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.
Investors Gain N1.09bn as NASD Share Price Rises 9.1%
By Adedapo Adesanya
The unlisted securities market closed the last trading session of the week on a positive note after it appreciated by 0.18 per cent on the back of growth in the share price of NASD Plc.
Business Post reports that the NASD Over-the-Counter (OTC) Securities Exchange returned to the bulls’ territory on Friday after it closed flat on Thursday.
NASD Plc was the major driver of the return of the bourse to the green region as its value went up during the session by N2.45 or 9.1 per cent to close at N26.99 per unit in contrast to N24.54 per unit it closed at the previous session.
As a result of this, the NASD unlisted security index (NSI) moved up by 1.32 points to 745.44 points from 744.12 points, while the market capitalisation gained N1.09 billion to wrap the day at N615.86 billion in contrast to the previous day’s N614.77 billion.
On the activity chart, there was an improvement as the trading volume surged by 34,985.6 per cent because of the 2.3 million units of shares exchanged by market participants compared with the 6,688 units transacted at the previous session.
In the same vein, the trading value rose by 17,680.6 per cent to N63.4 million from the previous day’s N356,563.60, while the number of deals witnessed a 100 per cent rise as investors carried out 12 deals compared to the six deals executed at the previous session.
At the close of trades, Food Concepts Plc was the most traded stock by volume (year-to-date) with 11.4 billion units of its shares worth N14.4 billion, Lighthouse Financial Service Plc followed with 1.1 billion units valued at N546.2 million, while Geo Fluids Plc was in third place with 1.0 billion units worth N700.1 million.
Food Concepts Plc was also the most traded stock by value on a year-to-date basis with 11.4 billion units worth N14.4 billion, trailed by Nigerian Exchange (NGX) Group Plc with 456.4 million units valued at N9.2 billion, VFD Group Plc with 10.4 million units valued at N3.5 billion.
Naira Trades N414.73/$1 as Cryptos Bleed Heavily
By Adedapo Adesanya
The Naira appreciated against the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange (forex) market by 0.02 per cent or 7 kobo on Friday, December 4.
Data showed that the local currency was sold for N414.73/$1 at the investors’ window yesterday compared with the N414.80/$1 it traded on Thursday.
At the final trading session of the week, the turnover was $103.01 million as against $139.67 million achieved at the preceding session, indicating a $36.66 million or 26.62 per cent decline.
Also, the exchange rate of the Naira to the United States currency recorded a movement on Friday, though downward as the Nigerian currency depreciated by 4 kobo as it closed at N411.74/$1 versus the preceding day’s N411.70/$1.
The local currency, however, appreciated by N2.17 against the British Pound Sterling to settle at N546.26/£1 compared to N548.43/£1 it traded at the previous trading session and 57 kobo against the Euro to trade at N465.68/€1 compared to the preceding day’s N466.25/€1.
At the cryptocurrency market, investors counted a heavy loss as the new variant of the coronavirus called Omicron and hawkish comments by the US Federal Reserve that it could raise interest rates have raised serious concerns, causing cryptos to bleed heavily.
The heaviest loss was suffered by Dash (DASH), which plunged by 35.3 per cent to sell for N66,595.85. Ripple (XRP) depreciated 30.6 per cent to trade at N381.85, while Litecoin (LTC) sold for N66,595.85 after declining by 24.1 per cent.
Dogecoin (DOGE) went down by 22.7 per cent to sell at N90.29, Cardano (ADA) depreciated by 20.8 per cent to N652.82, Bitcoin (BTC) depleted by 16.9 per cent to quote at N26,800,504.20, Ethereum (ETH) equally saw a 16.9 per cent depreciation to trade at N2,100,100.39, Binance Coin (BNB) recorded a 12.9 per cent depreciation to trade at N218,577.24, Tron (TRX) went down by 12.7 per cent to trade at N48.00, while the US Dollar Tether (USDT) recorded a 0.1 per cent marginal loss to sell for N554.76.
Crude Mixed as Market Remains Unsettled by Omicron Jitters
By Adedapo Adesanya
Crude prices closed mixed on Friday, December 3 after erasing earlier big gains on growing worries that rising coronavirus cases and a new variant could reduce global oil demand.
Brent crude gained 21 cents or 0.3 per cent to trade at $69.88 per barrel while on the other hand, the United States West Texas Intermediate (WTI) crude lost 24 cents or 0.36 per cent to sell at $66.26 per barrel.
Both benchmarks declined for a sixth week in a row for the first time since November 2018.
Oil prices had witnessed one of the most troubled weeks as the market reeled from the fear brought about by the Omicron variant of the coronavirus with speculations that it could spark new lockdowns and dent fuel demand.
The World Health Organization (WHO) urged countries to vaccinate their people to fight the virus, saying travel curbs were not the answer.
Even with this, the Organisation of the Petroleum Exporting Countries and allies (OPEC+) surprised the market on Thursday when it stuck to its plans to add 400,000 barrels per day supply in January.
However, it said it will continue to monitor the market and this could make it change course if demand suffered from measures to contain the spread of the Omicron coronavirus variant.
The alliance said they could meet again before their next scheduled meeting on January 4.
Analysts noted that with the coronavirus cases rising, the US jobs report for November also didn’t help demand outlook even as the unemployment rate plunged to a 21-month low of 4.2 per cent, suggesting the country’s labour market was rapidly tightening.
US employment growth slowed considerably in November amid job losses at retailers and in local government education.
Meanwhile, in Vienna, diplomats attempting to restore the nuclear deal between Iran and world powers face substantial challenges that need urgent solutions, the top European envoy said Friday. Talks are set to resume next week.
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