Economy

47 Stocks Crash NSE by 0.99% as Neimeth Sheds 40.08% Last Week

Published

6 years ago

22/06/2020

By Dipo Olowookere

One of the healthcare shares on the Nigerian Stock Exchange (NSE), Neimeth International Pharmaceuticals Plc, seems to have ended its honeymoon at the market.

The stock, which has enjoyed a geometric growth in the past few weeks, moving from 40 kobo per unit in March 2020 to N2.57 per share in June 2020, recording 542.5 percent appreciation in three months, led the losers’ chart of 47 members last week. In the previous week, the exchange reported 31 decliners.

Neimeth lost 40.08 percent or N1.03 per share to close for the week at N1.54 per unit after opening at N2.57 per share. The reason for the decline was because investors were booking profit and this watered down its value at the market.

NPF Microfinance Bank followed with a loss of 25.13 percent to sell at N1.40 per unit, with Prestige Assurance falling by 18.57 percent to trade at 57 kobo per share.

In addition, AIICO Insurance declined by 15.25 percent to quote at N1.00 per share, while UAC Property went down by 12.50 percent to close at 91 kobo per unit.

In the week, there were 14 price risers, lower than the 37 of the preceding week, with Honeywell topping the chart with a 17.39 percent growth to finish at N1.08 per share.

Nestle Nigeria gained 10.00 percent to end at N1,094.50 per unit, Cutix also appreciated by 10.00 percent to sell at N1.76 per share, Red Star Express improved by 9.09 percent to N3.60 per unit, while Cornerstone Insurance grew by 7.84 percent to 55 kobo per unit.

Business Post reports that the All-Share Index (ASI) and market capitalisation both depreciated by in the week by 0.99 percent to close at 24,826.75 points and N12.951 trillion.

All other indices finished lower with the exception of the main board, NSE MERI Growth, consumer goods, NSE Lotus II and industrial goods indices, which appreciated by 1.00 percent, 1.42 percent, 1.81 percent, 1.01 percent and 2.24 percent respectively, while the ASeM counter closed flat.

On the activity log, a total turnover of 1.1 billion shares worth N10.1 billion exchanged hands in 19,576 deals in contrast to the 1.1 billion stocks valued at N9.9 billion traded a week earlier in 16,616 deals.

A breakdown down of the transactions showed that the financial services sector dominated the market with 736.3 million units worth N5.5 billion traded in 9,776 deals, contributing 70.13 percent and 54.04 percent to the total equity turnover volume and value respectively.

The conglomerates space followed with 69.5 million shares valued at N334.5 million in 471 deals, while the consumer goods industry occupied the third place with a turnover of 66.4 million shares worth N1.4 billion in 3,130 deals.

A further analysis revealed that GTBank, FBN Holdings and FCMB were the most attractive to market participants in the week.

The three financial stocks accounted for 316.3 million shares worth N3.4 billion traded in 2,983 deals, contributing 30.13 percent and 33.08 percent to the total equity turnover volume and value respectively.

Economy

MRS Oil, FrieslandCampina Wamco Shrink NASD Index by 0.68%

Published

2 days ago

06/06/2026

Adedapo Adesanya

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.

Economy

NGX Index Rebounds 0.15% on Renewed Interest in Financial Stocks

Published

2 days ago

06/06/2026

Dipo Olowookere

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.

Economy

Naira Depreciates to N1,362/$1 at Official Market

Published

2 days ago

06/06/2026

Adedapo Adesanya

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.