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Equities market rises to 0.50%



By Philemon Adedeji

Trading activities in the stock market of the Nigerian Exchange Limited (NGX) on Monday closed on appreciation by 257.24 basis points or 0.50 per cent, following the investors like, Ecobank  Transnational Incorporated, Johnholts, Living trust Mortgage Bank and others that gained profit  during transaction.

From the data source of Nigerian Exchange Limited (NGX), All-Share index shows an appreciation to 0.50 per cent to close transaction at 51,962.86 index points compared with 51,705.61 index points it closed transaction on Friday

However, Market capitalisation still on appreciation which gained N138 billion to close trade at N28.013 trillion from N27.875 trillion it closed week on Friday.

From the data presented under the platform of NGX, trade volume largely increased to 70.7 per cent as investors bought and sold 266,513,989 million share valued by N2.602 billion and exchanged in 5040 deals.

On the advancers chart, the share price of Ecobank  Transnational Incorporated moved up by 9.79 per cent to close trade at N0.65 per share, as Johnholts which recorded as the second best price gainer rose by 0.06 kobo or 9.52 per cent closing at N0.69 per share while, Linkage Assurance grew by 9.43 per cent to close trade at N0.58 per share.

Okomu oil emerged as the fourth best gainer with 8.53 per cent to close at N210 per share and Cornest appreciated by 0.04 kobo increased to close trade at N0.66 per share

On the other hand, PZ cussion came as the overall decliner yesterday which declined by 10 per cent to close trade at N11.25 per share, followed by Eterna  PLC which dipped by 9.33 per cent to close trade at N6.80 per share.

Rt.briscoe recorded as the third most decliner down by 6.25 per cent or 0.03 kobo to close trade at N0.42 per share, ARDOVA dropped by 0.70 kobo or 5.09 per cent to close trade at N13.05 per share and NB which recorded as the last fifth decliner lost 3.42 per cent to close trade at N57.95 per share.

On the volume table, Living Trust Mortgage Bank topped which sold 64.658 million shares valued at N77.589 million, Followed by Transcorp traded 31.799 million shares worth N39.661 million while, Accesscorp accounted 29.268 million shares worth N27.516 million.

Oando transacted 27.724 million shares worth N16.241 million, and United bank of Africa traded 20.608 million shares value at N15.275 million

In yesterday market activities, Living Trust Mortgage Bank emerged as the highest traded stock on both volume and value side.

capital market

Naira depreciates to N1,170/$ in parallel market



The Naira on Monday depreciated to N1,170 per dollar in the parallel market from N1,166 per dollar last week Friday.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N837.77 per dollar from N927.19 per dollar last week Friday, indicating N89.42 kobo appreciation for the naira.

The Naira appreciated to N837.77 per dollar in the Nigerian Foreign Exchange Market (NAFEM) yesterday.

The volume of dollars traded (turnover) on NAFEM fell by 32.8 percent to $73.93 million from $110.14 million last week Friday.

As a result, the gap between the official and parallel market exchange rates widened to N332.23 per dollar yesterday from N238.81 per dollar last week Friday.

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Stock market plummets with investors losing N258.85bn



Trading yester day at the Nigerian equities market closed negatively for the new week. This is as the NGX Market CAP also recorded a loss of N258.85bn in Naira terms.

UNIVINSURE had the highest volume contribution with 16.42 percent, while TRANSCORP and GTCO followed closely.

According to the value chart, AIRTELAFRICA is at the top with a 46.04 percent contribution while GTCO and ZENITHBANK followed closely behind

The NGX All-Share Index (ASI) declined by 0.66 percent, closing at 70,946.83 basis points, compared to the previous day’s gain of 0.08 percent, which closed at 71,419.87 basis points.

The NGXASI now stands at 38.43 percent.

Meanwhile, the total volume traded declined by 0.72 percent to close at N358.53m, valued at N7.10bn and traded in 6,433 deals. UNIVINSURE was the most traded stock by volume with N58.85m, while AIRTELAFRI was the most traded stock by value with N3.27bn units traded.

The Gate Index declined by 0.04 percent to close at 183.36, while the Toni index advanced by 0.38 percent to close at 374.27 basis points.

At the close of trading, the market recorded 33 gainers, 26 losers, and 58 unchanged. THOMASWY topped the gainers list, while BUACEMENT topped the list of losers.

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Flour Mills of Nigeria completes repayment of N51.64bn Series 2 Commercial Paper



Flour Mills of Nigeria Plc (FMN), a Nigerian food and agro-allied company, has repaid its N51.64 billion Series 2 Commercial Paper (CP) on November 17, 2023.

This repayment follows the earlier completion of the N13.33 billion Series 1 payment on August 22, 2023.

The successful repayment of these Commercial Paper Programs highlights FMN’s robust financial position and the trust it commands within the market, according to Anders Kristiansson, FMN’s Group Chief Finance Officer. He also noted the company’s commitment using the Debt Capital Market to fulfill its operational financial needs in a statement shared with Businessday.

“We are delighted to confirm the prompt and successful repayment of our Series 2 Commercial Paper. This accomplishment mirrors FMN’s dedication to sound financial management and the faith vested in our organization by the investing community. “We extend our appreciation to our stakeholders for their unwavering support and affirm our dedication to delivering sustainable value while upholding the highest standards of corporate governance,” Kristiansson said.

The Series 1 CP and Series 2 CP, totaling N64.97 billion, were initially issued on February 22, 2023, as part of FMN’s N200 billion Commercial Paper Programme introduced earlier that month.

The company also initiated its N200 billion Commercial Paper Programme on February 10, 2023, launching Series 1 and Series 2 on February 22. Series 1, raising N13.33 billion with a yield of 13.0 percent, and Series 2, raising N51.64 billion with a yield of 14.0 percent.

Following the successful issuance of Series 1 and 2, FMN made strategic strides by introducing its Series 3 Commercial Paper in June 2023. The subscriptions from banks and Pension Fund Administrators contributed to the success, with banks at 39.7 percent and Pension Fund Administrators at 40.8 percent.

The management of this transaction was led by FBNQuest Merchant Bank Limited as the Lead Arranger, supported by ChapelHill Denham Advisory Limited, FCMB Capital Limited, and United Capital PLC serving as Joint Arrangers.

Established in September 1960 and listed on the Nigerian Stock Exchange since 1978, Flour Mills of Nigeria (FMN) Plc, known for the Golden Penny Food brand, has emerged as a frontrunner in Nigeria’s food and agro-allied industry.

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