Economy
Nigerian Breweries Shares Record 25.12% Rise in One Week
By Dipo Olowookere
Shares of Nigerian Breweries Plc appreciated by 25.12 per cent or N10.55 last week on the floor of the Nigerian Stock Exchange (NSE) to settle at N52.55 per unit, leading the gainers’ chart.
The growth may have been influenced by the renewed interest in the company’s stocks as a result of the gradual reopening of restaurants, where products of the brewery giant are consumed.
Before the reopening of businesses, shares of the firm dropped to the N20 region at the stock exchange, but since the ease in the lockdown, the company’s equities have been witnessing growth again.
During the week, Cornerstone Insurance gained 16.39 per cent to close at 71 kobo per unit, Lafarge Africa appreciated by 15.77 per cent to finish at N15.05 per unit, Consolidated Hallmark Insurance grew by 9.68 per cent to stay at 34 kobo per share, while Trans-Nationwide Express rose by 9.33 per cent to trade at 82 kobo per share.
On the losers’ table, AIICO Insurance ended the five-day trading session with a price depreciation of 20.00 per cent to settle at 72 kobo per unit.
Red Star Express lost 16.90 per cent to trade at N3.00 per share, Oando depreciated by 11.74 per cent to sell at N2.03 per share, Northern Nigerian Flour Mills fells by 10.00 per cent to N4.05 per unit, while Champion Breweries declined by 10.00 per cent to quote at 81 kobo per unit.
Business Post reports that at the close of transactions for the week, 35 equities appreciated in price, higher than 32 equities in the previous week, while 28 equities depreciated in price, lower than 31 equities in the previous week, with 100 equities closing flat, same as in the previous week.
A look at the main performance indices showed that the All-Share Index (ASI) and market capitalisation appreciated by 2.92 per cent to close the week at 26,319.34 points and N13.755 trillion respectively, while all other indices finished higher with the exception of ASeM index, which closed flat.
On the activity chart, 1.6 billion shares worth N20.6 billion were traded in 18,396 deals during the week by investors as against the 1.1 billion shares worth N12.7 billion transacted in 17,109 deals a week earlier.
It was observed that stocks in the financial services sector topped the chart after exchanging 1.2 billion units valued at N9.2 billion in 9,900 deals, contributing 75.14 per cent and 44.65 per cent to the total equity turnover volume and value respectively.
Equities in the consumer goods industry followed with 90.0 million units worth N1.7 billion in 2,715 deals, while stocks in the ICT sector traded 84.7 million units valued at N5.8 billion in 771 deals.
Further analysis indicated that Sterling Bank, FBN Holdings and Zenith Bank accounted for 612.8 million shares worth N4.3 billion in 3,739 deals, contributing 39.10 per cent and 20.97 per cent to the total equity turnover volume and value respectively.
By Modupe Gbadeyanka
Customers of AXA Mansard in the Micro Small and Medium Scale Enterprise (MSME) sector of the economy will enjoy free exhibition stands at the Made by Nigerians Fair.
The fair is scheduled to take place on Saturday, December 7 and Sunday, December 8, 2024, at the Landmark Event Centre, Lagos.
To support small business owners, AXA Mansard is paying for stands for selected entrepreneurs to showcase their products at the fair, which attracts thousands of people.
According to the Head of Marketing at AXA Mansard Insurance Plc, Mr Olusesan Ogunyooye, this is another gesture by the company to show that MSMEs can benefit from having insurance.
He described MSMEs as the backbone of any economy, noting that they drive innovation, create jobs, and contribute significantly to national development.
“Our support for these businesses at the MBN Fair reflects the commitment to their growth and sustainability. We are passionate about helping them reach their full potential by connecting them with resources and opportunities that foster success.
“By the very nature of insurance, its benefits are in the future and they are uncertain. That has been a main source of discouragement, particularly to MSMEs. Businesses are geared to making money.
“So, when thinking about insurance, an average MSME would rather invest the money in the growth of his business first.
“The risks that businesses face are also real. There are various types of risks businesses have to contend with today; from burglary to fire, the health of employees, and so on.
“When these risks manifest, they can significantly impact a business negatively. We understand that to get MSMEs to protect themselves and the millions of jobs they create, we must help them strike a balance between growing their businesses and protecting them.
“So, we have come up with different Initiatives to help them grow their businesses. The opportunity to exhibit their products and services to thousands of visitors to the MBN Fair is another in the series of our initiatives.
“We are convinced that for insurance to grow, we need to help people and businesses see it as a strategic lever to grow their businesses, not a cost that takes away from them. If we get this right, it can’t have a massive impact on our economy because, when MSMEs thrive, the economy will prosper.
“We have experimented with this model, and we are particularly excited about the responses from our customers. It is a call for us to do more, and we are committed to Nigerian MSMEs,” Mr Ogunyooye stated.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.05 per cent gain on Friday, December 6 after the price of Afriland Properties Plc went up by 60 Kobo to settle for the day at N16.60 per share versus Thursday’s closing price of N16.00 per share.
Consequently, the market capitalisation of the bourse increased during the session by N520 billion to settle at N1.056 trillion, the same value it ended a day earlier, as the NASD Unlisted Security Index (NSI) went up by 1.5 points to wrap the session at 3,014.91 points compared with 3,013.41 points recorded in the previous session.
Business Post reports that yesterday, the price of Acorn Petroleum Plc depreciated at the close of business by 15 Kobo to trade at N1.54 per unit compared with the preceding day’s N1.69 per unit.
The volume of securities traded in the session by investors soared by 168.3 per cent on Friday to 199,577 units from 74,381 units, but the value of securities went down by 45.8 per cent to N1.4 million from the N2.7 million recorded a day earlier, and the number of deals grew by 20 per cent to six deals from the five deals executed in the preceding session.
Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.7 billion units sold for N3.9 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.3 million units worth N5.3 million.
Also, Aradel Holdings Plc remained the most active stock by value (year-to-date) with 108.7 million units worth N89.2 billion, followed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.3 million units sold for N5.3 billion.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited rebounded by 0.10 per cent on Friday as almost all the key sectors closed in green when trading activities ended for the week.
The banking index appreciated by 0.73 per cent, the insurance sector gained 0.55 per cent, the energy counter improved by 0.17 per cent, and the industrial goods space jumped by 0.04 per cent, while the consumer goods sector depreciated by 0.16 per cent.
At the close of business, the All-Share Index (ASI) moved up by 96.64 points to 98,210.75 points from 98,114.11 points and the market capitalisation gained N58 billion to quote at N59.534 trillion compared with Thursday’s closing value of N59.476 trillion.
The bourse finished with 27 price advancers and 21 price decliners, representing a positive market breadth index and bullish sentiment.
Golden Guinea Breweries jumped by 9.98 per cent to N5.40, Japaul improved by 9.30 per cent to N2.35, Sunu Assurances expanded by 9.07 per cent to N5.05, Sovereign Trust Insurance rose by 7.69 per cent to 84 Kobo, and Secure Electronic Technology grew by 7.69 per cent to 70 Kobo.
On the flip side, Eterna lost 4.62 per cent to N22.70, Sterling Holdings depreciated by 4.12 per cent to N4.65, Prestige Assurance fell by 3.85 per cent to 75 Kobo, Consolidated Hallmark shrank by 3.85 per cent to N2.50, and Champion Breweries slumped by 3.50 per cent to N3.86.
Yesterday, investors bought and sold 1.0 billion equities worth N17.5 billion in 7,220 deals, in contrast to the 723.0 million equities valued at N12.8 billion transacted in 8,495 deals a day earlier, indicating a decline in the number of deals by 15.01 per cent and a surge in the trading volume and value by 43.98 per cent and 36.72 per cent, respectively.
On top of the activity chart on Friday was Wema Bank with the sale of 472.5 million stocks valued at N4.1 billion, Fidelity Bank traded 251.5 million shares worth N4.0 billion, FCMB transacted 45.0 million equities for N404.9 million, UBA sold 42.3 million shares valued at N1.4 billion, and Japaul traded 20.7 million stocks worth N46.3 million.
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