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NGX market capitalisation down by 0.08%

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Transaction activities of the stock market on the Nigerian Exchange Ltd. (NGX) declined by 0.08 percent, making the market capitalisation close the week at N59.121 trillion.

Specifically, investors lost a total of N48 billion in the four trading sessions, making the market capitalisation close at N59.121 trillion from N59.169 trillion at the beginning of the week.

Similarly, the NGX All-Share Index also depreciated by 0.08 percent or 85.31 points to close the week at 104,562.06, compared to 104,647.37 recorded last week.

International Breweries Plc, Dangote Sugar Refinery Plc, led 29 other declining equities in the downturn performance.

International Breweries lost 74k to close at N4.45, Dangote Sugar shed N7 to close at N52, Guinea Insurance declined by 4k to close at 35k per share.

Northern Nigeria Flour Mills Plc went down by N5.35 to close at N48.30, FTN Cocoa Processors depreciated by 16k to close at N1.60 per share, among other declining equities.

Conversely, Computer Warehouse Group Plc led 39 equities on the gainers’ table with a gain of N1.55 to close at N7.50, Morison Industries Plc rose by 35k to close at N1.76 per share.

Juli Plc appreciated by N1.63 to close at 9.49, SUNU Assurances grew by 20k to close at N1.36 and Consolidated Hallmark Holdings gained 23k to close at N1.63 per share, among other advancing equities.

During the week, investors traded a total turnover of 1.804 billion shares worth N52.040 billion in 38,550 deals, contrasting with 1.735 billion shares valued at N48.755 billion traded in 45,237 deals the previous week.

As recorded in previous weeks, the financial services industry measured by volume led the activity chart again with 1.329 billion shares valued at N32.924 billion traded in 20,897 deals.

These, therefore, contributed 73.65 percent and 63.27 percent each to the total equity turnover volume and value, respectively.

The conglomerates industry followed with 106.728 million shares worth N1.467 billion in 2,368 deals.

The third place was the Consumer Goods industry, with a turnover of 87.708 million shares worth N4.220 billion in 4,731 deals.

Trading in the top three equities namely Guaranty Trust Holding Company Plc, Zenith Bank Plc and Access Holdings Plc, measured by volume accounted for 589.939 million shares worth N23.276 billion in 8,166 deals.

This indicated contribution of  32.70 and 44.73 percent to the total equity turnover volume and value, respectively.

On Exchange Traded-products(ETP), a total of 20,189 shares valued at N11.363 million were traded this week in 210 deals, compared to 10,560 valued at N131.549 million transacted last week in 184 deals.

On bonds, a total of 61,447 shares valued at N60.237 million were traded this week in 27 deals compared with a total of 68,735 shares valued at N71.382 million transacted last week in 20 deals.

However, all other indices finished higher with the exception of NGX Main Board, NGX 30, NGX Consumer Goods and NGX Growth which depreciated by 0.28, 0.16, 0.97 and 0.14 percent respectively, while the NGX Oil and Gas and NGX Sovereign Bond indices closed flat.

Also, 40 equities appreciated in price during the week lower than 50 equities in the previous week.

31 equities also depreciated in price lower than 32 in the previous week, while 83 equities remained unchanged, higher than 72 recorded in the previous week.

As part of corporate action by listed companies on the Exchange, seven companies declared dividend for its shareholders in the course of the week.

Total Energies proposed to pay N25 for every 50k ordinary shares for its 2023 financial year on June 24, Access Holdings declared to pay N1.80 dividend per 50k ordinary shares on April 19.

United Capital Plc announced to pay N1.80 as dividend on April 23, SFS Real Estate Investment Trust proposed N14.50 as dividend to be paid on May 14, Chemical and Allied Products Plc, also declared to pay N1.55 dividend qualified for payment on May 3.

Meyer Plc declared 30k dividend for its shareholders to be paid May 27, Trans-nationwide Express Plc Proposed 2k dividend for payment on June 11 and Infinity Trust Mortgage Bank declared 15k dividend for payment on May 13.

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capital market

Financial expert seeks alignment of FG’s fiscal policy with CBN’s monetary policy

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A financial expert, Mr Eddie Osarenkhoe, has advised the Federal Government to align its fiscal policy with the Central Bank of Nigeria’s monetary policy to achieve economic stability.

Osarenkhoe, the immediate past President of Finance Houses Association of Nigeria (FHAN), gave the advice while speaking with newsmen on Wednesday in Ota, Ogun.

He attributed the current steady appreciation of the naira to CBN’s reforms and the country’s ability to pay some of its debts.

Osarenkhoe applauded the CBN reforms which, he said, had helped to sustain the steady appreciation of the naira against the dollar.

The financial expert stated that CBN was able to check speculators in the foreign exchange, thus resulting in continuous appreciation of the nation’s currency.

“If the federal government is able to come up with fiscal policy in alignment with that of CBN, it will help the nation’s economy a great deal,” he said.

According to him, the economy needs to improve through exports to enable the country to earn more foreign exchange.

The naira has shown a remarkable strength against the US dollar, trading below N1,000 at the official market.

This development has been attributed to the strategic financial policies being implemented by the President Bola Tinubu-led administration and CBN.

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Investors lose N457bn as bearish sentiment continues

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Investors in the Nigerian equities market lost N457 billion at the end of trading on Wednesday.

This followed the dip in the share value of Livestock Feeds, Computer Warehouse Group, International Energy Insurance, and FTN Cocoa Processors on the trading floor today.

After five hours of trading at the capital market, the equity capitalisation crashed to N56.5 trillion from N56.9 trillion posted by the bourse on Tuesday.

Similarly, the All-Share Index (ASI) fell below the 100,000-mark to 99,908.89 from 100,717.21 achieved by the bourse the previous day.

The market breadth was negative as 17 stocks advanced, 26 declined, while 78 others remained unchanged in 9, 074 deals.

Ikeja Hotel topped the gainers’ list with +10.00 percent to close at N7.26 from its previous N6.60 per share.

Fidelity Bank, Academy, Morison, and Prestige also increased their share prices by 9.88 percent, 9.77 percent, 9.71 percent, and 9.26 percent respectively.

On the flip side, Livestock Feeds, Computer Warehouse Group, International Energy Insurance, and FTN Cocoa Processors led other price decliners as they shed 10.00 percent, 9.79 percent, 9.79 percent and 9.72  percent each off their share prices.

UBA recorded the highest volume by trading 55.013 million shares valued at N1.28 billion in 1,092 deals followed by Zenith Bank with 47.029 million shares worth N1.69 billion traded by investors in 907 deals.

Access Corp traded 44.986 million shares valued at N789 million in 845 deals.

On the value index, Zenith Bank recorded the highest value for the day trading stocks worth N1.69 billion in 907 deals followed by UBA which traded equities worth N1.284bn in 1,092 deals.

Access Corp traded stocks worth N789 million in 845 deals.

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Investors lose N598.69bn as NGXASI declines by 1.04%

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The Nigerian stock market ended with a negative market breadth, closing 1,059.91 points lower.

The NGX All-Share Index declined by 1.04 percent to close at 100,717.21 basis points, compared to the previous day’s loss of 0.53 percent to close at 101,777.12 basis points. The NGX Market CAP also recorded a loss of N598.69bn Naira terms. YTD, the NGXASI Stands at 34.70 percent.

The total volume traded advanced by 23.65 percent to close at N403.89m, valued at N8.38bn, and traded in 10,170 deals. ACCESSCORP was the most traded stock by volume with N62.93m, while GTCO was the most traded stock by value with N1.74bn units traded.

The Gote Index declined by 0.46 percent to close at 347.33 basis points, while the Toni index declined by 3.94 percent to close at 565.65 basis points.

At the close of trading, the market recorded 7 gainers, 50 losers, and 67 unchanged. MORISON topped the gainers’ list, while CORNERST topped the losers’ list.

Thus, the market closed with a negative market breadth index (MBI) of -0.64x.

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