Economy
Neimeth, Transcorp, UBA Trade 1.248 billion Shares in Five Days
By Dipo Olowookere
Last week, on the floor of the Nigerian Exchange (NGX) Limited, Neimeth International Pharmaceuticals, Transcorp, and UBA were the most active stocks as they traded 1.248 billion units worth N2.347 billion in 1,102 deals, contributing 73.89 per cent and 21.21 per cent to the total trading volume and value, respectively.
Data showed that the exchange recorded a turnover of 1.689 billion shares worth N11.066 billion in 14,019 deals compared with the 853.745 million shares valued at N11.841 billion in 18,543 deals traded a week earlier.
Healthcare equities led the activity chart with 1.086 billion units worth N1.627 billion traded in 267 deals, contributing 64.32 per cent and 14.70 per cent to the total trading volume and value apiece, driven by Neimeth.
Financial stocks trailed with 379.556 million units worth N4.547 billion in 6,711 deals, while conglomerates shares occupied third place with 89.526 million units worth N131.231 million in 534 deals.
NCR Nigeria finished the week as the biggest price decliner as it dropped 18.69 per cent to trade at N2.35, Ikeja Hotel fell by 18.25 per cent to N1.03, International Breweries lost 6.45 per cent to quote at N4.35, Cadbury Nigeria depreciated by 5.83 per cent to N11.30, and Multiverse depleted by 5.80 per cent to N3.25.
On the flip side, Sunu Assurances led the gainers’ table after it appreciated by 9.09 per cent to 48 Kobo, Lasaco Assurance rose by 7.14 per cent to N1.05, NPF Microfinance Bank gained 6.94 per cent to settle at N1.85, Geregu Power increased by 6.25 per cent to N323.00, and Transcorp Hotels jumped by 6.15 per cent to N6.90.
Business Post reports that 28 shares ended on the advancers’ chart, higher than 19 shares in the previous week, 27 equities finished on the decliners’ table, lower than 47 equities in the previous week, while 102 stocks closed flat, higher than 90 stocks in the previous week.
In the five-day trading week, the All-Share Index and the market capitalisation depreciated by 0.04% to 54,892.53 points and N29.903 trillion, respectively.
It was observed that all other indices finished higher with the exception of NGX Main Board, NGX 30, insurance, MERI Growth, consumer goods and industrial goods sectors, which fell by 0.30 per cent, 0.16 per cent, 0.53 per cent, 0.58 per cent, 0.74 per cent, and 0.49 per cent apiece, while the ASeM, energy, Growth and Sovereign Bond indices closed flat.
Economy
Crude Oil Down on Steady US Energy Demand Forecast
By Adedapo Adesanya
Crude oil went down on Tuesday after a projection showed steady demand in the world’s largest oil producer, the United States, for 2025, Brent futures declining by $1.09 or 1.35 per cent to settle at $79.92 a barrel and the US West Texas Intermediate (WTI) crude losing $1.32 or 1.67 per cent to finish at $77.50 a barrel.
On Tuesday, the US Energy Information Administration said the country’s oil demand would remain steady at 20.5 million barrels per day in 2025 and 2026, with domestic oil output rising to 13.55 million barrels per day, an increase from the agency’s previous forecast of 13.52 million barrels per day for this year.
Also, the oil market shrank a few days after prices gained following new US sanctions on Russian oil exports to India and China.
On Monday, prices jumped 2 per cent after the US Treasury Department on Friday imposed sanctions on Gazprom Neft and Surgutneftegas as well as 183 vessels that transport oil as part of Russia’s so-called shadow fleet of tankers.
Analysts say this move could have a significant price impact on Russian oil supplies from the fresh sanctions, however, their effect on the physical market could be less pronounced than what the affected volumes might suggest.
ING analysts estimated the new sanctions had the potential to erase the entire 700,000 barrels per day surplus they had forecast for this year, but said the real impact could be lower.
Uncertainty about demand from China, the world’s largest oil importer, could impact tighter supply this year.
China’s crude oil imports fell in 2024 for the first time in two decades outside of the COVID-19 pandemic, official data showed on Monday.
Meanwhile, the American Petroleum Institute (API) estimated that crude oil inventories in the US fell by 2.6 million barrels for the week ending January 10.
For the week prior, the API reported a draw of 4.022 million barrels in US crude oil inventories amid build season, while product inventories saw a hefty build.
In 2024, crude oil inventories dropped by more than 12 million barrels, according to the API’s inventory data. In the first few weeks of 2025, crude inventories have shed more than 6.6 million barrels.
Official data from the US EIA will be due later on Wednesday, confirming the actual level of stockpiles.
Economy
Stock Exchange Suffers Heavy Loss as Investors Pull Out N1.1trn
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited came under heavy selling pressure on Tuesday, going down by 1.66 per cent as investors embarked on profit-taking after most stocks on the trading platform gained in the past few trading sessions.
It was observed that the industrial goods sector was the most affected yesterday as it went down by 4.99 per cent due to the decline suffered by Dangote Cement and others.
The insurance continued its downward trend during the day as it lost 2.80 per cent, the consumer goods counter fell by 0.27 per cent, and the banking index shed 0.10 per cent, while the energy sector appreciated by 0.29 per cent.
At the close of business, the All-Share Index (ASI) deflated by 1,745.16 points to settle at 103,622.09 points compared with the previous trading day’s 105,367.25 points and the market capitalisation moderated by N1.1 trillion to finish at N63.188 trillion versus Monday’s N64.252 trillion.
Business Post reports that investor sentiment remained weak on Tuesday after the bourse ended with 41 depreciating equities and 23 appreciating equities, representing a negative market breadth index.
Honeywell Flour lost 10.00 per cent to trade at N9.54, Dangote Cement declined by 9.98 per cent to N431.00, Julius Berger crashed by 9.98 per cent to N139.80, Sovereign Trust Insurance decreased by 9.68 per cent to N1.12, and Prestige Assurance tumbled by 9.30 per cent to N1.17.
On the flip side, Northern Nigerian Flour Mills appreciated by 10.00 per cent to N45.10, Livestock Feeds grew by 9.91 per cent to N6.10, Academy Press expanded by 9.90 per cent to N3.22, University Press increased by 9.82 per cent to N4.81, and Neimeth gained 9.76 per cent to quote at N3.15.
During the session, market participants bought and sold 503.3 million shares valued at N12.6 billion in 12,900 deals compared with the 505.8 million shares worth N8.1 billion traded in 14,259 deals a day earlier, indicating a rise in the trading value by 55.56 per cent and a drop in the trading volume and number of deals by 0.49 per cent and 9.53 per cent, respectively.
The most active stock for the session was GTCO with 54.4 million units worth N3.2 billion, Nigerian Breweries transacted 32.2 million units for N1.0 billion, Universal Insurance traded 30.8 million units valued at N22.6 million, AIICO Insurance exchanged 26.6 million units worth N47.2 million, and Chams transacted 20.0 million units valued at N40.9 million.
Economy
FG Offers 18% Interest on Savings Bonds
By Adedapo Adesanya
The federal government is offering two new savings bonds with interest rates between 17 and 18 per cent through the Debt Management Office (DMO).
In a statement by the agency, the country said retail investors can purchase the two-year bond maturing in January 2027 at 17.23 per cent interest, while the three-year paper maturing in January 2028 at a coupon rate of 18.23 per cent.
Bonds are very safe financial instrument that serve as investments because they are backed by the federal government, which promises to pay back the money.
According to the DMO, people can buy these bonds starting January 13, 2025, until January 17, 2025, with allotment expected on January 22, 2025, and the interest to be paid to investors every three months – in April, July, October, and January.
These bonds have some special features. They are tax-free under both company and personal tax laws.
Big investors like pension funds and trustees are allowed to buy them and each bond costs N1,000 each.
However, interested investor can only buy at least N5,000 worth, and can’t buy more than N50 million.
This comes after the Ms Patience Oniha-led debt office said the Nigerian government was offering three bonds worth N150 billion in September 2024.
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