Nigeria’s Domestic Equity Market Gains N16bn

In the Nigerian Exchange, trading activity witnessed continued growth, resulting in a market capitalization increase of N16 billion. The total market capitalization of listed equities grew by 0.04%, reaching N37.004 trillion compared to the previous day’s N36.988 trillion. The NGX All Share Index (ASI) also showed an uptick, rising to 67353.23 points from 67326.12 points on the previous trading day. Top gainers on the equity market include Guinea Insurance, leading the gainers table with a 9.09% increase to N0.24 per share, followed by Eterna Plc with a 6.86% gain, closing at N14.80 per share. Unity Bank added 5.49%, closing at N0.96 per share, Jaiz Bank with a 5.26% increase to N1.60 per unit, and Omatek with a 4.55% gain, closing at N0.46 per share. On the flip side, CWG recorded the highest loss, dropping by 10% to close at N8.55 per share, followed by RTBriscoe with an 8.77% loss to close at N0.55 per unit. AfriPrudential fell by 7.14%, closing at N6.50 per unit, and FTNCocoa dipped by 6.29% to close at N1.64 per share. Neimeth International Pharmaceutical was down by 6.06% to N1.55 per share. The total volume of transactions increased by 19.59 basis points, representing a 5.18% rise, with investors trading 397.560 million shares valued at N4.699 billion in 6,165 deals. This is compared to 377.970 million shares worth N5.169 billion traded in 6,729 deals. Wema Bank was the most traded stock by volume, with 88.986 million shares valued at N418.147 million. AccessCorp followed with 35.606 million shares at N59.848 million, United Bank for Africa traded 35.171 million shares at N659.134 million, Fidelity Bank exchanged 33.405 million shares valued at N279.512 million, and GTCO Plc traded 23.421 million shares at N82.848 million.

Bulls Return As Equity Market Gains N158bn

Nigeria’s equity market on Tuesday returned to bullish trend, gaining N158 billion, following gains recorded by small and medium stocks. Market capitalisation of listed equities increased by 0.43 per cent to N36.988 trillion from N36.830 trillion it closed Monday. The NGX All Share Index also appreciated by 67326.12 points from 67037.93 points traded the previous day. An analysis of the investment showed that Julius Berger led gainers table during the day, in percentage terms, gaining 10 per cent to N36.30 per share, CWG followed with a gain of 9.83 per cent to N9.50 per unit, Champion Breweries gained 9.76 per cent to N3.71 per unit, Oando Plc increased by 9.58 per cent to close at N9.15 per share while Thomas Way up by 9.29 per cent to close at N3.06 per share. On the contrary, Multiverse recorded the highest loss in percentage terms, declining by 9.49 per cent to close at N2.67 per unit, Unity Bank trailed with a loss of 9.00 per cent to close at N0.91 per unit, Ellah Lakes fell by 8.05 per cent to N4.00, Nigerian Breweries dipped by 7.38 per cent to N38.90 per unit while ETranzact down by 6.67 per cent to close at N8.40 per share. Volume of transactions increased by 161.90 million, representing 74.92 per cent as investors traded 377.970 million shares valued at N5.169 billion in 6729 deals against 216.070 million shares worth N3.551 billion in 5965 deals. Trading in the shares of ETranzact led market activities with 440.694 million shares valued at N370.152 million, United Bank for Africa followed with account of 42.300 million shares worth N796.358 million, AccessCorp traded 33.319 million shares cost N560.388 million, Fidelity Bank traded 31.200 million shares cost N257.179 million while Sterling Bank traded 24.676 million shares cost N84.263 million.

Equity Market Continues Bullish Run, Gains N266bn

The local equity market Tuesday sustained its bullish run, gaining N266 billion, following gains recorded by BUAfoods, Transcorp Hotel, Berger Paint, Oando, Fidelity Bank among oth Market capitalisation of listed equities increased by 0.71 per cent to N37.413 trillion from N37.147 trillion reported the previous day. The NGX All Share Index also appreciated by 482.05 basis points to 68359.22 points from 67877.17 points traded the previous day. An analysis of the investment showed that Ellah Lakes led gainers table, gaining 10 per cent to close at N3.65 per share, Berger Paint followed with a gain of 9.95 per cent to close at N11.60 per share, ETranzact gained 9.93 per cent to close at N8.08 per share, Chams Plc added 9.92 per cent to close at N1.33 per unit, Oando Plc increased by 9.92 per cent to close at N13.30 per unit. On the contrary, NSL Tech and SCOA Plc topped losers chart, dropping by 10 per cent each to close at N0.27 per share and N1.26 per share respectively, Multiverse trailed with a loss of 9.93 per cent to close at N2.27 per unit, Cornerstones fell by 8.76 per cent to close at N1.25 per unit while Daar Communication fell by 8.70 per cent to close at N0.21 per unit. Volume of activities increased by 161.450 million, representing 31.33 per cent as investors traded 676.736 million shares valued at N5.893 billion in 7659 deals against 515.280 million shares valued at N8.925 billion in 8357 deals. Transactions in the shares of Universal insurance led market activities with account 235.152 million shares valued at N48.167 million, United Bank for Africa followed with 69.101 million shares cost N122.690 million, Transnational Corporation of Nigeria traded 41.572 million shares worth N274.177 million, Fidelity Bank traded 34.639 million shares worth N278.184 million, Chams Plc sold a total of 29.959 million shares cost N39.790 million.

Nigeria’s Equity Market Rebounds, Gains N358bn

Nigeria’s domestic equity market on Wednesday took a positive turn, gaining N358 billion as profits recorded in the shares of Dangote Sugar, Transnational Corporation of Nigeria, United Bank for Africa, AccessCorp, Oando Plc and others impacted positively on the market. The market capitalisation of listed equities gained 0.98 per cent to N36.896 trillion from N36.538 trillion reported the previous day. The NGX All Share Index also appreciated by 654.20 basis points to 67414.40 points from 66760.20 points traded on Tuesday.A review of the investment during the day showed that four companies closed trading for the day with 10 percent gain. Dangote Sugar Refinery, Nahco, United Capital, and Nascon  led gainers table, growing by 10 per cent each to close at N57.20 per unit, N23.65, N16.50 and N51.70 per share respectively, Transnational Corporation of Nigeria followed with a gain of 9.98 per cent to close at N6.61 per unit. On the contrary, Courtvellle Business Solutions topped losers’ chart with a drop of 10 per cent to close at N0.54 per unit, ABC Transport trailed with a loss of 9.80 per cent to close at N0.92 per unit, Tantalizer fell by 9.30 per cent to close at N0.39 per share, Learn Africa depreciated by 8.51 per cent to close at N3.01 per unit while Regal insurance dipped by 8.33 per cent to close at N0.33 per unit. The volume of activities declined by 75.914 million representing a drop of 11.76 per cent as investors exchanged 569.626 million shares valued at N8.697 billion in 8404 deals against 645.540 million shares cost N11.014 billion exchanged hands the previous day in 10554 deals. Transactions in the shares of Oando led market activities with 143.445 million shares valued at N1.395 billion, AccessCorp followed with account of 63.556 million shares worth N1.070 billion, Fidelity Bank traded 39.553 million shares cost N313.782 million, Transcorps exchanged 32.610 million shares worth N209.175 million while 30.676 million shares valued at N464.755 million.

Chinese Yuan achieves stronger position at 7.1788 against US dollar

The Chinese Yuan exhibited increased strength on Friday, with the central parity rate of the yuan against the US dollar reaching 7.1788, marking a gain of 23 pips. This adjustment was reported by the China Foreign Exchange Trade System. It’s worth noting that in China’s spot foreign exchange market, the yuan’s value is permitted to fluctuate by up to two percent in either direction from the central parity rate during each trading day. The central parity rate for the yuan’s value against the US dollar is determined based on a weighted average of market maker prices prior to the opening of the interbank market on every business day.

Bulls return as equity market gains N60bn

The domestic equity market, on Thursday closed on a positive note, appreciating by N60 billion as Sterling Bank, Transcorps, Fidelity Bank, Dangote Sugar, among others lifted market activit The market capitalisation of listed equities increased by 0.17 per cent to N36.422 trillion from N36.362 trillion reported the previous day. The NGX All Share Index also appreciated by 109.46 basis points to 66548.99 points from 66439.53 points reported on Wednesday. A review of the investment showed that NGX group led gainers table during the day with 10 per cent to close at N26.40 per unit, Seplat Energy followed with a gain of 9.95 per cent to close at N1837.00 per share, Trans Express gained 9.38 per cent to N1.05 per unit, UPL added 9.32 per cent to close at N2.58 per share while ABC Transport increased by 8.64 per cent to close at N0.88 per share. Conversely, Multiverse recorded the highest loss, declining by 10 per cent to close at N2.70 per share, Nascon trailed with a drop of 9.81 per cent to close at N50.55 per unit, Honey Well Flour down by 8.11 per cent to close at N3.40 per share, May & Baker dipped by 7.27 per cent to close at N5.10 per shares while Jaiz Bank sheds 6.83 per cent to close at N1.50 per share. Volume of trades declined as investors traded 620.982 million shares worth N7.180 billion in 7972 deals against 637.193 million shares valued at N7.790 billion exchanged hands the previous day in 10033 deals. Sterling Bank Plc led market activities with 160.995 million shares valued at N531.392 million, Transnational Corporation of Nigeria followed with 135.695 million shares valued at N847.536 million, Fidelity Bank traded 57.622 million shares worth N403.333 million, FTNCocoa sold a total of 47.177 million shares cost N97.395 million while Dangote Sugar exchanged 28.858 million shares cost N1.600 billion.

Naira appreciates 4.31% at investors, exporters window

On Friday, the Naira displayed a remarkable appreciation of 4.31% against the dollar at the Investors and Exporters window, reaching an exchange rate of N743.07. This significant gain was in contrast to the previous day’s rate of N776.50. The open indicative rate also closed favorably at N782.28 to the dollar on the same day. During the day’s trading, the spot exchange rate peaked at N799 to the dollar before ultimately settling at N743.07. Interestingly, the Naira was observed to have been sold as low as N475 to the dollar within the same trading session, indicating some fluctuations in the market. The Investors and Exporters window witnessed substantial activity, with a total of $121.08 million being traded on Friday. This volume of transactions reflects the ongoing dynamics in the foreign exchange market and the interests of investors and exporters in Nigeria’s currency market. The Naira’s gain at the Investors and Exporters window indicates some positive sentiment and demand for the local currency in recent trading activities. However, it is essential to keep an eye on market conditions and various economic factors that could influence future fluctuations in the exchange rate. As with any currency, the Naira’s value can be influenced by factors such as the country’s trade balance, foreign direct investments, foreign reserves, and government monetary policies. A stable and competitive exchange rate is crucial for the Nigerian economy to attract foreign investments, ensure price stability, and enhance international trade. Overall, market participants, investors, and policymakers will continue to closely monitor the Naira’s performance in the coming days to gauge the currency’s strength and stability in the face of economic challenges and global market trends.