed with a gain of 9.74 per cent to close at N8.45 per share, CWG increased by 9.0 per cent to close at N6.30 per share, NPF Micro Finance Bank added 8.20 per cent to close at N1.98 per share while RTBriscoe up by 7.32 per cent to close at N0.44 per unit. On the contrary, ETranzact, Nascon and NSL Tech topped losers’ chart, dropping by 10 per cent each to close at N9.00, N52.20 and N0.27 per share respectively. Dangote Sugar Refinery followed with a drop of 9.98 per cent to close at N57.75 per unit while Learn Africa declined by 9.86 per cent to close at N3.29 per unit. Investors traded 520.133 million shares valued at N8.334 billion in 9914 deals against 483.489 million shares worth N8.340 billion in 6660 deals. Transactions in the shares of United Bank for Africa led market activities with 75.932 million shares valued at N1.049 billion, AccessCorp followed with 57.668 million shares valued at N957.323 million, Transnational Corporation of Nigeria traded 53.724 million shares cost N331.528 million, Zenith Bank traded 43.128 million shares worth N1.523 billion while FBNHoldings exchanged 26.573 million shares valued at N480.793 million. Zenith Bank declares N15.70bn as interim dividend to shareholders Zenith Bank Plc has declared an interim dividend of N15.70 billion (representing N0.50 per share) to be paid to shareholders for the half year ended June 2023. This was disclosed in the company’s corporate action announcement to the Nigerian Exchange Limited (NGX) on Monday. The Board of Directors of the company proposed the payment of an interim dividend in the sum of N0.50kobo per ordinary share on the issued capital of 31,396,493,786 Ordinary Shares. At its 32nd Annual General Meeting (AGM) in May, shareholders of the bank unanimously approved the proposed final dividend payment of NGN2.90 per share. This brings the total dividend for the 2022 financial year to NGN3.20 per share, with a total value of NGN100.47 billion. The board of Zenith Bank Plc had earlier announced a delay in the release of its 2023 Half-Year (HY) financial results due to post-audit issues. According to the statement signed by the Company Secretary, Michael Osilama Otu, the delay in the publication of the Audited Interim Financial Statements for the Half Year ended June 30, 2023, is due to some outstanding post-audit issues. The bank said the results will be delivered on or before September 14, 2023. The statement reads: “Zenith Bank Plc (the Bank) wishes to notify its shareholders, the Nigerian Exchange Limited (the Exchange), and the investing public of a slight delay in the release of the Audited half-year financial reports by the Bank for the period ended June 2023. “The delay is to enable the bank to attend to some outstanding post-audit issues in the course of approval of the financial statements. “The Bank is, however, optimistic that the Audited half-year financial reports will be submitted to the Exchange on or before September 14, 2023, and regrets any inconveniences this delay might cause its esteemed stakeholders.

Nigeria’s equity market sheds N27bn

The local equity market on Wednesday returned to negative trend shedding N27 billion or 0.07 per cent to N37.373 trillion from N37.400 trillion reported the previous day. The NGX All Share Index also depreciated by 48.40 basis points to 68286.28 points from 68334.68 points reported the previous day. Volume of shares traded during the day declined by 179.198 million, representing 47.32 per cent as investors traded 378.654 million shares valued at N5.482 billion in 7671 deals against 557.852 million shares worth N10.210 billion exchanged hands the previous day in 9818 deals. Meanwhile, the domestic equity continued in positive trajectory for the fourth straight month to August with 3.44 per cent growth  month on month gains to close at 66,548.99 points, beating a 15-year high since March 2008. The bullish performance was spurred by strong investor sentiments in the consumer goods and Insurance sectors. Capital market operators also said that the positive interim dividend payments by corporates and strong search for gains by investors drove the rally which gave equity investors a total of N1.4 trillion in the month while the market capitalization of listed equities closed at N36.42 trillion and then the year to date return printed at 29.8 per cent. However, an analysis of the investment showed that Guinea Insurance led gainers table with 10 per cent to N0.23 per unit, Betaglass followed with a gain of 9.91 per cent to close at N47.15 per per share, Caverton gained 9.84 per cent to close at N1.34 per unit, Oando Plc added 9.70 per cent to close at N7.35 per unit, CWG added 9.11 per cent to close at N4.79 per unit. On the contrary, Vitafoam Nigeria Plc topped losers chart, declining by 10 per cent to close at N22.50 per share, Veritas Kapital trailed with a loss of 7.69 per cent to N0.24 per share, Linkage Assurance fell by 5.56 per cent to close at N0.85 per unit, Dangote Sugar Refinery dipped by 4.76 per cent to close at N66.65 per unit while International Breweries down by 4.35 per cent to N4.40 per unit. Transactions in the shares of Oando Plc led market activities with 83.526 million shares valued at N609.377 million, United Bank for Africa followed with account 35.627 million shares cost N533.748 million, Transnational Corporation of Nigeria exchanged 26.657 million shares cost N177.694 million, AccessCorp traded 18.534 million shares cost N321.080 million while Omatek exchanged 15.729 million shares cost N9.437 million.

Profit-taking leaves equity market with N622bn loss

The nation’s equity market on Wednesday continued on a negative trend, declining by N622 billion on renewed profit-taking activities embarked on by investors.The market capitalisation of listed equities declined by 1.75 percent to N34.918 trillion from N35.540 trillion reported the previous day.Similarly, the NGX All Share Index also depreciated by 1142.26 basis points to 64167.39 points from 65309.65 points it closed on Tuesday, with the market recording a year-to-date gain of 26.20 percent at the close of trading yesterday. An analysis of the investment showed that Omatek and Guinea Insurance led the gainers table during the day in percentage terms, gaining 10 percent each to close at N3.15 and N36.90 per share respectively. Tantalizer followed with a gain of 9.09 percent to close at N0.36 per unit, Abbey Building Society added 8.90 percent to close at N1.59 per unit, TIP also appreciated by 8.86 percent to close at N0.86 per share. On the contrary, Multiverse and Nascon recorded the highest loss, declining by 10 percent to close at N3.15 and N36.90 per share respectively. JohnHolt trailed with a drop of 9.77 percent to close at N1.20 per share, Dangote Cement declined 9.09 percent to close at N320.00 while Universal Insurance was down by 8.33 percent to close at N0.22 per share. The volume of transactions during the day went down by 79.78 million, representing 25.09 percent as Investors traded 238.039 million shares valued at N2.616 billion in 6001 deals against 317.808 million shares valued at N4.471 billion exchanged hands the previous day in 6376 deals. The trading result showed that Sterling Bank led market activities with 32.673 million shares valued at N113.802 million in 91 deals, Fidelity Bank followed with account of 21.124 million shares valued at N161.326 million in 168 deals, Universal Insurance traded 159.151 million shares cost N3.763 million in 31 deals, United Bank for Africa traded 12.278 million shares worth N176.557 million in 251 deals while Transnational Corporation of Nigeria exchanged 9.773 million shares cost N35.931 million in 194 deals.