Bulls Lead As Domestic Equities Gain N88bn

The Nigerian equities market on Wednesday closed on a positive note, gaining 158.71 basis points. The NGX All Share Index also appreciated by 0.22 per cent to 70773.31 points from 70613.60 points traded. Market capitalisation of listed equities also increased by N88 billion  to N38.885 trillion from N38.797 trillion reported the previous day. The trading result for the day showed that Japaul Gold led gainers table in percentage terms, gaining 9.87 per cent to close at N1.67 per share, Mecure followed with a gain of 9.80 per cent to close at N3.25 per unit, Prestige insurance added 9.76 per cent to close at N0.45 per unit, Cornerstone Insurance up by 9.72 per cent to close at N1.58 per share while Omatek increased by 9.62 per cent to close at N0.57 per share. Conversely, Caverton Business Solutions recorded the highest loss with 9.87 per cent to close at N1.37 per share, Meyer Pant trailed with a loss of 9.85 per cent to close at N2.47 per share, SCOA Plc fell by 9.60 per cent to close at N1.13 per share, Thomas Way dipped by 8.60 per cent to close at N3.72 per unit, UPDC dropped by 8.26 per cent to close at N1.11 per share. Volume of activities increased by 139.061 million, representing 30.95 per cent as investors traded 558.344 million shares valued at N9.794 billion in 6401 deals against 449.283 million shares worth N5.444 billion exchanged hands the previous day in 7100 deals. Transactions in the shares of FBNHoldings Plc led market activities with 209.898 million shares valued at N4.042 billion, United Bank for Africa followed with account of 53.724 million shares worth N1.099 billion, Universal insurance traded 43.685 million shares cost N10.194 million, Fidelity Bank exchanged 22.253 million shares worth N203.733 million, Unity Bank exchanged 18.028 million shares valued at N16.860 million.

Bears Continue To Dominate As Equity Market Sheds N112bn

Bears continued to dominate the domestic equity market as investors’ weather depleted by N112 billion as sell off in the shares of companies in the financial services sector impacted on the market. Market capitalisation of listed equities declined by 0.31 per cent to N36.367 trillion from N36.479 trillion reported the previous day. The NGX benchmark index declined by 203.54 basis points to 66448.63 points from 66,652.17 points traded the previous day. The trading result showed that RTBriscoe led gainers table with 9.76 per cent to N0.45 per unit, CWG followed with a gain of 9.72 per cent to close at N7.90 per share, Betaglass gained 9.55 per cent to close at N56.20 per unit, Veritas Kapital gained 8.33 per cent to close at N0.26 per unit, Cornerstone Insurance added 7.88 per cent to close at N1.76 per share. On the contrary, Vitafoam Nigeria Plc topped losers chart in percentage terms, shedding 9.92 per cent to close at N22.25 per unit FTNCocoa trailed with a loss of 9.88 per cent to close at N1.55 per share, Oando Plc down by 9.84 per cent to close at N8.70 per unit, JohnHolt dipped by 9.39 per cent to N1.64 per share,United Capital declined by 7.20 per cent to close at N16.10 per unit. Volume of trades for the day declined also by 90.191 million, representing 24.78 per cent as Investors traded 273.798 million shares valued at N3.412 billion in 6826 deals against 363.989 million shares worth N4.529 billion in 7018 deals.AccessCorp led market activities with 45.877 million shares valued at N710.626 million, Zenith Bank followed with 21.116 million shares cost N657.222 million, Unity Bank traded 19.835 million shares cost N192.391 million, United Bank for Africa exchanged 17.294 million shares cost N279.315 million, Transnational Corporation of Nigeria exchanged 15.728 million shares worth  N93.924 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.