Economy
NSE All-Share Index Gains 3.71% to Hit 16-month High
By Dipo Olowookere
The stock market in Nigeria continued its recent bull run on Friday, appreciating by 3.71 per cent after more positive Q3 earnings inspired investors to expand their portfolios.
The bargain-hunting pushed the All-Share Index (ASI) to a level last seen in June 2019 as it crossed 30,000 points at the close of transactions. The index increased yesterday by 1,093.09 points to settle at 30,530.69 points versus 29,437.60 points it ended on Wednesday.
Business Post recalled that the last time the ASI was near 30,530.69 was on Thursday, June 6, 2019, when the market lost 1.30 per cent and the index closed at 30,527.07 points.
Yesterday, the market capitalisation inched closer to the N16 trillion region as it increased by N571 billion to finish at N15.958 trillion in contrast to N15.387 trillion it ended the previous session.
It was observed that all the five key sub-sectors of the market closed positive with the consumer goods space rising by 5.58 per cent and was followed by the industrial goods sector, which gained 5.53 per cent.
The banking counter appreciated by 3.48 per cent, the oil/gas index rose by 3.07 per cent, while the insurance sector moved up by 2.32 per cent.
There were 43 price gainers at the close of business on Friday, higher than the 11 price losers and the 10 stocks, which had their prices unchanged.
The biggest price riser was Nestle Nigeria, which appreciated by N129.20 to close at N1421.70 per share and was trailed by Mobil Nigeria, which gained 17.80 to finish at N196.10 per unit.
Total Nigeria rose by N11 to end at N129.90 per share, Dangote Cement appreciated by N4.70 to trade at N160 per unit, while BUA Cement chalked up N4.10 to sell at N45.50 per share.
Guinness Nigeria was the heaviest price loser on Friday after depreciating by 55 kobo to quote at N17 per unit and was followed by NAHCO, which lost 12 kobo to settle at N2.10 per share.
PZ Cussons shed 10 kobo to trade at N4.45 per unit, Prestige Assurance declined by 6 kobo to sell at 54 kobo per share, while Ecobank depleted by 5 kobo to N5.65 per unit.
On the activity chart, the trading volume, value and number of deals increased by 115.27 per cent, 126.60 per cent and 36.42 per cent respectively.
This was because a total of 807.8 million shares worth N10.5 billion were traded in 8,113 deals yesterday compared with the 375.2 million stocks worth N4.6 billion transacted in 5,947 deals on Wednesday.
There was no trading activity on the floor of the Nigerian Stock Exchange (NSE) on Thursday as a result of the public holiday declared by the federal government to celebrate Eid-el-Maulud, which is the birthday of Prophet Mohammed.
UBA was the most traded stock on Friday as a result of the 108.6 million units of its shares worth N816.7 million traded by market participants.
Access Bank transacted 94.7 million equities valued at N746.9 million, FBN Holdings exchanged 89.6 million stocks for N581.5 million, Zenith Bank traded 75.2 million shares valued at N1.7 billion, while GTBank transacted 56.2 million stocks worth N1.8 billion.
By Dipo Olowookere
The Nigerian equity market showed no signs of slowing down, as it further appreciated by 1.30 per cent on Friday on the back of sustained buying pressure.
Unlike the preceding sessions, investor sentiment was bullish yesterday after the Nigerian Exchange (NGX) Limited ended with 43 price gainers and 26 price losers, implying a positive market breadth index, the first this week.
UPDC gained 10.00 per cent to close at N4.40, Academy Press also appreciated by 10.00 per cent to quote at N7.70, Haldane McCall improved by 9.97 per cent to N3.97, Zichis soared by 9.94 per cent to N15.60, and Wema Bank added 9.84 per cent to settle at N31.25.
Conversely, Meyer lost 9.92 per cent to sell for N16.80, Trans-Nationwide Express also crashed by 9.92 per cent to end at N7.90, C&I Leasing slipped by 8.53 per cent to N5.90, Omatek dipped by 7.34 per cent to N2.02, and eTranzact decreased by 5.28 per cent to N17.05.
When the bourse closed its doors to business, the All-Share Index (ASI) rose by 2,884.81 points to 225,722.49 points from 222,837.68 points, and the market capitalisation grew by N1.858 trillion to N145.335 trillion from N143.477 trillion.
A look at the activity chart showed that market participants transacted 627.6 million shares worth N44.5 billion in 55,232 deals during the trading day compared with the 667.9 million shares valued at N38.1 billion traded in 53,062 deals a day earlier.
This indicated that the volume of transactions went down by 6.03 per cent, the value of trades went up by 16.80 per cent, and the number of deals jumped by 4.09 per cent.
Access Holdings closed the session as investors’ toast, with a turnover of 75.6 million units worth N2.4 billion. UBA transacted 43.1 million units valued at N2.3 billion, Wema Bank exchanged 41.5 million units for N1.3 billion, Zenith Bank traded 38.4 million units valued at N5.2 billion, and Universal Insurance sold 29.5 million units for N35.9 million.
By Aduragbemi Omiyale
Mr Taiwo Oyedele has set some goals he intends to achieve as Nigeria’s Minister of Finance and Coordinating Minister of the Economy.
While taking over from his predecessor, Mr Wale Edun, on Thursday, the tax expert assured that he has no plans to overturn some of the reforms already put in place by the former occupier of the seat.
In a message on Friday, he emphasised that, “Our immediate task is to consolidate these gains, deepen ongoing reforms, and ensure they translate into tangible benefits for all Nigerians.”
He promised to ensure fiscal discipline by embracing transparent and prudent management of public resources, while also harmonising revenue administration, broadening the tax base, reducing the burden on the vulnerable population, and supporting economic growth.
Mr Oyedele further said his other strategic priorities include creating a predictable and investor-friendly environment anchored on policy coherence, consistency, and clarity; and aligning efforts across all tiers and institutions to maximise policy impact.
He also said efforts would be made to deepen collaboration with the private sector and other key stakeholders for data-driven policy design, co-implementation, and feedback for continuous improvement.
According to him, “Good policy design alone is not enough; success will be defined by execution. We are committed to disciplined implementation, accountability, and measurable results.”
“I look forward to working with colleagues across government, the private sector, and all Nigerians as we move from reform to result, accelerate growth and build a more stable, inclusive, and prosperous economy,” he stated.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange further appreciated by 0.23 per cent on Thursday, April 23, with the Unlisted Security Index (NSI) adding 8.99 points to close at 3,969.96 points against the previous day’s 3,968 points.
The rise in the share price of Central Securities Clearing System (CSCS) Plc by N2.86 to N69.34 per unit from N66.48 per unit raised the market capitalisation of the NASD bourse by N5.38 billion to N2.380 trillion from N2.375 trillion.
Yesterday, there were two price losers, led by Food Concepts Plc, which lost 29 Kobo to sell at N2.65 per share versus N2.94 per share, while UBN Property Plc dipped by 22 Kobo to N2.03 per unit from N2.25 per unit.
During the session, the volume of securities traded declined by 97.9 per cent to 451,522 units from 21.5 million units on Wednesday, the value of securities depreciated by 52.32 per cent to N23.6 million from N49.5 million, and the number of deals depreciated by 3.6 per cent to 27 deals from 28 deals.
At the close of business, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis with 3.4 billion units valued at N8.4 billion, followed by CSCS Plc with 59.5 million units exchanged for N4.0 billion, and Okitipupa Plc with 27.8 million units traded for N1.9 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units transacted for N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion.
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