Economy
Investment in Nigerian Stocks Slows to N49.486bn in One Week
By Dipo Olowookere
Investors applied caution in their exposure to Nigerian stocks last week after evaluating data from the National Bureau of Statistics (NBS) and the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN).
Last Tuesday, the NBS, after rebasing their Consumer Price Index (CPI), said inflation for January 2025 was 24.48 per cent compared with the 34.80 per cent recorded in December 2024. Two days last, the central bank retained the Monetary Policy Rate (MPR), also known as the interest rate, at 27.50 per cent.
Traders at the Nigerian Exchange (NGX) Limited examined the data and decided to cut down their investment in equities, leading to sale of 2.001 billion shares worth N49.486 billion in 70,853 deals compared with the 2.414 billion shares valued at N55.512 billion traded in 80,988 deals in the preceding week.
Business Post reports that financial stocks led the activity chart with 1.199 billion units sold for N26.325 billion in 30,527 deals, contributing 59.91 per cent and 53.20 per cent to the total trading volume and value, respectively.
Agriculture shares recorded a turnover of 234.002 million units valued at N1.683 billion in 3,191 deals, and consumer goods equities traded 173.829 million units worth N7.150 billion in 8,903 deals.
Access Holdings, Ellah Lakes, and Fidelity Bank accounted for 618.543 million units worth N11.207 billion in 7,159 deals, contributing 30.92 per cent and 22.65 per cent to the total trading volume and value, respectively.
Abbey Mortgage Bank was the best-performing stock in the week with 16.13 per cent rise to trade at N3.60, Smart Products Nigeria gained 15.38 per cent to quote at 30 Kobo, Dangote Sugar increased by 15.00 per cent to N41.40, BUA Foods grew by 11.91 per cent to N418.00, and Sovereign Trust Insurance soared by 11.86 per cent to N1.32.
On the flip side, Union Dicon lost 25.00 per cent to settle at N6.00, Ikeja Hotel shed 21.43 per cent to N11.00, UDPC declined by 17.99 per cent to N3.10, Academy Press fell by 16.52 per cent to N2.78, and Oando slipped by 15.71 per cent to N59.00.
When the market closed for the week, 28 equities appreciated versus 65 equities of the previous week, 58 stocks depreciated compared with 31 stocks of the preceding week, and 64 shares closed flat, in contrast to the 54 shares recorded a week earlier.
The All-Share Index (ASI) and the market capitalisation appreciated last week by 0.41 per cent and 0.29 per cent each to 108,497.40 points and N67.614 trillion, respectively.
In the same vein, all other indices finished higher apart from the NGX CG, NGX Premium,
banking, pension, AFR Bank Value, AFR Div Yield, MERI Growth, MERI Value, energy, growth and commodity indices, which depreciated by 2.09 per cent, 1.15 per cent, 3.22 per cent, 1.22 per cent, 3.25 per cent, 1.79 per cent, 2.39 per cent, 2.78 per cent, 2.87 per cent, 0.25 per cent and 0.50 per cent, respectively.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange fell by 0.24 per cent on Friday, April 25 after the duo of FrieslandCampina Wamco Nigeria Plc and Afriland Properties Plc landed on the losers’ table.
FrieslandCampina Wamco Nigeria Plc depreciated by N2.58 to sell at N35.37 per unit compared with the previous day’s N37.95 per unit, and Afriland Properties Plc lost 2 Kobo to close at N17.78 per share versus Thursday’s closing value of N17.80 per share.
However, Geo-Fluids Plc appreciated by 10 Kobo during the trading day to sell for N1.80 per unit, in contrast to the preceding session’s N1.70 per unit. The rise in the price of the stock could not prevent the fall of the bourse yesterday.
Consequently, the market capitalisation of the trading platform went down by N4.64 billion to N1.914 trillion from N1.918 trillion and the NASD Unlisted Security Index (NSI) declined by 7.92 points to 3,269.06 points from 3,276.98 points.
The final trading session of the week ended with a surge of 1,695.8 per cent in the volume of securities transacted to 3.7 billion units from the 206.2 milion units transacted in the previous trading day.
Equally, the value of transactions jumped by 2,592.6 per cent to N9.5 billion from N354.1 million on Thursday, and the number of deals decreased by 47.4 per cent to 20 deals from the 38 deals recorded a day earlier.
Impresit Bakolori Plc remained the most active stock by volume on a year-to-date basis with 533.9 million units sold for N520.9 million, followed by Geo-Fluids Plc with 259.3 million units worth N456.1 million, and Okitipupa Plc with 153.6 million units valued at N4.9 billion.
Also, Okitipupa Plc remained the most active stock by value on a year-to-date basis with 153.6 million units valued at N4.9 billion, trailed by FrieslandCampina Wamco Nigeria Plc with 15.6 million units worth N598.5 million, and Impresit Bakolori Plc with 533.9 million units sold for N520.9 million.
By Dipo Olowookere
A 0.30 per cent fall was recorded by the Nigerian Exchange (NGX) Limited on Friday as a result of profit-taking in the industrial goods sector.
This was mainly caused by sell-offs in Dangote Cement Plc, which released its financial statements for the first quarter of 2025 yesterday.
The cement maker lost 10.00 per cent during the session to trade at N432.00, Regency Alliance lost 8.06 per cent to close at 57 Kobo, VFD Group depreciated by 7.57 per cent to N17.10, Chams declined by 7.27 per cent to N2.04, and Sovereign Trust Insurance crashed by 6.12 per cent to 92 Kobo.
Conversely, International Breweries, Legend Internet, and Ikeja Hotel gained 10.00 per cent each to sell for N7.70, N6.82, and N12.10 apiece, Vitafoam Nigeria surged by 9.93 per cent to N44.85, and Eterna rose by 9.92 per cent to N39.90.
The industrial goods index was down by 4.73 per cent on Friday, as the others finished in green territory.
The consumer goods space rose by 2.21 per cent, the banking sector appreciated by 1.55 per cent, the insurance counter expanded by 1.50 per cent, the energy sector increased by 0.07 per cent, and the commodity industry went up by 0.04 per cent.
At the close of transactions, the All-Share Index (ASI) went down by 321.21 points to 105,753.05 points from 106,074.26 points and the market capitalisation shrank by N202 billion to N66.465 trillion from N66.667 trillion.
The level of activity increased yesterday as the trading volume, value, and number of deals grew by 30.40 per cent, 94.23 per cent, and 17.64 per cent, respectively.
This was because investors transacted 428.1 million shares worth N20.2 billion in 14,284 deals compared with the 328.3 million shares valued at N10.4 billion in traded in 12,142 deals a day earlier.
GTCO led the activity chart with 60.7 million equities sold for N3.8 billion, Fidelity Bank traded 41.4 million stocks worth N829.3 million, Access Holdings exchanged 40.6 million shares valued at N968.3 million, MTN Nigeria sold 33.0 million equities for N8.2 billion, and Zenith Bank transacted 22.9 million stocks worth N1.1 billion.
By Adedapo Adesanya
The Naira extended its gains against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, April 25 by 0.22 per cent or N3.59 to sell for N1,599.42/$1 compared with the N1,603.01/$1 it was traded in the previous session.
The Nigerian currency also improved its value against the Euro in the official market by N1.36 to close at N1,818.53/€1 compared with Thursday’s closing price of N1,819.89/€1.
However, the domestic currency depreciated against the Pound Sterling in the same market segment yesterday by N1.90 to wrap the session at N2,130.44/£1 versus the preceding session’s rate of N2,128.50/£1.
At the black market segment, the Naira appreciated against the greenback on Friday by N2 to quote at N1,605/$1, in contrast to the previous day’s value of N1,607/$1.
In the cryptocurrency market, a possible regulatory progress about digital assets in the US spurred buying interest among investors during the trading session.
The chairman of the US Securities and Exchange Commission, Mr Paul Atkins, was at a crypto roundtable on Friday and he devoted his inaugural speech to assuring the industry that he will continue to remake securities policy to favor digital assets innovation.
Litecoin (LTC) rose by 3.0 per cent to $87.24, Dogecoin (DOGE) grew by 2.7 per cent to $0.1862, Bitcoin (BTC) increased by 1.3 per cent to $94,687.84, Ethereum (ETH) jumped by 1.2 per cent to $1,797.51, Cardano (ADA) improved by 0.9 per cent to $0.7235, and Ripple (XRP) gained 0.6 per cent to close at $2.20.
On the flip side, Solana (SOL) depreciated by 0.9 per cent to $151.64, and Binance Coin (BNB) lost 0.8 per cent to sell for $602.89, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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