Equity market sustains bullish run, gains N158bn

Trading activities on the floor of Nigerian Exchange (NGX) Tuesday sustained an upward trajectory as the market appreciated by N158 billion. The market capitalisation of listed equities increased by 0.44 per cent to N35.842 trillion from N35.684 trillion reported the previous day. The NGX All Share Index also appreciated 286.26 basis points to 65488.67 points from 65202.41 points traded on Monday. Investors’ attention during the day were directed towards shares of Transnational Corporation of Nigeria (Transcorp), AccessCorp, and Fidelity Bank, ETI and others. An analysis of the investment showed that Cornerstones Insurance led gainers table with 9.84 per cent to N1.34 per unit, CWG followed with a gain of 9.74 per cent to close at N4.28 per unit, SCOA added 9.38 per cent to close at N1.40 per unit, ABC Transport increased by 8.33 per cent to close at N0.52 per unit. BUAFoods added 7.91 per cent to close at N165 per share. On the contrary, Nigerian Breweries, SUNU Assurance and Chellaram Plc recorded the highest loss during the day in percentage terms, declining by 10 per cent to close at N38.25, N0.72 and N3.96 per share respectively. John Holt trailed with a drop of 8.81 per cent to close at N1.45 per unit while Mutual Benefits dipped 6.82 per cent to close at N0.41 per share. The volume of trades increased by 61.864 million representing  26.71 per cent as investors traded 293.463 million shares valued at N4.122 billion in 5895 deals against 231.599 million shares worth N3.992 billion exchanged hands the previous day in 5494 deals. Transactions on the shares of Transnational Corporation of Nigeria (Transcorp) led market activities during the day with 41.441 million shares valued at N185.042 million, AccessCorp followed with account of 36.158 million shares worth N616.420 million, Fidelity Bank traded 32.105 million shares valued at N229.733 million, Omatek exchanged 15.006 million shares cost N4.293 million while Ecobank Transnational Corporate sold a total of 13.200 million shares valued at N208.479 million.

Revised CMMP tops discussion as SEC, stakeholders hold Q2 CMC meeting

The Securities and Exchange Commission (SEC) is set to hold the Second Capital Market Committee (CMC) meeting in 2023. The meeting is scheduled to be held virtually through Zoom with key stakeholders in the capital market on August 24, while the usual interface with the press, on the outcome of the CMC meeting, will take place on Friday, August 25. The SEC and the capital market community would discuss the implementation of the Revised Capital Market Master Plan, Fintech and commodities trading ecosystem roadmap as well as other matters relating to the capital market and the economy at its Second Capital Market Committee (CMC) meeting in 2023. The CMC is an industry-wide committee comprising members of the SEC, representatives of capital market operators and trade groups and other stakeholders. It was primarily established to serve as a medium for the exchange of ideas among market stakeholders as well as an avenue for providing feedback to the SEC on how to continuously address challenges, improve market operations and enhance the regulatory framework. According to the SEC, “Attendance to both events is strictly by invitation. Invited participants will be sent unique links with which to join the meeting. “During the meeting, issues bordering on implementation of the Revised Capital Market Master Plan, implementation of the Fintech Roadmap, the commodities trading ecosystem roadmap as well as other salient matters relating to the capital market and the economy would be discussed.” The Commission unveiled the Revised Capital Market Master Plan (CMMP) in November 2022 which serves as a blueprint to harness opportunities to better position the capital market as the engine of economic growth and development. The SEC had previously implemented the initiatives of the 10 Year Capital Market Master Plan, which were designed to reposition the Nigerian Capital Market as an attractive investment destination and a critical facilitator of capital formation for the accelerated growth and development of the Nigerian economy.  Some of the CMMP initiatives that have been implemented include; Direct Cash Settlement, regularisation of multiple subscriptions, dematerialisation of share certificates, and the introduction of the e-Dividend Management System. The CMMP initiatives have helped in promoting transparency, protecting investors and enhancing market confidence, while also ensuring that only fit and proper persons are allowed to operate in the capital market. The objectives of the CMMP are also in consonance with the Federal Government’s economic strategy, focused on deepening the capital market and encouraging a private sector-led economy to drive inclusive growth. Expected participants at the CMC meeting include Chief Executive Officers (CEOs) of all registered capital market firms (i.e. Broker/Dealers, Investment Advisers, Custodians, Fund/Portfolio Managers, Receiving Banks, Issuing Houses, Rating Agencies, Registrars, Reporting Accountants, Trustees, and Capital Market Consultants, etc.); Chief Executive Officers of Nigerian Exchange Group (NGX), National Association of Securities Dealers (NASD); FMDQ Group Plc; Africa Exchange Holdings (AFEX); Nigeria Commodity Exchange (NCX); Central Securities Clearing System (CSCS); as well as representatives of relevant financial sector regulatory agencies, among others.

Again, equity market sheds N96bn

The local stock market closed trading on Thursday on a negative note, shedding N96 billion with the anticipated rise in exchange rate and fuel prices.The market capitalisation of listed equities declined further by 0.27 per cent to N35.273 trillion from N35.369 trillion reported the previous day.The decline led the benchmark index, NGX ASI, to witness a decline of 176.32 basis points, concluding at 64448.96 points from 64,625.28 points reported on Wednesday.An analysis of the investment showed that JohnHolt led gainers table in percentage terms, gaining 10 per cent to close at N1.32 per share, CWG followed with a gain of 9.76 per cent to close at N3.60 per share, Prestige insurance gained 8.33 per cent to close at N0.52 per unit, Cutix Plc added 8.00 per cent to close at N2.70 while Linkage Assurance gained 7.69 per cent to close at N0.98 per unit.On the contrary Guinness Nigeria Plc topped losers chart, dropping by 8.57 per cent to close at N0.32 per unit, RTBriscoe trailed with 8.16 per cent to close at N0.45 per unit, Chi Plc loss 7.61 per cent to close at N0.85 per share, SUNU Assurance dipped by 6.98 per cent to close at N0.80 per unit, Deep Capital declined by 6.67 per cent to close at N0.28 per share.The volume of trades increased by 28.63 million, representing 9.82 per cent as investors traded 320.346 million shares valued at N3.729 billion in 5176 deals against 291.714 million shares costing N7.432 billion in 6213 deals.Transactions in the shares of Fidelity Bank led market activities with 80.045 million shares valued at N595.543 million, Transnational Corporation of Nigeria followed with 34.268 million shares worth N137.206 million, United Bank for Africa traded 24.398 million shares cost N340.020 million , Universal Insurance traded 22.429 million shares worth N5.062 million , FBNHoldings exchanged 19.096 million shares cost N353.481 million.

NGX moves northward, gains N565bn

Trading activities on the floor of the Nigerian Exchange on Thursday closed northward, gaining N565 billion following gains recorded by Dangote Cement, Unilever, Cadbury Nigeria Plc, FBNHoldings among others. The market capitalisation of equities on Thursday appreciated by 1.62 per cent to close at N35.483 trillion from N34.918 trillion reported the previous day. The NGX All Share Index also appreciated by 1037.43 basis points to 65204.82 points from 64167.39 points traded on Wednesday. A reviews of the investment during the day showed that Chellaram Plc led gainers table in percentage terms, gaining 10 per cent to close at N4.40 per share, SCOA Plc followed with a gain of 9.35 per cent to close at N1.17 per share, Dangote Cement gained 9.34 per cent to close at N349.90 per share, Thomas Way added 9.32 per cent to close at N1.29 per unit, Cornerstone Insurance increased by 9.09 per cent to close at N1.08 per share. On the contrary, Cap Plc topped losers chart, shedding 10 per cent to close at N19.80 per share, Academy Press trailed with a loss of 9.36 per cent to close at N2.13 per unit, Dangote Sugar Refinery dipped by 6.63 per cent to close at N32.40 per unit, Glaxo Smithkline fell by 6.60 per cent to close at N9.20 per share, Chams Plc down by 5.05 per cent to close at N0.94 per share. Volume of trades increased by 123.16 million, representing 51.73 per cent as investors traded 361.197 million shares valued at N5.743 billion in 5531 deals against 238.039 million shares worth N2.616 billion in 6001 deals. Transactions in the shares of FBNHoldings Ltd market activities with 140.179 million shares valued at N2.608 billion in 280 deals, Fidelity Bank followed with account of 21.559 million shares worth N165.186 million in 170 deals, Universal insurance traded 18.706 million shares valued at N4.211 million in 62 deals. Transnational Corporation of Nigeria exchanged 17.307 million shares valued at N62.606 million in 176 deals while United Bank for Africa exchanged 13.081 million shares costing N188.990 million in 249 deals.

Domestic equity market gains N542bn

Nigeria’s domestic equity market on Thursday sustained its upward trade story, growing by N542 billion. The market capitalisation of listed equities increased by 1.55 percent to N35.515 trillion from N34.973 trillion reported the previous day. The NSE All Share Index also appreciated by 995.70 basis points to 65263.06 points from 64267.36 points reported the previous day. A review of the investment showed that Nigerian Breweries, Sterling Bank, and PZ Cusson led the gainers’ table with 10 percent each to close at N41.80 per share, N3.63, and N18.15 per share respectively. Chellaram Plc added 9.96 percent to close at N3.05 per unit, Dangote Sugar added 9.95 percent to close at N35.90 per unit. On the contrary, Eterna Plc topped the losers’ chart, dropping by 9.83 percent to close at N23.40 per share, JohnHolt trailed with a drop of 9.82 percent to close at N1.47 per unit, Thomas Way fell by 9.40 percent to close at N1.06 per share, Mcnichols dipped by 9.33 percent to N0.68 per unit, Courtvellle Business Solutions down by 9.09 percent to close at N0.60 per unit. The volume of transactions increased by 114.491 million, representing 34.61 percent as investors traded 445.275 million shares worth N5.087 billion in 7095 deals, against 330.784 million shares cost N4.269 billion exchanged hands the previous day in 6251 deals. Trading in the shares of Sterling Bank led market activities with 69.452 million shares valued at N238.093 million, FCMB group followed with account 33.332 million shares cost N217.816 million, AccessCorp traded 32.985 million shares valued at N568.981 million, Japaul Gold traded 28.366 million shares cost N28.846 million, Fidelity Bank exchanged 27.351 million shares cost N219.595 million.

Nigeria’s equities bounces back, gains N41bn

Transactions on the floor of the Nigerian Exchange (NGX) on Wednesday closed on a positive note, appreciating by N41 billion.  The market capitalisation of listed equity appreciated by 0.12 percent to N34.973 trillion from N34.932 trillion reported the previous day. The NGX All Share Index also increased 75.16 basis points to 64267.36 points from 64192.20 points traded the previous day. A review of the investment showed that Nascon, Chams Plc, and Abbey Building Society led the gainers’ table in percentage terms, gaining 10 percent to close at N35.75 per share, N0.99 and N1.21 per share respectively. Skyways Aviation Handling followed with a gain of 9.96 percent to close at N28.15 per share, and Dangote Sugar Refinery added 9.93 percent to close at N32.65 per unit. On the other hand, Thomas Way and TIP topped the losers’ chart with a drop of 10 percent each to close at N1.17 and N0.72 per share respectively. UPL trailed with a loss of 9.78 percent to close at N2.49 per unit, Omatek fell by 9.76 percent to close at N0.37 per share, JohnHolt was down by 9.44 percent to close at N1.63 per share. Volume of trades declined by 431.313 million, representing 56.60 percent as investors traded 330.784 million shares valued at N4.269 billion in 6251 deals against 762.097 million shares worth N7.710 billion in 7935 deals. Trading activities on the shares of Transnational Corporation of Nigeria (Transcorp) led market activities with 58.829 million shares worth N209.186 million, FBNHoldings followed with an account of 27.951 million shares cost N502.759 million, Ecobank Transnational Incorporate traded 21.303 million shares cost N330.246 million, AccessCorp exchanged 20.697 million shares cost N34.178 million while Chams Plc traded 16.964 million shares valued at N16.135 million.