Economy
Investors Exchange N18.4bn Shares in Four Days
By Dipo Olowookere
A total of 1.6 billion shares worth N18.4 billion were exchanged by investors last week on the floor of the Nigerian Exchange (NGX) Limited in 21,621 deals.
When compared with the preceding week, it was lower because market participants transacted 2.8 billion shares valued at N31.7 billion in 23,355 deals.
One factor that may have caused this decline in the activity level was the closure of the market last Tuesday as a result of the public holiday declared by the federal government to commemorate the Islamic festival of Eid-el-Maulud. This means the market only operated for four days last week.
Analysis showed that financial stocks maintained its lead on the activity chart with the sale of 1.2 billion units worth N12.8 billion traded in 13,272 deals, contributing 75.38 per cent and 69.33 per cent to the total trading volume and value respectively.
It was followed by ICT equities with a turnover of 131.6 million units worth N2.2 billion in 636 deals, and conglomerates stocks with a turnover of 110.8 million units worth N262.2 million in 928 deals.
The trio of FBN Holdings, e-Tranzact International and Access Bank was the most active stocks with the sale of 626.9 million units valued at N6.3 billion in 3,677 deals, accounting for 40.07 per cent and 34.29 per cent of the trading volume and value respectively.
On the price movement table, 34 stocks were on the gainers’ log, lower than the 45 stocks in the previous week, while 36 stocks were on the losers’ chart, higher than 15 stocks of the earlier week, with 86 stocks closing flat, lower than 95 of the preceding week.
The highest price gainer was NGX Group as it rose by 23.94 per cent to trade at N22.00. Cutix gained 21.00 per cent to close at N6.05, Unilever Nigeria appreciated by 9.85 per cent to finish at N14.50, Custodian Investment rose by 9.59 per cent to N8.00, while Ecobank grew by 9.42 per cent to N7.55.
On the other hand, the highest price loser was Royal Exchange after its value went down by 17.19 per cent to 53 kobo. Universal Insurance dropped 9.09 per cent to 20 kobo, The Initiates fell by 8.51 per cent to 43 kobo, Academy Press depreciated by 8.33 per cent to 33 kobo, while May & Baker decreased by 8.02 per cent to N4.36.
When the market closed for the week last Friday, the All-Share Index (ASI) and market capitalisation appreciated by 0.78 per cent to 41,763.26 points and N21.794 trillion respectively.
However, all other indices finished lower with the exception of main board, NGX 30, banking, energy, industrial goods and sovereign bond indices which jumped by 1.64 per cent, 0.80 per cent, 0.69 per cent, 1.40 per cent, 2.59 per cent and 0.03 per cent respectively, while the ASeM index closed flat.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited came under pressure on Friday, staggering by 0.21 per cent at the close of trading activities.
Investors embarked on profit-taking yesterday, particularly in the energy and industrial goods sectors, which closed lower by 0.43 per cent and 0.06 per cent, respectively.
The gains reported by the others could not extend the stay of Customs Street in the positive territory yesterday.
Data showed that the insurance counter closed higher by 2.07 per cent, and the banking space improved by 0.55 per cent, while the consumer goods and commodity indices closed flat.
When the closing gong was struck by 2:30 pm, the All-Share Index (ASI) was down by 224.91 points to 104,563.34 points from 104,788.25 points and the market capitalisation contracted by N141 billion to N65.707 trillion from N65.848 trillion.
Deap Capital lost 9.71 per cent to trade at 93 Kobo, Royal Exchange crumbled by 9.09 per cent to 80 Kobo, Sovereign Trust Insurance fell by 7.61 per cent to 85 Kobo, Guinea Insurance depreciated by 7.35 per cent to 63 Kobo, and Oando dwindled by 5.57 per cent to N39.00.
Conversely, Caverton jumped by 9.96 per cent to N2.54, VFD Group surged by 9.90 per cent to N87.70, Abbey Mortgage Bank gained 9.86 per cent to close at N6.13, FTN Cocoa advanced by 9.83 per cent to N1.90, and Regency Alliance rose by 9.43 per cent to 58 Kobo.
On Friday, investors traded 380.0 million equities worth N10.1 billion in 10,791 deals versus the 432.6 million equities valued at N9.7 billion transacted in 12,027 deals in the previous trading session, indicating an uptick in the value of transactions by 4.12 per cent and contractions in the volume of trades and the number of deals by 12.16 per cent and 10.28 per cent apiece.
Access Holdings retained its position as the most active equity with 73.2 million units sold for N1.5 billion, Zenith Bank exchanged 33.4 million units worth N1.7 billion, Cutix transacted 29.7 million units valued at N63.0 million, GTCO traded 25.7 million units worth N1.7 billion, and Fidelity Bank transacted 19.7 million units valued at N374.2 million.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange went down by 0.31 per cent on Friday, April 10, with the Unlisted Security Index (NSI) depreciating by 1038 points to 3,277.57 points from the previous session’s 3,287.85 points.
Similarly, the market capitalisation of the bourse depleted by N6.02 billion to close at N1.919 trillion from the N1.925 trillion it ended on Thursday.
FrieslandCampina Wamco Nigeria Plc gave away N2.95 to close at N35.55 per unit versus the previous day’s N38.50 per unit and Acorn Petroleum Plc lost 13 Kobo to end at N1.17 per share from the previous closing value of N1.30 per share.
During the session, there was a 750.8 per cent surge in the volume of securities transacted to 152.3 million units from the 18.1 million units transacted in the previous trading day, the value of transactions grew by 2,268.9 per cent to N4.6 billion from N192.9 million, and the number of deals went down by 20 per cent to 16 deals from 20 deals.
Impresit Bakolori Plc remained the most active stock by volume on a year-to-date basis with 533.9 million units worth N520.9 million, followed by Okitipupa Plc with 153.6 million units sold for N4.9 billion, and Industrial and General Insurance (IGI) Plc with 71.2 million units valued at N24.2 million.
However, Okitipupa Plc became the most traded stock by value on a year-to-date basis with 153.6 million valued at N4.9 billion, trailed by FrieslandCampina Wamco Nigeria Plc with 14.6 million units worth N562.7 million, and Impresit Bakolori Plc with 533.9 million units sold for N520.9 million.
By Adedapo Adesanya
The Naira closed the last trading session of the week in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on a positive note on Friday, April 11 with a gain of 1.2 per cent or N18.86 against the United States Dollar.
During the trading day, it was exchanged at the official forex market at N1,611.08/$1, in contrast to the N1,629.94/1 it was traded a day earlier.
The local currency strengthened yesterday at the currency market after the Dollar weakened in the international scene, making currencies like the Naira have a sigh of relief.
Also supporting this is efforts by the Central Bank of Nigeria (CBN) to prop the market with the necessary liquidity.
However, the domestic currency depreciated against the British Pound Sterling at the spot market during the session by N5.57 to settle at N2,090.58/£1 compared with Thursday’s closing price of N2,085.01/£1 and lost N10.18 against the Euro to sell for N1,815.82/€1, in contrast to the preceding day’s N1,805.64/€1.
At the parallel market, the Nigerian Naira traded flat against the greenback on Friday, remaining unchanged at N1,620/$1.
As for the cryptocurrency market, it was bullish after the US Dollar fell to a 3-year low and Producer Price Index (PPI) inflation dropped sharply.
The drop in the greenback made it possible for investors and traders to buy more while the index came in at 2.7 per cent versus the anticipated 3.3 per cent while the core PPI print also surprised to the downside.
Solana (SOL) appreciated by 5.4 per cent to $123.31, Dogecoin (DOGE) rose by 4.3 per cent to $0.1638, Bitcoin (BTC) increased by 3.2 per cent to $83,697.39, and (XRP) added 2.4 per cent to quote at $2.04, and Binance Coin (BNB) soared by 1.4 per cent to $587.41.
In addition, Ethereum (ETH) improved by 1.2 per cent to $1,573.75, Cardano grew by 0.3 per cent to $0.6234, Litecoin (LTC) also went up by 0.3 per cent to $76.20, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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