Economy
Financial Stocks Contribute 71.51% to NSE Weekly Trading Volume
By Dipo Olowookere
A total of 1.5 billion shares worth N19.0 billion were traded in 17,400 deals by investors at the Nigerian Stock Exchange (NSE) last week, which only had four trading sessions.
In the preceding week, which had five sessions, market participants transacted 1.5 billion shares valued at N21.3 billion executed in 20,016 deals.
Analysis showed that financial stocks accounted for 1.0 billion units worth N13.4 billion traded in 9,179 deals, contributing 71.51 per cent and 70.22 per cent to the total trading volume and value respectively.
Equities in the conglomerate sector recorded 131.2 million shares worth N578.4 million traded in 811 deals, while shares in the consumer goods industry recorded 92.9 million shares worth N1.8 billion carried out in 2,892 deals.
A further breakdown indicated that GTBank, Union Bank and Wema Bank were the most active stock at the market in the week, accounting for 670.4 million shares worth N10.3 billion in 1,990 deals, contributing 46.39 per cent and 54.26 per cent to the total trading volume and value respectively.
A total of 42 equities appreciated in price during the week, lower than 48 equities in the previous week, while 22 equities depreciated in price, higher than 18 equities in the previous week, with 98 equities closing flat, higher than 96 equities recorded in the previous week.
Linkage Assurance was the best-performing stock as its value went up by 41.18 per cent to 72 kobo and was trailed by Royal Exchange, which grew by 37.50 per cent to 33 kobo.
Guinness Nigeria appreciated by 19.67 per cent to N35.90, Meyer gained 19.51 per cent to sell for 49 kobo, while Custodian Investment rose by 18.33 per cent to N7.10.
On the flip side, the worst-performing stock in the week was Daar Communications as its equity value depreciated by 16.00 per cent to 21 kobo.
Regency Assurance lost 12.12 per cent to close at 29 kobo, FTN Cocoa fell by 8.70 per cent to 42 kobo, University Press declined by 7.76 per cent to N1.07, while Unity Bank dropped 6.67 per cent to 70 kobo.
In the week, the All-Share Index (ASI) and market capitalisation depreciated by 0.76 per cent to close at 38,916.74 points and N20.361 trillion respectively.
All other indices finished lower with the exception of NSE mainboard, NSE Pension, insurance, NSE AFR Div Yield, NSE MERI Value and NSE consumer goods indices, which appreciated by 0.06 per cent, 0.78 per cent, 2.82 per cent, 2.64 per cent, 1.82 per cent and 1.93 per cent respectively while the NSE ASeM index closed flat.
Like last week, which had only four trading sessions, this week will also witness only for trading days because of the public holidays declared by the federal government on Friday, April 2 (Good Friday) and Monday, April 5, 2021 (Easter Monday) to commemorate the 2021 Easter celebrations.
By Adedapo Adesanya
Food Concepts Plc, the parent company of fast food brands like Chicken Republic and PieXpress, has disclosed plans to pay 10 Kobo in interim dividend to new and existing shareholders for the 2026 financial year.
This was disclosed by the company in a notice to the NASD Over-the-Counter (OTC) Securities Exchange, where it trades its securities.
The notice indicated that the proposed interim dividend, which comes with no bonus, will be paid to those who hold the stocks of the company as of the qualification date for the dividend, which was Tuesday, March 24.
This means only those who hold the company’s shares as of the closing session will be eligible to receive the stipulated dividend payment.
The shareholders of the company will be credited with the 10 Kobo dividend on Tuesday, March 31.
The notice noted that the closure of the company’s register will be on Wednesday, March 25, through Friday, March 27, 2026, both days inclusive.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange dropped for the third consecutive session on Wednesday, March 18, by 0.39 per cent due to continued sell-offs.
In what would be the final trading session of the week due to public holidays on Thursday and Friday for Eid-el-Fitr, the NASD Unlisted Security Index (NSI) further dipped by 16.14 points to 4,114.75 points from 4,130.89 points, and the market capitalisation lost N9.66 billion to close at N2.461 trillion versus the previous day’s N2.471 trillion.
FrieslandCampina Wamco Nigeria Plc depreciated by N10.32 to sell at N112.00 per share versus N122.32 per share, NASD Plc dropped N4.50 to finish at N41.50 per unit compared with the previous session’s N46.00 per unit, and Geo-Fluids decreased by 9 Kobo to N3.02 per share from N3.11 per share.
On the flip side, Air Liquide Plc improved by N2.23 to N24.57 per unit from N22.34 per unit, Central Securities Clearing System (CSCS) Plc advanced by 90 Kobo to N76.33 per share from N75.43 per share, Food Concepts Plc rose by 24 Kobo to N3.30 per unit from N3.06 per unit, UBN Property Plc surged by 20 Kobo to N2.18 per share from N1.98 per share, Impresit Bakalori Plc jumped 16 Kobo to N1.83 per unit from N1.67 per unit, and First Trust Mortgage Bank Plc added 14 Kobo to trade at N1.89 per share versus N1.75 per share.
During the trading day, the volume of securities went up by 43,404.4 per cent to 400.8 million units from 921,265 units, the value of securities grew by 2,108.7 per cent to N1.2 billion from N54.7 million, and the number of deals soared by 23.7 per cent to 47 deals from 38 deals.
CSCS Plc ended the day as the most traded stock by value (year-to-date) with 38.7 million units valued at N2.4 billion, followed by Infrastructure Guarantee Credit Plc with 400 million units exchanged for N1.2 billion, and Okitipupa Plc with 6.4 million units traded for N1.2 billion.
Resourcery Plc finished the session as the most traded stock by volume (year-to-date) with 1.1 billion units worth N415.7 million, trailed by Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion, and Geo-Fluids Plc with 131.1 million units valued at N505.6 million.
By Dipo Olowookere
The Nigerian Exchange (NGX) experienced a pullback of 0.69 per cent as a result of profit-taking by investors, with shares in the banking and energy sectors mostly affected.
Data harvested by Business Post showed that the energy index was down by 4.58 per cent during the session, and the banking space lost 2.14 per cent.
They brought down the All-Share Index (ASI) by 1,402.56 points to 201,156.85 points from 202,559.41 points and shrank the market capitalisation by N900 billion to N129.126 trillion from N130.026 trillion.
Customs Street ended in red at midweek despite three of the five key sectors finishing in green. The consumer goods counter expanded by 1.19 per cent, the industrial goods index improved by 0.46 per cent, and the insurance sector grew by 0.43 per cent.
Red Star Express declined by 9.98 per cent to N25.70, Aradel Holdings went down by 9.68 per cent to N1,210.30, Presco lost 9.30 per cent to trade at N1,701.10, Living Trust Mortgage Bank crashed by 8.40 per cent to N4.80, and DAAR Communications dropped 7.50 per cent to end at N1.85.
On the flip side, Secure Electronic Technology gained 10.00 per cent to settle at N1.32, Guinness Nigeria rose by 9.92 per cent to N423.20, John Holt increased by 9.72 per cent to N11.85, Sovereign Trust Insurance surged by 9.57 per cent to N2.06, and Linkage Assurance chalked up 9.33 per cent to trade at N1.64.
Investor sentiment was weak yesterday after the bourse registered 33 price gainers and 38 price losers, indicating a negative market breadth index.
Market participants bought and sold 6.1 billion stocks valued at N130.1 billion in 58,562 deals compared with the 1.8 billion stocks worth N88.1 billion traded in 62,654 deals on Tuesday, representing a shortfall in the number of deals by 6.53 per cent, and a spike in the trading volume and value by 238.89 per cent and 47.67 per cent apiece.
The most active equity on Wednesday was eTranzact with 5.2 billion units sold for N24.3 billion, Wema Bank exchanged 111.4 million units worth N3.1 billion, Coronation Insurance transacted 96.4 million units valued at N303.9 million, Dangote Cement traded 75.2 million units for N56.5 billion, and Access Holdings exchanged 61.5 million units valued at N1.6 billion.
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