Economy
Meyer Closes as Best-Performing Stock as Market Rebounds 0.19%
By Dipo Olowookere
Transactions on the floor of the Nigerian Exchange (NGX) Limited closed on a positive note on Tuesday with the bourse appreciating by 0.19 per cent to reverse the loss of the preceding session.
The growth was boosted by renewed bargain hunting, though the investor sentiment remained weak as the market breadth ended bearish with 20 price losers and 18 price gainers.
Meyer finished the session as the best-performing stock with a price appreciation of 8.86 per cent to 86 kobo, followed by Regency Assurance, which grew by 7.14 per cent to 30 kobo.
FTN Cocoa rose by 6.45 per cent to 33 kobo, Cutix appreciated by 5.85 per cent to sell for N2.17, while Caverton improved its equity value by 5.56 per cent to N1.33.
On the flip side, NPF Microfinance Bank ended the day as the worst-performing stock, losing 9.64 per cent to close at N2.25 and was trailed by Learn Africa, which dropped 9.14 per cent to N1.69.
In addition, Multiverse depreciated by 8.70 per cent to quote at 21 kobo, RT Briscoe went down by 6.67 per cent to 56 kobo, while NASCON declined by 5.43 per cent to N12.20.
At the bourse yesterday, Fidelity Bank recorded the highest trading volume, selling 67.4 million shares valued at N230.6 million and was followed by Transcorp, which sold 40.9 million stocks worth N41.4 million.
Coronation Insurance transacted 18.3 million equities worth N7.4 million, GTCO exchanged 15.3 million shares for N341.2 million, while Access Holdings traded 14.5 million stocks for N141.3 million.
From the analysis of the trading data, investors transacted a total of 257.4 million equities worth N2.3 billion in 4,410 deals as against the 219.5 million equities worth N1.9 billion transacted in 5,168 deals on Monday.
This showed that the volume of trades increased by 17.28 per cent, the value of transactions went up by 21.32 per cent, and the number of deals depreciated by 14.67 per cent.
Business Post reports that the banking and energy sectors appreciated during the session by 1.73 per cent and 1.42 per cent apiece, while the insurance, consumer goods and industrial goods counters depreciated by 0.93 per cent, 0.16 per cent and 0.05 per cent respectively.
As for the All-Share Index (ASI), it increased at the close of business by 89.52 points to 46,777.37 points from 46,687.85 points, while the market capitalisation expanded by N48 billion to N25.218 trillion from N25.170 trillion.
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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