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Economy

Friesland, UBN Property Slice N8.38bn From Unlisted Stock Exchange

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unlisted stock exchange

By Adedapo Adesanya

The unlisted stock exchange in Nigeria closed the first trading session of this week in bearish territory on Monday on the back of profit-taking spurred by uncertainties in the macroeconomic environment.

Business Post reports that the NASD Over-the-Counter (OTC) Securities Exchange sank by 0.89 per cent at the close of transactions yesterday due to selling pressure on FrieslandCampina Wamco Nigeria Plc and UBN Property Plc.

The milk manufacturer lost N4.06 during the session to close at N64.94 per share compared with the preceding session’s N69.00 per share, and the real estate firm depreciated by 8 Kobo to finish at 73 Kobo per unit, in contrast to last Friday’s price of 81 Kobo.

The poor performance of the duo trimmed the market capitalisation of the bourse yesterday by N8.38 billion to N930.61 billion from N938.99 billion and slashed the NASD Unlisted Securities Index (NSI) by 6.38 points to wrap the session at 708.22 points compared with 714.60 points in the previous session.

The activity chart and the outcome of the key performance indicators clearly showed that the exchange was under selling pressure.

The volume of transactions witnessed a significant surge, 1,578.6 per cent, as investors bought and sold 2.2 million units of securities compared with the 135,116 units of securities transacted in the previous trading session.

Likewise, the value of shares traded at the session rose by 27 per cent to N13.1 million from N10.3 million, while the number of deals increased by 154.6 per cent to 28 deals from the 11 deals executed in the preceding session.

UBN Property Plc ended the day as the most traded stock by volume on a year-to-date basis, with 4.3 million units valued at N3.2 million, followed by FrieslandCampina Wamco Nigeria Plc with 411,998 units worth N27.6 million, and VFD Group Plc with 401,410 units valued at N97.9 million.

However, the most active stock by value (year-to-date) was VFD Group Plc, with 401,410 units worth N97.9 million, trailed by FrieslandCampina Wamco Nigeria Plc with 411,998 units valued at N27.6 million, and Nipco Plc with 107,398 units worth N6.4 million.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Economy

Nigerian Exchange Attracts N11.841bn in Pre-Guber Poll Trades

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Nigerian Exchange 1

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited recorded the sale of 853.745 million shares worth N11.841 billion in 18,543 deals last week compared with the 1.023 billion shares worth N20.221 billion transacted in 18,650 deals a week earlier.

It was observed that Nigerian stock investors trimmed down their investments in local equities ahead of the governorship and state parliamentary elections over the weekend.

Analysis of the trades showed that financial shares led the activity chart in the week, with a turnover of 547.566 million units valued at N7.100 billion in 9,419 deals, contributing 64.14 per cent and 59.97 per cent to the total trading volume and value, respectively.

Equities in the conglomerates industry recorded the sale of 85.145 million shares worth N134.734 million in 717 deals, while stocks in the consumer goods sectors posted a turnover of 52.981 million shares worth N1.584 billion in 2,865 deals.

Business Post reports that Transcorp, Zenith Bank and Sterling Bank were the most active stocks as they sold 226.004 million units worth N2.041 billion in 2,613 deals, accounting for 26.47 per cent and 17.24 per cent of the total trading volume and value, respectively.

In the week, the All-Share Index (ASI) and the market capitalisation depreciated by 1.58 per cent to close at 54,915.39 points and N29.916 trillion apiece.

Similarly, all other indices finished lower except the consumer goods and the Growth indices, which appreciated by 1.11 per cent and 2.90 per cent each, while the ASeM, energy, and the sovereign bond index closed flat.

A total of 19 stocks appreciated in price during the week compared with the 22 stocks in the previous week, while 47 equities depreciated in price, higher than 41 equities in the previous week, with 91 shares closing flat, in contrast to the 94 shares in the previous week.

United Capital was the worst-performing stock last week after it shed 16.72 per cent to finish at N12.20, Linkage Assurance lost 10.87 per cent to close at 41 Kobo, Ecobank depreciated by 10.00 per cent to N10.80, Industrial and Medical Gases fell by 9.32 per cent to N7.30, NPF Microfinance Bank depleted by 8.47 per cent to N1.73.

On the flip side, Prestige Assurance gained 9.76 per cent to trade at 45 Kobo, Nigerian Enamelware grew by 9.57 per cent to N17.75, University Press expanded by 9.34 per cent to N1.99, CWG chalked up 8.79 per cent to close at 99 Kobo, and FTN Cocoa increased by 7.69 per cent to 28 Kobo.

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Economy

NASD OTC Exchange Closes 0.36% Higher as Trading Volume Surges

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NASD OTC exchange

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed the Friday session on March 17 in the positive territory as three stocks pushed the market up by 0.36 per cent.

The three price gainers were led by Niger Delta Exploration and Production (NDEP) Plc, which added N15.00 to move up to N205.00 per unit from N190.00 per unit.

FrieslandCampina Wamco Nigeria Plc appreciated during the trading day by N1.11 to close at N75.11 per share compared with the previous day’s value of N74.00 per share, while Afriland Properties Plc went up by 2 Kobo to settle at N2.09 per unit versus Thursday’s value of N2.07 per unit.

The trio pushed down the N4.00 lost by 11 Plc yesterday, as the stock price of the energy firm ended at N150.00 per share, in contrast to the preceding day’s N154.00 per share.

At the close of business, the market capitalisation of the NASD OTC exchange rose by N3.48 billion to close the day at N961.12 billion compared with the preceding day’s N957.64 billion.

In the same vein, the NASD Unlisted Securities Index (NSI) appreciated by 2.65 points to wrap the session at 731.44 points compared with 728.79 points of the previous session.

Yesterday, there was a jump in the volume of securities traded by 2,115.1 per cent to 739,755 units from 33,396 million units, the value of transactions increased by 15,683.7 per cent to N30.6 million from N193,846, and the number of deals jumped by 150 per cent to 10 deals from the four deals carried out a day earlier.

Geo-Fluids Plc remained the most traded stock by volume (year-to-date) by trading 425.2 million units valued at N448.5 million, UBN Property Plc was in second place for selling 365.8 units worth N309.5 million, and NRMC Plc was in third place for exchanging 25.0 million units valued at N137.5 million.

On a year-to-date basis by value, VFD Group Plc was on top of the chart after trading 7.3 million units worth N1.7 billion, trailed by Geo-Fluids Plc with 425.2 million units worth N448.5 million, and UBN Property Plc with 365.8 million units valued at N309.5 million.

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Economy

Naira Appreciates at Black Market, Peer-to-Peer, I&E

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Peer-to-Peer lending

By Adedapo Adesanya

The Naira appreciated against the United States currency in the Peer-to-Peer (P2P), the black market and the Investors and Exporters (I&E) windows of the foreign exchange (FX) window on Friday, March 17.

The Naira gained N2 against the US Dollar during the session as it closed at N754/$1, in contrast to the previous session’s value of N756/$1.

In the parallel market, the domestic currency improved its value by N1 against the American Dollar on Friday to quote at N747/$1 compared with Thursday’s exchange rate of N748/$1.

It was a similar outcome for the Nigerian currency at the I&E segment of the market as it closed stronger against the greenback by 17 Kobo or 0.04 per cent to sell at N461.83/$1 versus the N462.00/$1 it was quoted at the previous session.

This happened as there was a 10.2 per cent or $9.97 million in the value of forex transactions recorded during the session to $87.81 million from the $97.78 million reported a day earlier.

In the interbank segment of the market, the Naira witnessed no movement against the Pound Sterling and the Euro, closing at N556.45/£1 and N487.99/€1, respectively.

In the cryptocurrency market, Bitcoin (BTC) moved to a fresh nine-month high on Friday at above the $27,000 level. The surge followed the US Federal Reserve’s decision to backstop embattled banks to a record of $152.9 billion.

BTC recorded a 6.0 per cent rise to trade at $27,546.42, Ethereum (ETH) improved by 5.8 per cent to sell at $1,813.37, Solana (SOL) chalked up 11.9 per cent to quote at $22.48, Litecoin (LTC) went up by 6.4 per cent to trade at $86.62, and  Cardano (ADA) rose by 6.2 per cent to trade at $0.3523.

Further, Dogecoin (DOGE) made a 4.8 per cent appreciation to quote at $0.0776, Ripple (XRP) recorded a 3.9 per cent gain to settle at $0.3843, and Binance Coin (BNB) added 3.8 per cent to sell for $344.22, while the US Dollar Tether (USDT) and Binance USD (BUSD) traded at $1.00 each.

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