Economy
Market Participants Trade N99.865bn Shares on NGX in Five Days
By Dipo Olowookere
The level of activity on the floor of the Nigerian Exchange (NGX) Limited waned last week after market participants bought and sold 3.748 billion shares worth N99.865 billion in 237,179 deals compared with the 4.607 billion shares valued at N130.636 billion traded in 263,439 deals in the preceding week.
It was observed that the financial services sector recorded a turnover of 1.742 billion stocks worth N44.893 billion executed in 90,589 deals, contributing 46.49 per cent and 44.95 per cent to the total trading volume and value, respectively.
The services industry transacted 707.617 million shares worth N4.379 billion in 18,322 deals, and the ICT space exchanged 303.216 million equities for 5.932 billion in 24,107 deals.
The trio of Secure Electronic Technology, Tantalizers, and Access Holdings accounted for 734.086 million units worth N5.720 billion in 15,726 deals, contributing 19.59 per cent and 5.73 per cent to the total trading volume and value apiece.
Business Post reports that 58 equities appreciated in the week versus 80 equities in the previous week, 40 stocks depreciated compared with the 17 stocks recorded a week earlier, and 50 shares closed flat, same as the preceding week.
Deap Capital led the gainers’ chart after chalking up 60.09 per cent to close at N7.14, SCOA Nigeria appreciated by 59.73 per cent to N23.80, NCR Nigeria expanded by 46.36 per cent to N188.15, Zichis grew by 44.75 per cent to N2.62, and DAAR Communications jumped by 451.67 per cent to N1.53.
Conversely, Eterna led the losers’ log with a decline of 11.92 per cent to trade at N28.45, Secure Electronic Technology lost 10.19 per cent to finish at 97 Kobo, Industrial and Medical Gases declined by 9.95 per cent to N34.85, Aluminium Extrusion slumped by 9.95 per cent to N17.20, and UPDC went down by 8.06 per cent to N5.70.
In the week, which was battered by profit-taking, the All-Share Index (ASI) was down by 0.39 per cent to 165,512.18 points and the market capitalisation depreciated by 0.37 per cent to N105.959 trillion.
Similarly, all other indices finished lower apart from the energy, Lotus ll, growth, and commodity indices, which appreciated by 1.36 per cent, 0.37 per cent, 6.27 per cent and 0.79 per cent, respectively.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange was weakened by 1.19 per cent on Thursday, July 9, by three bellwether stocks on the platform.
Consequently, the NASD Security Index (NSI) lost 50.47 points to close at 4,199.73 compared with the previous day’s 4,250.20 points, and the market capitalisation gave up N30.29 billion to settle at N2.520 trillion versus Wednesday’s closing value of N2.551 trillion.
The price decliners were led by 11 Plc, which fell by N20.54 to sell at N200.01 per share compared with the preceding session’s N220.55 per share. FrieslandCampina Wamco Nigeria Plc crashed by N11.48 to trade at N140.51 per unit compared with the N151.98 per unit it ended a day earlier, and UBN Property Plc depreciated by 19 Kobo to N1.80 per share from N1.99 per share.
Business Post reports that the sole gainer at the session was IPWA Plc, which added 88 Kobo to quote at N9.71 per unit, in contrast to the previous day’s closing price of N8.83 per unit.
Yesterday, the volume of securities traded by market participants surged by 14,965.4 per cent to 23.9 million units from the previous session’s 158,933 units, and the value of stocks rose by 528.1 per cent to N68.2 million from the preceding session’s N10.9 million, while the number of deals decreased by 3.2 per cent to 30 deals from Wednesday’s 31 deals.
Great Nigeria Insurance (GNI) Plc closed the trading day as the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and Central Securities Clearing System (CSCS) Plc with 70.7 million units exchanged for N4.9 billion.
GNI Plc also closed the day 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 traded for N415.7 million.
By Adedapo Adesanya
A slowdown in the demand for foreign exchange (FX) strengthened the value of the Nigerian Naira against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Thursday, July 9.
At the official market, the Naira gained 64 Kobo or 0.05 per cent against the greenback yesterday to sell at N1,378.43/$1 compared with Wednesday’s exchange rate of N1,379.07/$1.
The market saw a sharp decrease in transaction volume and value, meaning that heavy demand for the Dollar eased.
Interbank FX turnover reduced sharply by more than 62 per cent to $78.708 million, according to the Central Bank of Nigeria (CBN), from $208.094 million in the preceding day.
FX traders also noticed a sharp decline in the number of deals at the NFEM window in the absence of Dollar injection by the central bank. Deal counts shrank to 106 during the NFEM window, down from 150, reflecting a slowdown in FX activity among market makers.
However, the local currency depreciated against the Pound Sterling in the spot market during the session by N6.18 to N1,846.82/£1 from N1,840.64/£1, and declined against the Euro by N2.79 to close at N1,576.09/€1 versus the preceding session’s N1,573.30/€1.
At the GTBank FX desk, the Naira lost N4 against the US Dollar to quote at N1,385/$1, in contrast to the N1,381/$1 it was traded at midweek, and at the parallel market, it remained unchanged at N1,400/$1.
Meanwhile, the cryptocurrency market soared after a moderation in oil prices and bond yields following the collapse of the Iran war ceasefire.
As has been the pattern for months, markets are looking past inflamed rhetoric and new airstrikes to likely conciliatory statements in the near future.
Bitcoin (BTC) gained 2.3 per cent to sell at $64,048.89, Dogecoin (DOGE) grew by 1.9 per cent to $0.0741, Ethereum (ETH) expanded by 1.6 per cent to $1,777.98, Solana (SOL) rose by 1.0 per cent to $79.13, Ripple (XRP) appreciated by 0.9 per cent to $1.10, Binance Coin (BNB) added 0.6 per cent to sell for $576.91, and TRON (TRX) also improved by 0.6 per cent to $0.3329.
However, Cardano (ADA) crashed by 0.9 per cent to $0.1669, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
By Dipo Olowookere
Subscription for the July 2026 edition of the FGN savings bond is closing today, Friday, July 10.
The exercise started on Monday, July 6, with two tenures of two years and three years on offer to retail investors.
The retail bonds are sold by the federal government through the Debt Management Office (DMO) to raise funds for the country’s budget deficits.
The savings bond offers investors steady tax-free income. It is risk-free, backed by the Nigerian government, and listed on the Nigerian Exchange (NGX) Limited, allowing for secondary market trading and easy exit before maturity.
For the two-year FGN savings bond maturing on July 15, 2028, the debt office is offering it at a 14.716 per cent per annum interest rate, while the three-year FGN savings bond due July 15, 2029, is at 15.716 per cent per annum, with the interest on the investment being paid by the government every quarter.
Intending investors can purchase the debt instrument at a unit price of N1,000, subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50.0 million.
