Economy
Nigerian Stocks Lose N225b to Begin Week Bearish
By Modupe Gbadeyanka
The first trading day of the week on the floor of the Nigerian Stock Exchange (NSE) kicked off on Wednesday on a very negative note with a total of N225 billion lost by investors at the close of business.
The market had resumed for transactions today from the Christmas break observed on Monday and Tuesday, but the huge profit-taking by investors plunged the benchmark index into the red zone by 1.64 percent.
Business Post reports that the All-Share Index (ASI) went down by 632.57 points to settle at 37,889.57 points, while the market capitalisation decreased by N225 billion.
Other sector indices finished lower today except the NSEOILGAS, which increased by 0.48 percent to finish at 317.44 points.
The NSE30 declined by 1.40 percent today to close at 1,726.96 points; the NSE50 went down by 1.47 percent to finish at 1,930.91 points; the NSEBNK fell by 0.31 percent to end at 472.25 points; and the NSE Consumer Goods depreciated by 1.17 percent to wrap the day at 956.60 points.
Observers and analysts informed Business Post that this trend may likely continue throughout the three-day trading sessions for this week as investors would like to quickly sell off to take profit as the year 2017 wraps up.
Our correspondent reports that the year-to-date return deflated to 40.99 percent after the midweek trade. Similarly, the market breadth closed negative after the stock market finished with 22 price losers and 14 gainers.
The losers’ chart was led by Dangote Cement, which fell by N9.50k to close at N230.50k per share, and Nigerian Breweries, which depreciated by N5.96k to finish at N134.4k per share.
Okomu Oil slumped by N3.56k to end at N67.69k per share, Presco lost N3.50k to settle at N68.50k per share, while PZ Cussons went down by 76k to close at N20.62k per share.
On the flip side, Mobil topped the gainers’ log on Wednesday after increasing by N8.31k to close at N178.31k per share.
It was followed by Cadbury, which appreciated by N1.42k to finish at N15.75k per share, and Dangote Sugar, which grew by 51k to end at N20.15k per share.
Eterna increased by 12k to finish at N4.35k per share, while Fidelity Bank advanced by 11k to settle at N2.49k per share.
At the close of business on Wednesday, the volume of equities transacted went up by 108.31 percent from 204.485 million to 425.960 million, while the total value of shares exchanged rose by 38.63 percent from N1.5 billion to N2.1 billion.
The Financial Services sector led the activity chart today with 313.6 million shares exchanged for N2.3 billion, while the Conglomerates industry followed with 107.5 million shares traded for N160 million.
Transcorp was the busiest stock on Wednesday, exchanging a total of 107 million units of shares worth N154.8 million.
It was followed by Fidelity Bank, which sold 94 million shares valued at N220.8 million, and Skye Bank, which transacted 51.7 million shares for N25.8 million.
AIICO traded 40 million shares at N20.9 million, while FBN Holdings executed 37.9 million shares worth N340.9 million.
By Adedapo Adesanya
The duo of MRS Oil and FrieslandCampina Wamco Nigeria Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.68 per cent on Friday, June 5.
MRS Plc lost N19.00 during the session to sell at N171.00 per share compared with Thursday’s value of N190.00 per share, and FrieslandCampina Wamco Nigeria Plc depreciated by N8.70 to finish at N181.68 per unit compared with the preceding session’s N190.38 per unit.
As a result, the market capitalisation further lost N22.59 billion to close at N2.607 trillion versus the N2.630 trillion it ended a day earlier, and the NASD Unlisted Security Index (NSI) dropped 37.76 points to settle at 4,358.32 points, in contrast to the previous day’s 4,396.08 points.
The alternative stock market closed the last trading day of this week with a price gainer, Central Securities Clearing System (CSCS) Plc, which gained 6 Kobo to quote at N78.40 per share compared with the preceding session’s N78.34 per share. However, it could not prevent the market from going down at the close of business.
Yesterday, the volume of securities bought and sold by investors went down by 50.0 per cent to 140,345 units from the preceding day’s 280,714 units, the value of stocks decreased by 16.5 per cent to N17.9 million from the previous session’s N21.5 million, and the number of deals carried out by market participants fell by 35.7 per cent to 27 deals from the 42 deals recorded on Thursday.
When trading activities closed for the day, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and CSCS Plc with 64.7 million units traded for N4.4 billion.
GNI Plc also ended the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units valued at N415.7 million.
By Dipo Olowookere
Renewed interest in financial stocks and others lifted the Nigerian Exchange (NGX) Limited by 0.15 per cent on Friday.
Customs Street closed higher yesterday despite the 1.37 per cent loss recorded by the consumer goods sector as a result of profit-taking.
This was offset by gains in the other key sectors of the local bourse, as the insurance counter chalked up 1,14 per cent. The banking space appreciated by 0.90 per cent, the industrial goods segment grew by 0.46 per cent, and the energy sector expanded by 0.01 per cent.
Consequently, the All-Share Index (ASI) went up by 366.00 points to 242,593.31 points from 242,227.31 points, and the market capitalisation gained N235 billion to close at N155.594 trillion compared with the previous day’s N155.359 trillion.
The trio of International Energy Insurance, Abbey Mortgage Bank, and DAAR Communications improved by 10.00 per cent each yesterday to N7.26, N9.35, and N1.98, respectively, while Zichis advanced by 9.39 per cent to N32.38, with Sovereign Trust Insurance up by 8.70 per cent to N2.50.
On the flip side, Academy Press lost 9.84 per cent to quote at N8.25, University Press depreciated by 9.73 per cent to N5.10, Africa Prudential dipped by 2.63 per cent to N12.95, Chams crumbled by 2.44 per cent to N4.00, and International Breweries slipped by 1.59 per cent to N12.35.
Business Post reports that the market breadth index was positive during the session after recording 37 appreciating equities and 14 depreciating equities, implying strong investor sentiment.
Abbey Mortgage Bank led the activity chart with a turnover of 164.1 million units worth N1.5 billion, Ellah Lakes sold 76.7 million units for N767.2 million, Access Holdings transacted 44.8 million units valued at N1.1 billion, Linkage Assurance exchanged 23.0 million units worth N41.2 million, and The Initiates traded 20.2 million units for N562.1 million.
At the close of trades, market participants transacted 608.5 million units worth N32.0 billion in 53,826 deals versus the 588.5 million units valued at N27.9 billion executed in 57,352 deals in the previous session. This showed that the number of deals eased by 6.15 per cent, the volume of transactions rose by 3.40 per cent, and the value of transactions soared by 14.70 per cent.
By Adedapo Adesanya
The Naira further depreciated against the United States Dollar by N3.46 or 0.25 per cent to N1,362.21/$1 from N1,358.75/$1 in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, June 5.
However, it appreciated against the Pound Sterling in the same market window during the session by N4.47 to trade at N1,823.59/£1 compared with the previous day’s N1,828.06/£1, and gained N7.00 against the Euro to sell at N1,574.58/€1, in contrast to Thursday’s closing price of N1,581.58/€1.
For another trading session, the Nigerian Naira maintained stability against the Dollar in the parallel market and the GTBank forex counter on Friday at N1,375/$1 and N1,372/$1, respectively.
The Naira is expected to remain strong in the near term, backed by a rise in external reserves, which are nearing $50 billion, enhancing analysts’ confidence about its outlook in the second half of 2026.
Heightened global uncertainty has reduced the incentive for importers and corporates to demand FX, as cautious trade weighs on import needs. Analysts estimate a $40 billion net FX position for the year, a projection anchored in oil windfall gains.
As for the cryptocurrency market, prices remained depressed following a strong US jobs report that spurred markets to price in higher-for-longer interest rates, sending Treasury yields and the dollar up while hammering stocks, especially AI-related names. Crypto markets saw heavy leverage washouts with about $1.6 billion in positions liquidated over 24 hours.
Ethereum (ETH) gave up 4.9 per cent to trade at $1,584.68, Solana (SOL) fell by 3.3 per cent to $63.22, Bitcoin (BTC) crashed by 1.9 per cent to $61,333.23, Dogecoin (DOGE) slipped by 1.8 per cent to $0.0821, and Ripple (XRP) moderated by 1.8 per cent to $1.09.
Further, TRON (TRX) dropped 1.6 per cent to sell at $0.3197, Binance Coin (BNB) slumped by 1.0 per cent to $581.18, and Cardano (ADA) declined by 0.4 per cent to $0.1589, while the US Dollar Tether (USDT) gained 0.07 to sell at $0.9997, and US Dollar Coin (USDC) closed flat at $0.9998.
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