Equity Market Sheds N21bn

Nigeria’s equity market began the week on a bearish note, shedding N21 billion following profit-taking in the shares of Dangote Sugar, GTCO Plc and other stocks. The development impacted on the market forcing the NGX All Share Index to decline by 38.49 basis points to 66876.92 points from 66915.41 points reported the previous day. Market capitalisation of listed equities also declined by 0.06 per cent to N36.742 trillion from N36.763 trillion reported the previous day. An analysis of the investment showed that Thomas Way led gainers table in percentage terms, gaining 9.92 per cent to N3.99 per share, Academy Press followed with a gain of 9.71 per cent to close at N1.92 per unit, Ikeja Hotel added 9.52 per cent to close at N3.45 per unit, Chams Plc increased by 7.38 per cent to close at N1.60 per unit, Tantalizer added 6.90 per cent to close at N0.31 per share. Volume of trades increased by 135.726 million, representing 65.92 per cent as investors traded 314.619 million shares valued at N4.388 billion in 6133 deals against 205.893 million shares costing N6.380 billion in 4986 deals. On the contrary, VFD group recorded the highest loss during the day, shedding 9.99 per cent to close at N242.40 per share, Mcnichols followed with 9.69 per cent to close at N0.56 per share, UPL dipped by 9.32 per cent to close at N2.14 per unit, Chi pls declined by 5.22 per cent to close at N1.09 per unit, Omatek down by 4.44 per cent to close at N0.43 per unit. Transactions in the shares of United Bank for Africa led market activities with 47.150 million shares valued at N900.695 million, AccessCorp followed with a gain of 40.348 million shares valued at N666.866 million, FCMB group traded 29.054 million shares cost N173.552 million, GTCO Plc exchanged 27.393 million shares worth N959.246 million while Transcorps sold a total of 16.435 million shares valued at N102.039 million.

Bears Return As Equity Market Sheds N154bn

Transactions in the nation’s equity market on Wednesday closed on a negative note, declining by N158 billion. Market capitalisation of listed equities dropped by 0.43 per cent to N36.386 trillion from N36.544 trillion reported the previous day. The NGX All Share Index also depreciated by 288.69 basis points to 66482.29 points from 66770.97 points traded the previous day. An analysis of the trading activities for the day showed that Oando Plc led gainers table in percentage terms, gaining 9.88 per cent to close at N9.45 per share, Redstarex followed with a gain of 9.81 per cent to close at N2.91 per unit, Triple G gained 9.68 per cent to close at N2.38 per share, RTBriscoe added 9.43 per cent to close at N0.58 per share while Universal Insurance gained 9.09 per cent to close at N0.24 per unit. On the contrary, Wema Bank Plc and Ikeja Hotel topped losers’ chart for the day, declining by 10 per cent each to close at N4.23 and N3.15 per share respectively, ABC Transport trailed with a loss of 8.86 per cent to close at N0.72 per unit, Royal Express down by 8.00 per cent to close at N0.46 per unit, CHi Plc fell by 5.60 per cent to close at N1.18 per unit. Volume of transactions increased by 293.194 million, representing 80.47 per cent as investors traded 657.515 million shares valued at N4.596 billion in 6646 deals against 364.321 million shares worth N3.851 billion in 7537 deals. Transactions in the shares of Universal Insurance led market activities with 336.294 million shares valued at N80.457 million, Fidelity Bank followed with account of 31.689 million shares worth N264.857 million, Chi Plc traded 25.125 million shares valued at N29.423 million, GTCO Plc traded 24.632 million shares cost N885.386 million, Wema Bank exchanged 24.016 million shares cost N103.813 million.

Bears Trend As Equity Market Sheds N242bn

The domestic equity market on Monday opened the week bearish, shedding N242 billion as profit taking activities persisted during the day. Market capitalisation of listed equities declined by 0.66 per cent to N36.605 trillion from N36.847 trillion reported on Friday. The NGX All Share Index also depreciated by 441.95 basis points to 66882.64 points from 67324.59 points recorded the previous day. A review of the transactions during the day showed that Ikeja Hotel led the gainers table in percentage terms, gaining 10 per cent to close at N2.75 per share. JohnHolt followed with a gain of 9.70 per cent to close at N1.81 per unit. Cornerstones Insurance increased by 9.49 per cent to close at N1.50 per share, Regal insurance gained 8.57 per cent to close at N0.38 per unit, Tantalizer up by 6.67 per cent to close at N0.32 per unit. On the contrary, Caverton Business Solutions topped losers chart, dropping by 9.87 per cent to close at N1.37 per share, AccessCorp trailed with 9.86 per cent to close at N15.55 per share, Oando Plc dipped by 9.70 per cent to close at N10.70 per unit, TIP fell by 9.65 per cent to close at N1.03 per unit, RTBriscoe dropped by N0.38 per unit. Volume of trades declined as investors traded 408.194 million shares valued at N5.442 billion in 7707 deals against 1.028 billion shares worth N4.354 billion exchanged hands the previous day in 6370 deals. Transactions in the shares of AccessCorp led market activities with 113.391 million shares valued at N1.781 billion, United Bank for Africa followed with account of 59.615 million shares worth N1.049 billion, Unity Bank traded 27.790 million shares valued at N28.426 million, Universal Insurance exchanged 17.572 million shares cost N3.901 million, Transnational Corporation of Nigeria exchanged 16.789 million shares cost N103.697 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.