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capital market

Multiverse, Cadbury, FCMB, drive market capitalisation to N143bn



By Philemon Adedeji

Transaction on Nigerian exchange limited (NGX), closed marginally on positive note when Multiverse, Cadbury, Fcmb, drives market capitalisation to N143 billion. All shares index now moved higher to 266.01 representing 0.55 per cent to close trade at 48837.76 basis points it closed yesterday. As overall market capitalisation largely increased by N143 billion to close trade at N26.328 trillion.

The market sentiments as measured by breadth 34 stocks constituted the gainers while 17 stocks constituted the decliners Trade volume largely increased by 20.79 per cent from 246,703,657 million units to 759,648,190 million units it closed yesterday, and valued by N5.536 billion, exchange in 5,032 deals.

On the advancers table, Multiverse and Cadbury gained 10 per cent or 0.02 kobo and 0.85 kobo to close trade at N0.22 and N9.35 per share respectively Transexpr was recorded as the third best gainer rose by 0.08 kobo increased to close trade at N0.89 per share, While Cap grew 9.77 per cent to close at N21.90 per share and Seplat oil Plc, appreciated by 100 kobo or 9.09 per cent increased to close trade at N1200 per share.

On the declines table, Champion was recorded as the highest loser which dropped by 6.88 per cent to close trade at N2.30 per share, while, Ftncocoa,Linkage Assurance, COURTVILLE business solution dipped by 0.02 kobo or 5.13 per cent, 3.92 per cent and 3.77 per cent to close trade at N0. 37, N0.49 and 0.51 per share respectively and fidelity bank depreciated by 3.47 per cent to close trade at N3.62 per share.

Transaction in the share and of First city monument banks, led the table chart which traded 503.983 million share valued by 1.764 billion followed by Transcorp Plc, which transacted 36.176 million shares worth 41.851 million. Honey flour traded 25.066 million shares worth 92.815 million.

As First bank holding of Nigeria traded 16.958 million shares valued at 201.813 million and Aiico insurance Plc transacted 16.604 million shares valued at 12.522 million. First city monument bank led the activity chart in terms of volume and value

capital market

IATF2023 records $43.8bn closed deals



The African Export-Import Bank has disclosed that the third Intra-African Trade Fair (IATF2023) held in Cairo from 9 to 15 November witnessed the conclusion of business deals and transactions valued at US$43.8 billion.

In the final tallies released in Cairo, the organisers of the continental event said that the amount represented the value of 426 deals concluded in 21 sectors covering 52 countries. At a press conference to announce the results, Executive Vice President (Intra-African Trade Bank) at Afreximbank, Mrs Kanayo Awani, also announced that 130 countries participated in the trade fair, which attracted 1,939 exhibitors and 28,282 participants who attended physically and through the IATF virtual platform.

One of the notable transactions included the Export Agriculture for Food Security Framework executed by several African countries (as Origin Countries) and ARISE Integrated Industrial Platforms, Arise IIP (as Anchor Investor) to which Afreximbank committed US$2 billion to boost production, processing, and intra-African trade in agricultural products and to provide African farmers and agribusinesses with opportunities to access larger markets across the continent.

Mrs Awani also said that the IATF had successfully established itself as the premier trade and investment event in Africa, with the unique capacity to increase intra-African trade and investment, especially in the context of implementing the African Continental Free Trade Area (AfCFTA) Agreement.

“Building on the successes of IATF2018 and IATF2021, I am proud to say that the buzz and energy generated by IATF2023 will be felt across Africa and beyond for many years to come. Together, we have explored new possibilities and opened new doors for a brighter future for our continent,” she added.

IATF2023 kicked off on 9 November and included an official opening ceremony, a Presidential Summit which was addressed by President Abdel Fattah Al Sisi of the Arab Republic of Egypt, a Trade and Investment Forum, the Creative Africa Nexus (CANEX), an African Auto Forum, AU Youth Entrepreneurship Programme, a Sub-Sovereigns Conference, a Diaspora Summit, an African Industrialization Week and an African Tourism Sustainability and Investment Forum. A series of side events were also held as part of the trade fair.

The next edition of the IATF will be hosted in 2025 by Algeria.

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capital market

Investors record positive gains, as NGXASI advance by 0.43%



Investors yesterday recorded positive gains on the Nigerian equities market following Monday’s losses.

According to data obtained from the Nigerian Exchange Limited (NGX) website, the NGX Market CAP recorded a gain of N165.99 billion in Naira terms.

The NGX All-Share Index (NGXASI) also advanced by 0.43 percent, closing at 71,250.17 basis points, compared to the previous day’s loss of 0.66 percent, which closed at 70,946.83 basis points. With the growth, the NGXASI now stands at 39.02 percent.

The total volume traded also advanced by 20.93 percent to close at N433.57 million, valued at N11.11 billion and traded in 7,016 deals.

The Gate Index closed flat at 183.36, while the Toni index advanced by 0.27 percent to close at 375.28 basis points.

At the close of trading, the market recorded 40 gainers, 15 losers, and 64 unchanged. NSLTECH topped the gainers list, while ABBEYBDS topped the list of losers.

UACN was the most traded stock by volume with N61.71 million, while NIDF was the most traded stock by value with N2.22 billion units traded.

UACN also had the highest volume contribution with 14.23 percent, while UBA and GTCO followed closely.

According to the value chart, NIDF is at the top with a 20.0 percent contribution. AIRTELAFRI and MTNN followed closely behind.

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capital market

SEC DG calls for multifaceted approach to enhance capital market growth



The Director-General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda has called for a multi-faceted approach to enhance the growth of Nigeria’s capital market.

The SEC DG made this known while addressing journalists at the 2023 conference of the Capital Market Correspondents Association of Nigeria (CAMCAN) held in Lagos at the weekend.

According to Yuguda who was represented by the Executive Commissioner Operations, SEC, Mr Dayo Obisan, “Effectively harnessing the capital market for national development entails a multi-faceted approach, these include deploying more infrastructure, fostering more public-private partnerships, establishing specialised entities like special purpose vehicles (SPVs), listing state-owned enterprises, issuing green bonds to support sustainable projects, and bolstering small and medium enterprises among others.”

According to him, the revised capital market master plan underscored SEC’s commitment to deepening and. repositioning the financial market as a key driver of sustainable economic growth.

“The master plan which represents collective aspirations of the capital market community is focused on driving initiatives geared towards growing and deepening the market with the ultimate goal of accelerating the emergence of our dear country in the top 20 economies by the year 2025,” Yuguda said.

The SEC DG added that synergy holds the potential of unleashing capital market prowess and paving the way for a prosperous future.

According to him, achieving the objective necessitates an increased utilisation of market mechanisms and instruments to raise funds and stimulate economic advancement.

He pointed out that the commission would continue to introduce new ideas and policies that would support the development and regulation of a capital market that is dynamic, fair, transparent, and efficient to contribute to the nation’s economic development, noting that investors protection plays a crucial role in the development and integrity of the capital market.

Also speaking at the event, the Deputy Director, SEC Lagos Zonal office, Mr John Briggs, urged the government to create infrastructure financing instruments that would facilitate easy servicing of obligations.

“We have encouraged a lot of infrastructure funds like sukuk, and green bonds and we are even talking about blue bonds to develop the market.”

“The capital market has created the conducive environment to ensure a transparent and dynamic market which would continue to attract investment,” he said.

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