Economy

Nigerian Stock Exchange Experiences Low Weekly Turnover

Published

4 years ago

22/02/2021

By Dipo Olowookere

A low turnover was recorded on the floor of the Nigerian Stock Exchange (NSE) last week and this may be attributed to the declining confidence investors have in equities at the moment.

Lately, the fixed income market has been witnessing rising yields and this has diverted interests to the space to the detriment of shares.

In the week, a total of 1.5 billion shares worth N18.2 billion exchanged hands in 22,752 deals in contrast to the 2.7 billion shares valued at N23.7 billion transacted a week earlier in 27,844 deals.

FBN Holdings, GTBank and Zenith Bank were accounted for 553.5 million shares worth N8.9 billion in 5,132 deals, contributing 35.92 per cent and 48.98 per cent to the total equity turnover volume and value respectively.

At the close of the five-day trading week, financial stocks accounted for 1.1 billion units worth N11.1 billion traded in 12,544 deals, representing 71.35 per cent and 60.92 per cent of the total trading volume and value respectively.

Consumer goods equities accounted for 133.2 million units valued at N2.3 billion in 3,941 deals, while conglomerates shares traded 121.1 million units for N263.2 million in 839 deals.

Business Post reports that a total of 39 equities appreciated in price during the week, higher than 16 16 equities in the previous week, while 33 equities depreciated in price, lower than 55 equities in the previous week, with 90 equities closing flat lower than 91 equities recorded in the previous week.

On top of the gainers’ chart was Portland Paints as a result of the 14.44 per cent price appreciation it recorded to close at N3.25 per share.

Julius Berger improved by 12.78 per cent to finish at N20.30 per unit, United Capital gained 12.39 per cent to sell for N6.35 per share, Livestock Feeds grew by 10.34 per cent to quote at N2.24 per unit, while Africa Prudential appreciated by 10.34 per cent to settle at N7.30 per share.

On the losers’ table, Consolidated Hallmark Insurance claimed the number one spot after it depreciated by 28.26 per cent to sell for 33 kobo per unit.

Royal Exchange dropped 16.67 per cent to 25 kobo per share, Viafoam declined by 16.13 per cent to settle at N7.80 per unit, Stanbic IBTC lost 14.00 per cent to end at N38.70 per share, while UPDC REIT fell by 10.83 per cent to N5.35 per share.

The index movement in the week showed that the All-Share Index and the market capitalisation depreciated by 0.63 per cent and 0.61 per cent to close at 40,186.70 points and N21.026 trillion respectively.

Similarly, all other indices finished lower with the exception of banking, NSE AFR Div Yield, NSE MERI Value, oil/gas and growth indices, which rose by 0.54 per cent, 1.20 per cent, 0.27 per cent, 4.60 per cent and 5.43 per cent while the ASeM and sovereign bond indices closed flat.

Economy

Okitipupa Plc, Two Others Lift Unlisted Securities Market by 0.65%

Published

1 hour ago

14/12/2024

Adedapo Adesanya

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.65 per cent gain on Friday, December 13, boosted by three equities admitted on the trading platform.

On the last trading session of the week, Okitipupa Plc appreciated by N2.70 to settle at N29.74 per share versus Thursday’s closing price of N27.04 per share, FrieslandCampina Wamco Nigeria Plc added N2.49 to end the session at N42.85 per unit compared with the previous day’s N40.36 per unit, and Afriland Properties Plc gained 50 Kobo to close at N16.30 per share, in contrast to the preceding session’s N15.80 per share.

Consequently, the market capitalisation added N6.89 billion to settle at N1.062 trillion compared with the preceding day’s N1.055 trillion and the NASD Unlisted Security Index (NSI) gained 19.66 points to wrap the session at 3,032.16 points compared with 3,012.50 points recorded in the previous session.

Yesterday, the volume of securities traded by investors increased by 171.6 per cent to 1.2 million units from the 447,905 units recorded a day earlier, but the value of shares traded by the market participants declined by 19.3 per cent to N2.4 million from the N3.02 million achieved a day earlier, and the number of deals went down by 14.3 per cent to 18 deals from 21 deals.

At the close of business, Geo-Fluids Plc was the most active stock by volume on a year-to-date basis with a turnover of 1.7 billion units worth N3.9 billion, followed by Okitipupa Plc with the sale of 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.3 million units sold for N5.3 million.

In the same vein, Aradel Holdings Plc remained the most active stock by value on a year-to-date basis with the sale of 108.7 million units for N89.2 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with a turnover of 297.3 million units worth N5.3 billion.

Economy

Naira Trades N1,533/$1 at Official Market, N1,650/$1 at Parallel Market

Published

2 hours ago

14/12/2024

Adedapo Adesanya

By Adedapo Adesanya

The Naira appreciated further against the United States Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) by N1.50 or 0.09 per cent to close at N1,533.00/$1 on Friday, December 13 versus the N1,534.50/$1 it was transacted on Thursday.

The local currency has continued to benefit from the Electronic Foreign Exchange Matching System (EFEMS) introduced by the Central Bank of Nigeria (CBN) this month.

The implementation of the forex system comes with diverse implications for all segments of the financial markets that deal with FX, including the rebound in the value of the Naira across markets.

The system instantly reflects data on all FX transactions conducted in the interbank market and approved by the CBN.

Market analysts say the publication of real-time prices and buy-sell orders data from this system has lent support to the Naira in the official market and tackled speculation.

In the official market yesterday, the domestic currency improved its value against the Pound Sterling by N12.58 to wrap the session at N1,942.19/£1 compared with the previous day’s N1,954.77/£1 and against the Euro, it gained N2.44 to close at N1,612.85/€1 versus Thursday’s closing price of N1,610.41/€1.

At the black market, the Nigerian Naira appreciated against the greenback on Friday by N30 to sell for N1,650/$1 compared with the preceding session’s value of N1,680/$1.

Meanwhile, the cryptocurrency market was largely positive as investors banked on recent signals, including fresh support from US President-elect, Mr Donald Trump, as well as interest rate cuts by the European Central Bank (ECB).

Ripple (XRP) added 7.3 per cent to sell at $2.49, Binance Coin (BNB) rose by 3.5 per cent to $728.28, Cardano (ADA) expanded by 2.4 per cent to trade at $1.11, Litecoin (LTC) increased by 2.3 per cent to $122.56, Bitcoin (BTC) gained 1.9 per cent to settle at $101,766.17, Dogecoin (DOGE) jumped by 1.2 per cent to $0.4064, Solana (SOL) soared by 0.7 per cent to $226.15 and Ethereum (ETH) advanced by 0.6 per cent to $3,925.35, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.

Economy

Index Gains 0.63% as Value of Nigerian Exchange Crosses N60trn

Published

2 hours ago

14/12/2024

Dipo Olowookere

By Dipo Olowookere

For the fourth consecutive trading session, the Nigerian Exchange (NGX) Limited closed higher on Friday by 0.63 per cent on sustained renewed buying pressure.

Apart from the energy and industrial goods sectors which closed flat, every other sector ended in the green territory, according to data obtained from the bourse.

Business Post reports that the insurance index appreciated by 1.52 per cent, the banking space improved by 0.63 per cent, and the consumer goods counter expanded by 0.46 per cent.

As a result, the All-Share Index (ASI) gained 617.47 points to settle at 99,378.06 points compared with the preceding day’s 98,760.59 points and the market capitalisation went up by 375 billion to close at N60.242 trillion, in contrast to Thursday’s closing value of N59.867 trillion.

The volume of transactions on Customs Street yesterday grew by 11.13 per cent to 544.2 million shares from the 489.7 million shares transacted a day earlier.

The value of transactions increased during the session by 49.30 per cent to N10.6 billion from N7.1 billion and the number of deals went up by 1.93 per cent to 8,464 deals from the 8,304 deals posted in the previous trading session.

The busiest equity for the trading day was Japaul with the sale of 71.7 million units valued at N158.0 million, eTranzact exchanged 70.7 million units worth N477.5 million, Tantalizers sold 57.3 million units for N101.2 million, FCMB traded 33.0 million units worth N297.3 million, and Universal Insurance transacted 27.1 million units valued at N9.6 million.

A total of 36 stocks ended on the gainers’ chart, while 15 stocks finished on the losers’ table, indicating a positive market breadth index and strong investor sentiment.

The trio of Aradel Holdings, Ikeja Hotel and Caverton gained 10.00 per cent each to trade at N550.00, N8.80, and N1.98, respectively, as Africa Prudential rose by 9.87 per cent to N17.25 and Golden Guinea Breweries soared by 9.64 per cent to N8.64.

On the flip side, Austin Laz lost 10.00 per cent to close at N1.62, ABC Transport crashed by 8.00 per cent to N1.15, Royal Exchange slumped by 7.69 per cent to 60 Kobo, Secure Electronic Technology plunged by 5.26 per cent to 54 Kobo, and The Initiates crumbled by 4.26 per cent to N2.25.